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The one exception some people have to dollar-cost averaging (investing a fixed amount regularly) is "I have a giant pile of savings and I want to buy into the market". Some people advocate still putting it all in right away and investing for the long term; others advocate gradually moving into investments, such as investing 20% a year for five years.

Either way, though, you should start investing that 10% of your income; the only question is what to do with what you've already saved. You could, for instance, match that 10% every month from your existing savings. That way, you're not dumping a pile of money into stocks all at once.

(Also, in case you don't already have a specific plan for investing: index funds with very low overhead, such as Vanguard's VTSAX.)




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