Dollar-cost averaging has three key benefits:1. It helps to avoid the impact of timing an investment.2. It takes away the emotion from investing.3. It enhances longer-term gains.Simply put, dollar-cost averaging can save investors from common psychological biases that are driven by fear and greed. As markets tend to go up in the long run, dollar-cost averaging can help investors in recognizing that short-term volatility should not drive the course of action when it comes to investments.