Systematic Investment Plan SIP
More often than not, we tend to believe that building wealth is stocking up cash inside a locker or trying to maintain a positive balance in a savings account. While undoubtedly prudent saving is the first step to building wealth, it remains just that – the first step. Building wealth, however, is more about the smarter process of multiplying your savings by investing in the right avenues for a secure future with realistic goals. So is there a way to make investing a habit? Could you do it on autopilot without having to remember it every time? Is it necessary to have a huge amount to invest?
What if we told you that an amount as little as Rs 1,000 a month can go a long way in building wealth? What if we told you there was an investment option that can get you high returns despite market uncertainties?
Well, you only have one answer to all these questions – Meet the SIP!
Systematic Investment Plan (SIP)
A SIP is that friend who will help you inculcate the habit of investing regularly and wisely. SIP stands for Systematic Investment Plan. It is the strategy of investing a fixed amount periodically (typically every month) in mutual funds that are apt for you and will help you achieve your goals.
Here are some of the advantages of SIPs:
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