Sarah is a young computer professional, who wants to gain financial independence. She has big dreams - travel the world, own a cosy home, and save good money for her future. But with a fixed salary, saving a huge amount for these goals is impossible.
SIP is the tool to make Sarah’s impossible goals possible. With SIPs, Sarah can invest a fixed amount at regular intervals into her chosen mutual fund schemes.
In this article, we will explore whether investing in mutual funds through SIP is an effective strategy for wealth creation.
SIP AND WEALTH CREATION HERE'S HOW SIPS CAN HELP WITH WEALTH CREATION:
Compounding Interest
This story is from the August 2024 edition of Outlook Money.
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This story is from the August 2024 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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Tuition Fee Varies Among Countries
I am 22 years old and have recently started working in a software company.
