One may invest a lump sum amount as and when the money is available or becomes more a more disciplined investor by using the systematic investment plan (SIP) mode of investing. SIPs help you profit from volatility by automatically buying you more units when prices are falling and fewer units when prices are rising, thus lowering your average purchase price, while inculcating some much-needed discipline into your investing habits.
Here are five key tips that may help you in your journey of creating wealth through SIPs:
1. What should be the SIP amount
Before you begin saving through SIPs, make sure you have properly estimated the amount that you wish to save. Based on the current cost of the goals, a number of years to goal to arrive at the inflated amount. Now, you need to find out how much you need to save each month towards the inflated amount of the goal. This exercise will help you to save the right amount towards your long-term goals.
2. How many funds are enough
Bu hikaye Investors India dergisinin June 2021 sayısından alınmıştır.
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Bu hikaye Investors India dergisinin June 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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