Secure your future with SIP investments
SIP Investments | Image Resource: siasat.com
Making regular Investment is considered as a healthy financial habit but the most rewarding way to build your wealth is to invest with SIP’s i.e. systematic investment plan because this delivers superior returns, with fewer shocks over the long term.
Why invest in SIP?
Firstly, it will change your attitude about financial planning and once you start investing with SIP you will realise that making the SIP investment will soon become your habit. Secondly, you can invest in SIP without the fear of market up’s and down. Money is automatically invested in this scheme without any effort. The best part is you can start investing with as low as 500 rupees. The mode of investment is user friendly. Many funds under sip plans allow you to make monthly, bimonthly, fortnightly investments. You can also customize your funds. Set up SIP’s sends an alert to the investor when the market is down to buy more. It also allows the investor to increase the amount periodically. Under Perpetual Sip schemes investor is not required to choose the closing date. Once the goal is achieve you can stop the investment.
Steps to start SIP:
It is a very simple process and a matter of just a few clicks. Given below is a process to start your SIP investments.
Become a KYC compliant. How to do that? Simple fill the KYC form, submit your address and identity proof, and a passport size picture and you are done.
• Decide your financial goal, finalize the amount you want to invest and decide the period for which you
want to make an investment.
• Once you have decided the amount you want to invest in the fund you have already overcome the biggest challenge you will face because this step will secure your investment. Thus it is very important for you to make a right decision at right time. If you are not sure you can take advice from investment companies and financial planners. They study the market trends, past performance of the funds and then recommend you.
• Now decide the date on which your money will be deducted. You can make monthly check payments or get your amount deducted directly from your bank account.
• The last step is to submit your form and the journey of your SIP begins.
These simple steps will help you build a comfortable and financially sound future for yourself and your family.