–A Systematic Investment Plan or SIP is a smart and hassle free mode for investing money in mutual funds.
Rule No: 1 Understand how SIP’s Work
SIP’s do not provide a constant return and fixed interest. Start off by understanding and accepting the fact.
Rule No: 2 Play the Long Game
Starting off your SIP’s for a short period of time is futile and this may lead to a potential loss. Invest in you SIP for a longer time horizon and Play the Long Game.
Rule No: 3 Be Dispassionate
You just need to ‘Shut out the market noises’ and ignore all the pundits around you, who just keep telling you to check your SIP frequently and make tweaks to your portfolio.
Rule No: 4 Link them to Goals
Linking your SIP’s to your goals is a great idea!
Before you invest in SIP, ask yourself the reason for your investment, create a Goal and Link your investment to the goal. Keep your SIP’s running for a long time to achieve your goal.
Your Goals are the major driving force for your investment. Investing in SIP has the above 4 rules. Follow these rules to get a better and a greater return. Do Not Forget to Link Your Goal to Your SIP.
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