Systematic Investment Plan, commonly abbreviated as SIP is a strategy where one can invest a certain amount of money at regular intervals of time and benefit the cost rupees averaging without getting affected by the market levels.
Courtesy of various myths floating in the market; people have been apprehensive about using it. This guide will bust the most common misconceptions and glorify the advantages of making use of this investment method.
- SIP is a method of investing, not an investment
People often tend to confuse SIP with mutual funds. While the mutual fund is an investment, SIP is the means to invest in them. SIP allows you to buy units on a set date every month, enabling you to implement a saving or investment plan for yourself. After you have decided on the mutual fund scheme you want and the amount to invest in every month, you can either furnish …