Benefits Of SIP 2024 | Everyone has some dreams. Building your own house,Children’s education,Marriage,Buying a car, Saving some money to live comfortably after retirement are many.

Know About Benefits Of SIP 2024:

For this, many people save some money in the bank every month. If you do this, you will get only 728 percent interest per annum. But there is an easier way to make more money faster in the stock market. SIP stands for Systematic Investment Plan.

To be more clear, instead of investing in mutual funds at once, it is called a SIP to invest a fixed amount every month during their PDP time. To whom they can save according to their respective incomes. You can decide and regularly invest the amount in mutual funds through SIP. By investing in a SIP like this, you can get several times more profit than the income from a fixed deposit in a bank.

Know Through An Example:Benefits Of SIP 2024

Benefits Of SIP 2024 – For example, a person named Kumar wants to save money for his retirement for 25 years now and started investing in SIP at the rate of ₹1000 every month from the age of 25. Assuming his retirement is 60 years then 25 years to 60 years i.e. total 35 years 12 months in a year so thirty five×12+2 = 420.

420 invested at ₹1000 per month so 420 thousand acres ₹4,60,000 i.e. Kumar invested from 25 years to 60 years .Through this he can get upto 24,20,000. But he can get up to 40,00,000 through SIP when he retires. This is all because of CPO power. Compound Effect When we are children we study about compound interest in calculations. Based on that, this systematic investment plan will work. Well if you also want to invest in this SIP then you have to do it first.

Decide Your Goal & Make a Plan | Benefits Of SIP 2024

First decide what your goal is. It can be anything like building a house, buying a car, going abroad. Then calculate how much money is needed to reach that goal. Also in how much time you want to reach the goal. Set it.

Now see how much amount you need to save every month to earn that amount in that time. Also depending on your income how much you can invest. Observe and prepare a plan based on these. Now invest in any C fund that suits your plan. Invest regularly. Get big returns in long term.You can also share your knowledge with others.

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