If Patience Is Your Greatest Ally, Then SIP Is The Way To Building Wealth

The saying, “A journey of a thousand miles starts with a single step,” aptly describes the essence of a Systematic Investment Plan (SIP). A SIP is a simple, convenient and disciplined way to meet your financial goals. It is designed to help investors to save regularly and accumulate wealth in a disciplined manner over a long period. To make a SIP effective, an investor has to be mindful of the following three principles. Start Early: If you start investing earlier, you may generate relatively higher returns and can benefit from the power of compounding Invest Regularly: This can help you manage market volatility, as it lets you average out the cost of your investments over time. Invest the Right Amount: Often, people start with SIP but are not sure if the amount they are saving each month is enough to reach their goal or not. Sometimes, even after years of SIPing, there...