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Mutual Funds: 7 smart SIP strategies to stay committed to your goals

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1. Choose right fund

Picking the right mutual funds that fit into the risk tolerance and financial goals is equally important. Different funds have different levels of risk.

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2. Opt for auto-debit option

To achieve disciplined and organised investing, use the auto-debit mode in which the SIP amount is deducted from bank account on the designated date.

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3. Keep an eye on market

 Keep an eye on market trends, economic indicators, and funds' performance to avoid making wrong decisions. Attend seminars, webinars, or sessions run by financial experts.

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4. Define your goal

Prior to beginning with SIP, it is crucial to lay out the goals based on the attainable finances. 

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5. Don't invest emotionally

Market volatility and fluctuations that are inherent to this market can really make investors give in to emotional impulses. It can lead to the failure of the investment strategy.

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6. Review and distribute

SIP serves as a tool to create a buy-and-hold approach, hence the need to revisit the portfolio at regular intervals to match with the financial goals and risk appetite.

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7. Increase amount with growth

When the income gradually increases, raise the SIP proportionately to get more wealth soon.

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