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Delaying SIP investments can impact long-term gains. When you start earlier, your money has more time to compound, leading to greater wealth accumulation.
SIPs work best when you invest consistently, regardless of market conditions.
Setting goals like retirement, buying a house, and children's education will give direction to your investments.
Not monitoring your mutual fund can be risky. Regularly check the fund's performance and switch if it consistently underperforms.
Setting the SIP amount too high or too low can affect your financial planning.
Diversify across different funds and asset classes to enhance returns instead of investing all your SIPs in a single fund or sector.
Not accounting for inflation can lead to a shortfall when you reach your investment goals. Adjust your SIPs periodically for inflation to grow your assets in real terms.