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2 mins Read | 5 Years Ago

How can Systematic Investment Planning help meet your financial goals

How can Systematic Investment Planning help meet your financial goals?

Irrespective of who you are or what you do, you'd surely have a few financial goals in life. However, earning and saving isn’t the only way to attain your goals. While they are no doubt the crucial pillars of a successful life, it is also essential to invest your money to meet the goals at the right time effectively.

And choosing the right investment option is an important part of the whole process to make sure that it truly suits your purpose and personal investment profile. SIP investment plan is currently one of the most popular options for every type of financial goals. Let us have a look at how SIPs can help you meet your financial objectives-

1. Start investing early in life

When you start working, it generally takes at least a few years to be able to accumulate a lump sum amount that you can invest. For instance, if you start working when you are 22, you might start thinking about investments in your late 20s or early 30s.

But ask any financial expert and they'd recommend that one should start investing as early in life as possible. With the best SIP plans, you can start investing with just Rs. 500 per month. It allows you to start investing early in life, enabling you to work towards your goals from an early age.

2. SIP amount flexibility

While the minimum amount for most SIP plans is Rs. 500, you can easily increase the amount as and when needed. So, you might start investing Rs. 500 a month in a scheme of your choice now and you can then increase the SIP amount as your earnings rise.

This ensures that your investment grows along with you. It is generally recommended that you should try to increase the SIP amount by at least 5%-10% every year.

3. Ideal for every financial goal

There are now many different types of mutual funds for all the different kinds of financial objectives. For instance, there are equity funds for long-term goals and debt funds for shorter durations. The availability of options allows you to select the best SIP plans in India which are in line with your objectives.

While it is recommended that you should build a diversified SIP portfolio, your financial goals will play a crucial role in helping you select the right mix of mutual fund schemes.

4. Higher returns

As compared to most popular investment options in India, the top mutual fund schemes have been able to deliver higher or at least comparative returns.

Moreover, with SIPs, the rupee cost averaging, and the power of compounding comes into effect and enables you to generate excellent returns in the long run. Even if you have a shorter investment horizon, several schemes can offer returns higher than traditionally popular options.

5. Complete convenience

With the best SIP plan to invest, you get a professional team of fund manager and analysts who manage your money on your behalf. This eliminates the need for you to worry about your investments.

Moreover, you also get the option to pause the SIP any time you like without paying any penalty. Similarly, you can also resume the SIP anytime you want. More importantly, all of this can be easily managed online from the comforts of your home or even on the go from your mobile phone.

Achieving financial goals with SIP plans

The convenience and flexibility offered by SIP make you a confident and disciplined investor, allowing you to get closer to your objectives. If you are done setting financial goals, try to know more about mutual funds and working of SIPs to ensure that all your hard work and efforts can deliver the expected results.



The contents of this document are meant merely for information purposes. The information contained herein is subject to update, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient’s own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. ‘lClCl’ and the ‘I-man’ logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.

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