All of us love sipping hot coffee early in the morning with our favorite news paper..Isn’t it?
Blow simple tips could give you to SIP your investments for financial health.
SIP helps you to park a fixed / designated amount on a pre-set date of your choice. Essentially, you are investing on a fixed date of every month let’s say.
This basically removes the worry of timing the market, which is still a big puzzle even to great financial pundits. If the markets are down, possibility of you getting more units in your mutual fund is higher.
The other alternate mode available is to ask for the purchase of specific number of units into your account. This basically means that your monthly investment amount might vary slightly but still a better option many investors consider pursuing.
Since all your monthly investments go through varying market conditions and rates, SIPs give you the best of Rupee Cost Averaging at all times. With consistency in approach and disciplined investment responsibility, you tend to have accumulate more units and also perhaps the per unit cost is also lower.
Like how the timing of the market is quite difficult, we could never know the bottoms or tops of the market, which also difficult. SIPs are the sure shot way to weed out any such timing related challenges that most of us will encounter while we invest. It will do immense good for you to enroll for a SIP and start the ‘Healthy Habit of “SIP”ping’.
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