How to start SIP

So friends how to start sip is very common question but the answer is not simple.

 As we all are earning fixed income or variable income.

But don't know how much amount is required for the retirement or any short term plan like vacation, house purchase, car purchase , education etc.

So first of all, your plan should be for early retirement and the retirement Corpus should be enough to fulfill , your vacational dreams or day to day requirements.

As we know,  after retirement at the age of 60,  we will have money but don't have time or may have some health issue so we cannot enjoy the life.

So friends my suggestion will be start your investment plan as early as possible so you can retire early and can full fill your dreams.

For that you should have a concrete plan otherwise you will not be able to retire as per Plan.

Friends there are so many ways to start sip,  like if you know any knowledgeable person, he or she may be registered advisor with the respective government authorities, he can help you to simply start sip.

Otherwise different asset management companies provides online facilities also, to invest in systematic investment plan on their portal.

Firstly you have to decide according to your age that how much risk you want to take. 

I will suggest if your age is below 30 or below 35 , you should go for equity plan or equity oriented systemic investment plan.

Just visit the asset management companies portal and  register yourself on the portal of particular asset management company, with your pan card and other government approved ID cards.

Now start a sip of minimum 15% of your gross income.

Just follow these simple steps for at least five years.

And if your income increases gradually , year after year , you should start to invest more in SIP that may be in the same fund or in the different fund.

So the first step is to visit your advisor or particular asset management company portal.

Then register yourself on that portal and maintain particular selected balance in your salary or saving account on that particular date.

Do not see your investment regularly as you are going to invest for long term.

Also do not sell the investment in mid of the plan otherwise your early retirement plan will be just a dream for you.

We will see how a big Corpus of like 1.5 crores to 2 crores in Indian rupees can generate, enough income for your dreams.

That income can be generated through systematic withdrawal plan further that is also called as SWP.

WE WILL LEARN ABOUT SWP IN FURTHER POSTS.

Bye bye

Dustfinance