SYSTEMATIC INVESTMENT PLAN (SIP)
SIP stands for Systematic Investment Plan wherein you invest specific pre-defined amount after a specified duration to generate wealth over a long term.
Before you decide which funds to invest, always align your investment objective with some specific goal. It will help you to track the progress of your investments against the target corpus you are looking to achieve. For instance, if you are a 30-year-old, want to retire at age of 60 and requires corpus amount close to 7 Crore (taking into account ‘inflation’) with return expectation of 15%, you will need to invest close to 10,000 per month in SIP.