Use SIP not only to invest, but to fulfil your life’s dreams

A popular writer named Rhonda Byrne suggested in her bestselling book ‘The Secret' that you can accomplish any dream with the power of visualisation. While visualising your desires is a healthy and interesting concept, the book’s philosophy can deliver even better results if you put your determined thoughts into action.

A lot of people wanting to invest money through SIP get so engrossed in the ‘investment aspect’ of it that they lose sight of the dreams they’d like to fulfil with that money. So long as you stay focused on your dreams and not just the investment aspect, you will stay invested through the term of the SIP and eventually fulfil each one of them, as you had planned.

SIP or a Systematic Investment Plan is a type of investment vehicle which enables you to invest in mutual funds systematically and simply. We, at MyBillions, can help you select the right funds, keeping your life’s goals in mind, and thereafter you can invest a fixed amount into those funds regularly. These investments can be on a weekly, monthly, quarterly or even annual, depending entirely on your convenience.

How SIPs can help you realize your life’s dreams

Listing out your life’s dreams and goals is very critical for any financial plan. For instance, you might want to save for a down payment on your dream home, start your entrepreneurial venture in the next 5 years, plan an early retirement or even take your loved ones on a world tour. All of this can be accomplished if you set out clear goals and invest appropriate amounts into SIP regularly. How SIPs help you in this regard is through the power of compounding.

Compounding implies that any returns you make on your investment, are reinvested and earn more returns for you. Let’s explain it to you with an example. Let’s say you are saving to buy a brand-new car after 10 years. You start by investing ₹ 5000 per month into a fund through SIP. This fund delivers a 13% return per annum. So after 10 years, your total investment would stand at ₹ 6 lahks, however, the actual value of your investment would be to the tune of ₹ 12.3 lakh. Now on the other hand, if you had invested for 15 years, your total investment would have been ₹ 9 lakh, but the actual value of it would have stood at ₹ 28 lakh! That’s the power of compounding for you! What can be inferred here is that your returns multiply significantly if you choose to stay invested for the long term. And as mentioned earlier, this is possible if you never lose sight of your dreams.

When you invest in SIPs combined with our advanced and personalised portfolio management system, you can make the most of rupee cost averaging (RCA) and continue accumulating additional fund units with time. As a result, your investments are not impacted significantly by short-term fluctuations, and you’re able to accomplish the planned long-term goals effectively.

On the whole, staying disciplined with SIP and making the most of our experts can help you accomplish any dream that you set out to achieve!

https://www.mybillions.in/post/the-benefits-of-sip