Diwali is here and its celebration time. Time to light Diyas. Burn crackers. All your relatives and friends are going to greet you this Diwali. You have got to get your gifts ready. So what are you gifting your friends and relatives this Diwali? Is it boxes of chocolates and dry fruits? A gift of crackers perhaps....sweets....feature phones....smart phones...laptops....The list is long.
But, on this auspicious occasion of Diwali have you thought of gifting your loved ones, something which will last for a real long time? What about gifting your loved ones an SIP in a mutual fund?
Gifting an SIP in a mutual fund can change the lives of your loved ones and bring them financial security. Want to know more on mutual funds? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice / education to ensure that you are not mis-guided while buying any kind of financial products.
To get the latest news on mutual funds please download WealthDoctor App Now!
Before gifting a Systematic Investment Plan popularly called SIP to your loved ones, you better know what it is. An SIP is a great way to invest in equity. An SIP is not an investment. It is a method of investing in mutual funds. SIPs help you escape the risk in stock markets.
With SIPs you invest in equity in a staggered manner. You invest a certain pre-determined amount, (amount you have decided beforehand), at regular intervals of time, in the mutual fund. This might be once each week, once each month or once in a quarter. SIP is a very good way, to save and invest for a bright future.
Mutual funds are the new rage in India. After demonetization, banks were flush with cash. So they reduced interest rates offered on SB accounts and fixed deposits. You and other citizens rushed to invest in mutual funds which promised a much higher rate of return. More than 60,000 of our citizens are entering the mutual fund market everyday. This is thrice the monthly average of the past 3 years.
You and other citizens love to invest in mutual funds because they may give a higher rate of return than FD's or savings bank accounts. An investment in mutual funds is higher returns at higher risk.
You can gift your child an SIP this Diwali. You start an SIP in the name of your child. If your child gets gifts of cash from relatives and friends, this money is invested in mutual funds via SIPs. One of the main benefits of starting an SIP in your child's name is you will not touch this money except in great need. This money has emotional value....This money is for the financial security of your child.
You could continue the SIP in mutual funds for maybe 10 or 15 years, making it a long term investment. One of the benefits of staying invested in equity for a long time is you enjoy the power of compounding. You can build wealth for your child.
Gift an SIP to your child this Diwali and build wealth which can be used for his/her education and marriage.
SEE ALSO: Mutual Funds to invest your money
AMFI (Association of Mutual Funds in India) is running a highly successful campaign Mutual Funds Sahi Hai. You may feel you need a lot of money to invest in mutual funds. Not True... Mutual Funds Sahi Hai says, Invest just Rs 500 a month in an SIP of a mutual fund.
Follow the 3 Mantra's for a good investment in mutual funds. Start Early. Invest regularly. Stay invested for the long term.
SEE ALSO: Mutual Funds Sahi Hai
So what have you decided this Diwali? Will you gift your loved ones an SIP in mutual funds? Will you gift them wealth and financial security for which they will remember you for many years to come? Be Wise, Get Rich.
The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.
Subscribe to our Youtube Channel
Hello friend! I am your personal financial advisor. By the end of this interactive session, I will help you to plan yours and your family's finances to ensure a better future.