Congratulations! You have taken the first step towards a successful financial future by deciding to invest through a Systematic Investment Plan (SIP). The rest is easy.
The next question that you might have is what kind of fund should you be investing in? Before we start with the type of funds, do this exercise:
List down your financial goals such as buying a home, saving for a child’s education, an international holiday, post-retirement corpus etc.
Now further classify these goals into short-term, medium-term and long-term.
Done? Now you are all set to decide the kind of funds you can invest in through SIPs based on your financial goals and when you want to achieve them.
Do an honest assessment of your risk absorption capabilities before deciding to invest in either of the funds listed below.