In a tweet, Radhika Gupta reflected on how property ownership has been a status marker in the past but argued that this should change. According to Gupta, the new measure of wealth should be the size of one’s monthly SIP contributions
The record high SIP numbers came despite the equity mutual funds registering a 12 per cent month-on-month decline in inflow to Rs 7,626 crore in July, data with the Association of Mutual Funds in India (Amfi) showed on August 9.
For an individual aged 25 years, to build a portfolio of Rs 10 crore by the age of 60 years, all it requires is a monthly instalment of Rs 15,000 through the SIP route
Aside from investing, reviewing your insurance policies and paying your taxes, make time to upgrade your investment skills. Negotiate with a lender for a lower interest rate on a home loan if you have a credit score above 800. Important personal finance events are tagged in our money calendar 2023-24.
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One must get over this myth that Mutual Fund SIPs are not Small Investor Plan, but Systematic Investment Plan.