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How to Achieve Your Financial Goals with the SIP Plans?

This article explains the various mutual fund programmes which provide the opportunity to the investors to fulfil their financial goals. Furthermore, it has elaborated the role of SIP as well to let one know how it functions.

Whatever be the stage of life you are in at present, you are likely to have some financial goals to be achieved. They may either be long-term goals or be the short-term objectives. Setting the realistic goals and following them while tracking their progress is the way you can achieve all your desires. The SIP investment plans are designed with the same objective to help you in planning your financial desires in an apt manner. Before we understand the essence of the SIPs, let’s elaborate the term ‘Goal Planning’.

What is Goal Planning?

From the very childhood of the person, one desires to have something exceptional that he/she might have observed somewhere. You might be having a dream to own a beautiful house, or a luxurious car, or may be an unforgettable vacation. Have you ever thought how can you achieve them? The simple answer is financial planning. A carefully designed game plan acts as the ticket to financial independence.

Goal planning is a process in which you decide your priorities regarding various financial objectives, think about their possibilities and then make a set plan to achieve them within time. Investments are often considered the best way to achieve all desires. But, the question is which investment is best suited to your goals. With the help of goal planning we can figure out the same.

The mutual fund SIP investments provide several strategies which aim at delivering the goal-based solutions to the investors. There are several schemes which are classified in the following categories to help the investors in attaining different investment goals.

Equity Funds - For Capital Appreciation

The equity mutual funds include the schemes which invest in various equity and equity-related securities and tend to deliver capital growth over a longer tenure. As equities benefit the investors in the long-term period, one can invest in these funds to fulfil their goals including wealth creation, retirement planning, and so on.

Debt Funds - For Income Stability

This is another category of mutual fund SIPs which helps the investors in attaining the short-term income goals. The debt mutual funds have investments in the debt and money market instruments which offer regular income opportunities to the investors to earn recurrent interest income from the market irrespective of the volatility factors. These funds are suitable for the investors having low risk appetite and short- as well as long-term financial goals.

Hybrid Funds - For Balanced Growth

The hybrid mutual funds include the schemes having investments in the debt and equity securities on a simultaneous basis. Where the equities provide capital appreciation, the debt instruments help in income generation and financial stability. This way, the investors gain the advantage of a balanced portfolio and achieve their goals of financial stability easily.

Accordingly, the investors can make huge benefits on their investments by opting for the right fund for their portfolio and start a systematic investment plan in the same.

How SIP Functions?

Now, when you have understood the various goals which can be achieved through mutual fund investment plans, let us understand SIPs can help us. As the name suggests, the Systematic Investment Plan is the solution that helps one in planning the investment goals in the best possible manner.

Once you opt for a fund for your portfolio, you can initiate the SIP investments with just Rs.500. The amount is auto-debited from your associated bank account on a regular basis and invested in the scheme by the fund manager. This way, you don’t feel the burden of making a lumpsum investment of a huge amount and can avail the benefits of the mutual fund plans in an efficient manner.

So now, you must have understood why you need the SIP plans to initiate investing in the best mutual funds. Instead of considering investment as a challengeBusiness Management Articles, you must start with it systematically through the SIPs.

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The author is an investment and financial planner working with MySIPonline. She is providing her services to various investors across India to help them achieve their investment goals.

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