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Mutual Fund SIP: Tool to Make The Impossible Possible
Outlook Money
|August 2024
A mutual fund systematic investment plan allows you to reinvest the interest earned into the fund, thus helping you to build a big corpus even with small contributions over the long term.
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Sarah is a young computer professional, who wants to gain financial independence. She has big dreams - travel the world, own a cosy home, and save good money for her future. But with a fixed salary, saving a huge amount for these goals is impossible.
SIP is the tool to make Sarah’s impossible goals possible. With SIPs, Sarah can invest a fixed amount at regular intervals into her chosen mutual fund schemes.
In this article, we will explore whether investing in mutual funds through SIP is an effective strategy for wealth creation.
SIP AND WEALTH CREATION HERE'S HOW SIPS CAN HELP WITH WEALTH CREATION:
Compounding Interest
This story is from the August 2024 edition of Outlook Money.
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