June 22, 2011 11:11 am
I am planning to invest in SIP.
Can you suggest the best SIPs and what is the ideal amount that is to be put in these.
Imagine if a question is asked
“I need to travel by air. Can you tell which airlines to travel in? How much should I spend?.
I would then ask:“Where do you want to go? For how many days? What is your purpose of going there? Why are you going there? Why by Air? In other words a context needs to be set.
A financial journey also needs to be planned in a similar way. Do you have money to invest? How much? Do you have a toxic debt(ex: Credit card)? Are you insured ? What do you need to invest for? How long do you need to invest? Are you putting all your eggs in one basket?.
These questions (and more) come under the purview of financial planning.
The website “jagoinvestor.com” has great articles on Financial planning: Can start with: https://www.jagoinvestor.com/2009/05/first-step-of-financial-planning.html
For top equity funds for 2010.https://www.jagoinvestor.com/2010/08/list-of-best-equity-diversified-mutual-funds-for-2010.html
SIP calculator for mutual funds (past): http://www.smctradeonline.com/sip-calculator.aspx:
There is no “best” SIP.
And no “ideal” amount.
Even if you finalise a fund and a amount based upon past returns, there is no guarantee that will work for future or for your goals,etc.
Your email address will not be published. Required fields are marked *
Subscribe to FREE Video Course + FREE Ebook + Future Email Updates
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Join 1,60,000 email subscribers
FREE Video Lessons directly in your email daily
144 page PDF ebook with best articles from Jagoinvestor
Get future articles directly on your mailbox + updates
6 PART VIDEO COURSE
You are subscribed for FREE Course now, Check your Email
New here? Create an account