The “Age of Investment” has begun in India. The Indian economy is growing at an unprecedented rate and for the first time in modern history, the world is looking towards the Indian markets for fertile investment opportunities. Domestic investors have also awakened to this fact and the number of investors is slowly on the rise, including women investors.

But in the case of our country, we have yet another strength that can be utilised to its optimum not only for personal financial growth but for the country’s economic benefit also – the concept of “Har Ghar SIP”. Har Ghar SIP aims to give every household the opportunity to be a part of India's growth story through the power of SIP (Systematic Investment Plan). That’s a herculean task in the second-most populous country, but not an impossible one.

If you decide not to compromise on your dreams and the dreams of your loved ones, SIP can make it possible. Every person is different, each has a unique mix of income, risk appetite, dreams, and time horizon. SIP has something for everyone. All you need to do is make it work for you. Here’s how:

1. Start Now!

Often, we keep putting off starting a SIP, thinking we will do it when we “earn a little more”. But as our income grows, so do our expenses and we never can gauge how much is really enough. Before we know it, we have lost a lot of time in just planning and calculating, rather than actually investing.
So, first things first – stop delaying and start investing! SIP is one of the most convenient and flexible modes of investment available today. The beauty of a SIP is that, just like your dreams, it has no limits and boundaries. But the sooner you start, the more time your SIP gets to work its magic. So even while you rest at home, go on a vacation, or are busy with other work, your SIP in a suitable mutual fund scheme can keep working nonstop in the background to help your money grow in the long run.

2. Learn on the go:

Many people refrain from investing in the stock market due to a lack of knowledge. Swimming in uncharted waters can be scary. But if you only read and do not invest, you are losing time and time is money in the investing world.

While theory is important, so is practical experience. There is a plethora of mutual funds you can choose from to start an SIP. Those with an adventurous appetite can invest in equity funds, while the more conservative can go with hybrid funds.

Based on your needs and risk profile, you can mix and match various funds to help fulfil your dreams. Which one can be the best for your financial goal? That is something you can learn on the go. Here too, SIPs make it easier and more affordable to invest in multiple funds without taking a sizable chunk out of your monthly budget.

3. Every contribution count:

When dreams are big like buying a house in 10 years, a Rs. 1,000/- SIP may look like an insignificant and trivial thing. And you can’t afford to have a bigger SIP. Then why not have a family SIP for major financial goals? Everyone from a teenager to a retired senior citizen can have his or her own SIP – and each of these SIPs count! Every penny that goes into the common family SIP adds to the total invested amount, thus giving your SIP more scope to grow. From a Rs. 500 SIP to a Rs. 5 Lakh one, each contribution can aim to take your family closer to achieving your goals in the long term.

4. Onto the Next!

So, you and your family have saved, invested through SIP and finally achieved your goal - what next?

Simple: onto the next goal!

There are some who are confused about their financial goals. Buying a house or car or going on a vacation are some common financial goals. But there are also goals like starting a play school or learning pottery or publishing your book. Age has nothing to do with goals. A lady started selling sweets at the age of 90, for her goal was to earn her own income. So, find the thing that brings a smile to your face and fulfill it with your own savings, your very own SIP. It can be as small as Rs. 500 per month, but it will be your own.

When it comes to SIP, any way you adopt is a step closer to your goals. With every house and family waking up to the clarion call of Har Ghar SIP, make sure you aren’t left behind in your journey to wealth creation and goal realisation. So, make the transition from Har Ek SIP to Har Ghar SIP right away!

Reference Links:

https://newsonair.com/2022/03/16/india-breaks-into-worlds-top-five-stock-markets-in-terms-of-market-capitalization/

https://www.cnbctv18.com/views/the-rise-of-the-retail-investor-during-the-covid-19-pandemic-12245932.htm

https://www.livemint.com/money/personal-finance/international-women-s-day-why-are-indian-women-investing-in-stocks-and-mutual-funds-11646705206750.html

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.