“Those were the days…”

These words often remind people of their school or college days. Back in those days, almost all of us had dreams of what we’d like our futures to be like. Everything was possible and exciting!

It’s funny how when we have no money, we are full of ideas and dreams. But once we become financially independent and stable, those very dreams take a backseat. From carefree, life be-comes cautious and calculated. Anything “exciting” spells “risk” in our minds, and our jobs and business routines feel safer. We now have our own money, but we also fear losing it.

If this sounds like your life story too, this article is for you.

Refuel your Dream Tank with SIP:

Dreams are the fuel of life - and Systematic Investment Plans (SIPs) can aim to fuel your dreams. Whether you have a steady flow of income from a salaried job or run your own business, or are a freelancer with a dynamic income flow, an SIP can work for you. Whether your dream of visiting exotic locations or pursuing an expensive hobby or even buying a custom-made car, starting an SIP can help – that too.

SIPs have the rare quality of being convenient and flexible yet can be effective. Even the smallest SIP amount of Rs. 500 can snowball into an amount which can aim to fulfil your dream – all you have to do is START.

The SIP Mantra - Assess, Align, Advance!

For those who already have SIPs, it’s probably time to review and revise. Even with SIPs, people tend to grow so accustomed to automatically transferring a certain amount to their SIP every month, they forget that SIPs are flexible and the amount can also be increased with your growing income. So take a few minutes to assess your current financial situation and align your SIP to it accordingly. Who knows, you might be just a SIP or two away from your dream coming true!

Some big dreams take longer to blossom. Aligning your SIPs with your dreams can be a catalyst in the process. You can also supplement your current SIP with another one. Multiple SIPs can give your investments a much-needed boost. Have a long-term SIP already? Then why not try another short-term SIP as well? Mutual funds offer a range of investment combinations – choosing the right mix of funds can actually speed up your journey to goal accomplishment.

Power, control, accelerate:

The flexibility SIP can bring to investing opens more affordable avenues for investors and gives you full control of your finances. If you are a cautious investor who has never gone beyond debt funds, you can explore large cap equity options with a small SIP. If you want to invest in India’s growth story, go for funds that invest in mid and small sized companies. A mutual fund diversifies your portfolio, and an SIP can give you the power to allocate your funds based on your investment pro-file.

SIP is like running a marathon; you develop your running strategy based on your energy. You de-termine when to accelerate, when to slow down. But all runners have one goal - to reach the finish line. Now, how fast you reach there depends on how you strategise your SIP. You have to look at various aspects like your budget, investment capacity, the fund you want to invest in, your risk ap-petite, investment time, and target amount.

You can accelerate your equity SIP amount in a market downturn, your debt and liquid fund SIP when you are nearing your goal. And if you don’t have time to plan, just continue with the index fund SIP and never miss out on the stock market growth.
Also Read about what to do when you Missed SIP Payment?

Ready for Launch? Go!

Perhaps the most important step in fulfilling your dream is actually taking the plunge once your resources are ready. Often, we end up using our “Dream SIPs” on other things. Utilising your hard-earned money and smart investments to realise your own dream is not being selfish. In fact, it gives you the drive and motivation to do even better in life. No matter how big or small your dream is, if it makes you happy, it is totally worth it. And that is not the end.

Just like your dreams have no end, the number of SIPs a person can have also has no limits. Even as you are sight-seeing on a holiday destination, your SIP is working nonstop in the background, preparing the ground for the next thing on your wish list.

Many of us live the same robotic life - go to work, come home, and get a salary on payday. But it need not be so anymore. A little courage, some planning and discipline can help you break this pattern and live the life you had imagined back in college.
Also read about the SIP's Taxation

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