SIP– Nowadays mutual fund SIP is becoming very popular among people. Most of the people are choosing the option of mutual fund SIP to invest money. The biggest reason for this is the return received in mutual fund SIP. If you invest a little bit every month in mutual fund SIP for a long time, then you can collect a good amount of funds. Not only this, you can also become a millionaire by investing in mutual fund SIP.
Most people invest in mutual fund SIP to become a millionaire but there is a method of investing in mutual fund SIP, by adopting which you can become a millionaire. Many people invest money in mutual fund SIP but some mistakes make them suffer loss instead of profit. Today we will tell you about 3 such mistakes, which prevent you from becoming a millionaire through mutual fund SIP . Let’s know.
Withdrawing money from SIP when the market falls
SIP is a market linked scheme. The ups and downs of the market affect SIP. In such a situation, if you are investing in SIP and the market is falling, then you should not stop your SIP or withdraw your money. Many people make such mistakes, which causes them loss. By investing for a long time, you can easily cover this loss. In such a situation, it is not wise to withdraw money from SIP or stop it.
Many people keep changing their funds frequently but by doing so you do not get long term benefits and this affects compounding. Apart from this, many people start with SIP of a large amount but let us tell you that if you do SIP for a long time with a small amount, then you will get more profit. Many people start a SIP and forget about it. You should keep an eye on your funds after starting your SIP and also top-up as your income increases.
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