Avoid these common SIP mistakes to ensure your investments grow efficiently and help you achieve your financial goals.
Set clear goals
Starting SIPs without clear financial goals can lead to inefficient investments. Define your goals to choose the right funds.
Be consistent
Missing SIP installments adversely impacts the growth of your investment. Consistency is key to maximising returns over time.
Review performance
Overlooking fund performance can impact your financial strategy. Periodically review SIPs to ensure alignment with your goals.
Assess risk
Investing without considering your risk capacity may affect outcomes. Align SIPs with your risk profile for better results.
Diversify wisely
Concentrating your SIPs in a single fund type may limit growth. Diversify across different funds to balance risk and return.
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