Jerry Mononela- Basics of SIP
I Jerry Mononela and sharing with you basics of SIP. SIPs or systematic investment plans are becoming the most popular things in the investment market these days. All brokerage firms as well as some mobile investment applications, something that we talked about in the previous post, are offering SIPs to their user base. We all have heard the amazing stuff about SIPs in the ads, but they give very little information on what SIPs are. So in today’s blog post, I will be guiding you through the basics of a SIP. What Is A SIP? First things first, an SIP is a Systematic Investment Plan . And according to its name, it is a structure that is designed to systematically invest funds taken from your account either over multiple ventures or concentrated towards one. A systematic investment plan can take funds from an account set up in your name and it can be a mutual fund, trading account, or a retirement account. You would have to transfer funds into such accounts over a fixed period that i