“Alexa, make me wealthy, help my money grow! Try this! And if it does not work, try Mutual Funds”
Sitting ideal and thinking about growing your money has never worked for anyone. In this article, we'll brief you about five different investment ideas that will grow your money with time and inflation.
SIP enables you to invest a certain pre-decided amount at regular intervals of time. Say every month your bank account will be debited with a fixed amount on a fixed date as decided by you. You can start your SIP with as low as Rs 500 to any amount. Moreover, SIP also offers you the benefit of rupee cost averaging.
SWP is exactly the opposite of SIP. It thus enables you to withdraw a portion of your investment every month. Like SIP, in SWP also the fixed withdrawal amount is decided by you. SWP ensures that you get enough money to meet your regular needs every month from the money you have already invested.
MIP is a hybrid fund which is originally debt oriented. This plan offers payouts from the profit your investment makes every month. Such plans allow you to earn extra income in a safer manner.
STP makes you transfer your money from one fund to another on a periodic basis so that you could balance and rebalance your portfolio regularly to minimize the risk as your fund grows in size.
FMP is a close-ended debt fund that has a fixed maturity period. The maturity period can vary from six months to 5 years. You should choose FMP in order to park your money in a safer manner to achieve long term goals.
The great investors say that “Money Makes Money”, and now it’s time for you to think about it and start investing, following the above five plans and experience the ease that Mutual Funds offers.