Sir i want to start SIP for the amount of Rs 1000 but did not have much knowledge about this bcoz i am investing first time in mutual funds please help me that which is better for Wealth creation like open sceheme or close or short or long there are so many companies in this please also send name of some good companies to invest.

As a layman, you can relate SIP to Recurring Deposits 'RD'). So RD is where you put certain sum of money in your Bank as FD for a given interest rate. Similarly, SIP is a Systematic Investment into Mutual Funds wherein certain sum of money is invested into Mutual Funds on a given date and given price. 

Consider this, you are investing into good and quality companies periodically and as these companies do well in their business, the value of your holdings increases. However, you should consider SIPs for long term such as 7-10 years. Get in touch with good financial advisor so that they can guide your parents properly and help you achive your desired results. 

- Tejas Lakhani


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