What is SIP? As a newcomer how can I invest in SIP and also make my parents aware about financial planning method? Is it Safe method 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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