6 secret tips of SIP that can make even a common man a millionaire, if adopted then there will be money in the account

The trend of investing through SIP has increased rapidly in the last few years. Despite being a market-linked scheme, its popularity is very high. If invested with the right strategy, then through this even a common man can become the owner of crores. Here are those tips which are very important to adopt in the case of SIP. By adopting them, you can easily achieve the goal of becoming a millionaire.

If you want to get a big investment from SIP, then start investing as soon as possible and continue it for as long as you can. A good amount of fund can be created from long-term SIP. SIP of 20, 25 and 30 years can easily make you a millionaire.

If you have started SIP, then do not break or pause it in between. Maintain regular investment for a long time. It is very important to continue investing regularly to create a huge fund.

SIP is a market linked scheme and the market is always fluctuating. Do not stop SIP in fear of a recession in the market. During a market downturn, you get more units and later when the market rises, you get more returns, so continue your SIP.

If you want to earn huge profits from SIP, then do Step-Up from time to time. As your income increases, put a top-up of 5 or 10% in it every year. This will give you the tremendous benefit of compounding and a big corpus will be created as soon as possible.

Do not invest all the money in a single SIP. Diversify the portfolio. By doing this, you can reduce the risk and get better returns.

Not all funds in SIP are the same, so choosing the right fund according to your need is very important. There is a higher risk in equity mutual funds, but the returns have been quite good in the long term, the risk is low in debt funds, while hybrid funds are balanced. If you want, you can take expert advice in this matter.