Amazing is the 'secret sauce' of SIP that makes you a millionaire! Even a fund manager will not tell you these things, know and become rich...

The number of people investing in SIP is increasing day by day. People choose SIP to create a strong fund for the future. But to become a millionaire through SIP, it is important to understand some things or say rules, only then can you get good benefits. So we will know those money-making things of SIP that even a fund manager will not tell you.

Do you also dream of becoming a millionaire through a mutual fund SIP (Systematic Investment Plan)? Although millions of people in the country dream of this, only a few can turn this dream into reality. That is because they follow some such "secret" formula, which even fund managers often do not talk about openly.

While it is true that any fund manager can help you choose the best fund, to create real wealth you need to follow the 'secret sauce'. So today we will understand those hidden rules that can turn your SIP into a millionaire making machine.

The fund manager will advise you to make long-term investments, but he may not emphasize the urgency of "starting early" and the magical compounding effect that comes with it as much as you need. They often focus on the present performance only.

Starting a SIP from your first salary will be the icing on the cake. By the way, if a SIP of ₹5000 is started at the age of 20, then it can give more returns (in the long term, assuming the same returns) than a SIP of ₹10,000 started at the age of 30.

Your fund manager may advise you to switch funds or buy a new fund, but you should always try to increase your existing SIP by a small amount every year (top-up). In fact, top-up can help you reach your financial goals faster.

You should keep adding a small part (eg 5-10%) of your annual salary increment or bonus to your existing SIP. For example, if you have a SIP of ₹ 10,000, then increase it to ₹ 11,000 next year. This small step taken by you can shorten your journey to becoming a millionaire by several years. You will not even realize it and your investment amount will keep increasing, due to which your last corpus can be much bigger than expected.

Often fund managers talk about "market risk", but they probably will not say that the biggest risk may not be the market, but the investor's own emotions (fear and greed). In fact, whenever the market falls (like the Covid crash), investors often stop their SIP out of fear or withdraw the entire fund, which is the biggest mistake. The real benefit of SIP is only available when you continue it even after the market fluctuations.

It is not that the fund manager misleads you by not telling you the important things. Actually, their job is to manage the fund, do research and follow the regulatory rules. In such a situation, you should follow this rule yourself on how to make more money in the future with SIP.

So now if you have not started SIP yet, then start it today. If you are already investing in SIP, then see whether you are following these rules or not. SIP is not rocket science, but to turn it into a machine that makes a millionaire, discipline, patience and understanding of these "secret" rules are very important.