Myth 1 - You cannot
invest a lump sum in the same account in which you are doing an SIP:
It is a general assumption among most people that if they are
making an investment through systematic investment plan and they have a surplus to invest, they cannot put it
into that particular account. Truth is
you can push any surplus amount to a SIP account. For example if you are doing
an SIP of Rs 5,000 a month and suddenly have a surplus of Rs 1,00,000, you can
add it into your account while still continue paying the SIP amount in the
coming months.SIP is just a payment mode, not a scheme!
Myth 2 - If I miss
investing for a particular month, will they prosecute me?
People carry on hangovers and bad experiences till death. The
same hold true here. The fear that people have of EMI’s passes on even to the
SIP. Truth is, nobody is going to prosecute you if you miss your payment of SIP.
You are after all investing in SIP and not making a payment for settlement of a
loan! As a matter of discipline, you should not miss any month; however,
missing one month's investment is not a crime!
Myth 3 -SIP is only
for small investors
Nothing can be
farther from the truth. SIP can be done with minimum amount of Rs 500 and the maximum amount you can put in
depends on you. So if you wish to do an SIP with a denomination of amount that
runs into thousands each month, nobody is going to stop you! SIP is just a way
of investing and anybody can invest any amount of money through it per his convenience.
Myth no. 4 : Markets
are high to start a SIP
Well, if that's what you think, then you should be starting
a SIP immediately. That's because as the market corrects you would by
accumulating more number of units, with every fall in the NAV, thus enabling
you to lower you average purchase cost. And, as the markets, post the
correction surge once again, you would gain as the yield will work to be
higher.
Systematic Withdrawal
plan (SWP) is the best way to take out the money from corpus invested through
SIP
If you think Systematic Withdrawal Plan is the best way to
take money out of your SIP account, you are overlooking many factors like
transaction costs that are involved every month. So unlike Systematic investment, systematic
withdrawal is not at all suitable and should be avoided.
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