1.01 crores by the time he turned 60. On the other hand, Pranav saves for the same period of 20 years invests a total of Rs. 43.67 lacs at the age of 60. Raman's money grew for 36 years, roughly twice as long as Pranav, and with a lot less money invested every month. If achieving your financial goals is what you are after, then this is one of the most important reasons for you to start investing right now.
Every day counts.
1,000 every quarter, in an equity fund using the Systematic Investment Plan. Therefore, the average unit cost is lower than average unit price irrespective of market rising or fluctuating. This happens because you get the advantage of buying more units when the market is low and averaging out the purchase price. It is like a recurring deposit with different investment options. Even if you are investing for less than 3 years and investing in debt funds then too the SIP is a powerful tool.