The dictionary may have its distinct definition of freedom, but in practical sense, financial freedom is the only way you can lead a good life, secure your future and fulfill your goals and aspirations. One such goal could be your child’s foreign education aspirations. Considering that your child would want to be educated in a prominent educational institution, the overall cost can easily run into lakhs of rupees. So, how do you ensure such funds are available in the next 10-20 years’ timeframe, when your child is ready for an exciting new journey in their life? The answer to that is a Systematic Investment Plan (SIP), which is a safe, reliable, and bankable tool to achieve financial freedom.
One of the best SIP plans currently available is Birla Sun Life’s – Sabse Important Plan (SIP). It essentially means the ‘most important plan’, indicative of your precious life goals, such as your child’s foreign education, that take shape over a period of several years. You need to start saving at an early stage and do it in a systematic manner, something that can be achieved through a SIP investment plan.
SIPs are simple, yet smart ways to create wealth for any of your future goals in life. Here’s why you need to choose top SIP plans such as Birla Sun Life’s – Sabse Important Plan (SIP):
Invest in auto-pilot mode – Once you have calculated the total funds required for your child’s foreign education, you just need to allocate the appropriate amount for it on a monthly basis. Thereon, you can just sit back and relax, as funds will be auto-debited from your bank account and invested in equity linked mutual funds. No need to continuously track your investments or lose sleep over market fluctuations, as SIPs are designed to deliver optimal returns in the long run.
Unlock the power of Equity investments – In a developing country like India, equity investment returns have largely been greater than other investment avenues such as bank fixed deposits. When you choose Birla Sun Life’s – Sabse Important Plan (SIP), your funds will be routed to equity linked mutual funds, thereby ensuring the best returns possible.
Leverage investment expertise – At Birla Sun Life, your SIP mutual fund investments will be managed by experienced fund managers, who will ensure that your wealth keeps growing over the years.
Derive tax gains – In case of equity linked funds, there is no tax on capital gains for investments older than one year.
Start small, grow big – Even if your current income is relatively low, you can still start investing in SIPs by contributing small amounts initially. With time, as your income increases, you can increase your SIP investments. As you keep increasing your SIP investments, you will be able to achieve your goals faster. Also, you can create different SIPs for different goals. For example, you can create a different SIP for your retirement, in addition to the SIP for your child’s foreign education.
Fight inflation – Rates on conventional investment options such as bank fixed deposits are continuously decreasing. At reduced rates, these investment options are barely able to fetch returns above the prevailing inflation rate. On the other hand, equity linked SIP investments ensure returns that is considerably higher than the inflation rate.
Birla Sun Life’s – Sabse Important Plan (SIP) is among the best mutual funds for SIP that could secure top quality education for your child from any of the globally-renowned universities or institutes in US, Canada, Europe, Australia and Asia.
For maximum gains, you need to start early. Albert Einstein once said, “Compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t… pays it.” As such, the sooner you start investing in SIPs, the more time you can give your funds to grow.
Many years later, when you look at your child’s graduation day photos, you will realize the fantastic journey it has been and how Birla Sun Life’s – Sabse Important Plan (SIP) made it possible.