A saving mindset has been instilled in the Indian generation for years. But as time is changing, the saving attitude is now moving towards saving and investment, which is more worthwhile. Saving and investment go hand in hand. Savings is a sensible starting point for starting any investment. Saving is a way to collect funds to purchase various assets and invest. There are multiple investing ways, including mutual funds through a SIP (Systematic Investment Plan), stocks, shares, bonds, etc. Mutual Funds through SIP are one of the most popular and safe ways of investing in which investors have to make regular, automated contributions periodically. SIP makes planning investments easier, which further helps achieve long-term financial goals. This can be done using a sip calculator, which allows for systematic planning of the target amount to invest at periodic intervals in a chosen mutual fund scheme.
The SIP calculator is available on various online applications and websites where an investor gets an idea of the returns on their mutual fund investments made through SIP. The amount of return varies from scheme to scheme, along with the amount invested in the mutual funds, for which the SIP calculator calculates the wealth gain and expected returns. The monthly SIP is the most common and popular, where a fixed sum of the amount on a specified month date is invested in the opted mutual fund scheme. Besides these, several other calculators are available, like the pension calculator, which reduces the risk of calculating any wrong amount and prevents missing any needed value.
There are many benefits of the SIP calculator, and a few of them are as follows: –
- Latest Updates – using the SIP calculator, one can calculate the real-time stock values for SIPs per the present condition of the scheme. It is also used to foresee the projected growth of the scheme based on past performance. In addition, it provides the estimated profit on investment which one can expect.
- Systematic Way to Invest – through the SIP calculator, one can get a systematic approach to planning the investment prior. It provides investors with details on how to invest in mutual funds correctly through the SIP and how to diversify the amount and duration of the investment. One can use it to plan the investment for 5 to 10 years systematically.
- Personalized Schemes – one can benefit from investing as per personal details. Using it, one can easily get a systematic investment plan calculator according to the customized results. The calculator provides a different plan for every individual since the amount of investment and the schemes for each differ.
- Ease of Calculating – the calculator provides the ease of calculating and an instant calculation without hassle. One needs to fill in some required details to get the exact amount to plan further investment for the longest time they need. It provides the instant result and saves a lot of time.
Thus, using the SIP calculators saves a lot of time and effort to calculate different amounts for each individual. The calculator is available on various websites, such as 5paisa, where one can calculate the wealth gain and expected returns for monthly SIP investment in mutual funds.