India, Feb. 20 -- ATK

New Delhi [India], February 20: Systematic Investment Plans (SIPs) are one of the most reliable and disciplined ways to build wealth through mutual fund investments. However, a static SIP contribution might not be sufficient to meet long-term goals, given the impact of inflation and evolving financial priorities. The solution? Increase your SIP contributions periodically through step-up SIPs.

A step-up SIP allows you to raise your SIP amount annually or periodically. It is designed to align your investments with growing income and varying financial goals. You can choose to increase your contributions by a fixed percentage (e.g., 10%) or a fixed amount (e.g., Rs1,000) every year.

But how exactly does this help achi...