Mutual funds, Dec. 16 -- If you want to accumulate Rs.50 lakh in 12 years, all you need is consistent savings over a period of time. It is recommended to start an SIP (systematic investment plan) and continue it over a period of time to be able to meet your financial goals.

Consistent saving via SIPs provides the twin benefits of compounding and rupee cost averaging, enabling investors to meet their financial goals in time. In other words, you can manage to meet your financial goals if you continue investing in some specific mutual fund schemes over a reasonably long period of time - say 12 years or so.

However, how large the SIP should be is a big question. The amount of SIP, in fact, is contingent on the rate of return delivered on yo...