New Delhi, Dec. 3 -- Long-term wealth creation typically requires consistent investing. Wealth advisors often recommend opting for a systematic investment plan (SIP) over a lump sum for the benefit of rupee cost averaging. This means when you invest via SIP, you acquire mutual fund units at different price points, thus maximising the chances of earning higher returns.

Let us suppose you have a financial goal of Rs.1 crore in the next 10 years - how much monthly investment in mutual funds would you require to achieve it?

Notably, it would be inversely proportional to the return on investment. The higher the return, the lower the SIP requirement. For instance, you would need a lower SIP when the return on your investment is 12% vis-a-vis ...