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I am waiting for a correction to start my SIPs. Is this the right approach?

Dhirendra Kumar says why this idea defeats the purpose of an SIP

I am waiting for a correction to start my SIPs. Is this the right approach?
- Shashank

Transcript: The whole idea behind SIPs is that you should invest your money according to a plan. If you are waiting for a correction to start an SIP, I don't understand the logic. Trying to time the market for a one-time investment is more understandable, though still wrong. This is because most investors cannot time the markets effectively. The next best thing is to start your SIP now. People have been waiting for a correction for the last two years. There might be a correction. The market has gone up steadily but the fundamental numbers are not showing great promise. Despite that I would say, start your investment. The whole idea of SIP is that markets will correct and you will be able to benefit. Most investors miss great opportunities, waiting for a correction. For ordinary investors, a disciplined approach is much more important than trying to time markets.

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