By how much percentage should I increase my SIP?
- Neeraj
You have to answer this question yourself. If you are doing an SIP and have a big expense coming next year, and you will not be able to save, then make it zero. If you are going to get an increment and if some of your expenses are going to come down, then accordingly increase your SIP contribution. A thumb rule for this, if you are asking, simply make sure that you are increasing your SIP to the tune of the percentage rise in your income. Suppose, you are making Rs 50,000 every month and investing Rs 10,000 out of it. And from next month you start making Rs 55,000, then increase your investment to Rs 11,000. So that in percentage terms it remains the same.
This article was originally published on December 17, 2018.
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