This is a good idea! Your portfolio should have a larger equity allocation as you have time to withstand any potential market downturns. Over time you will amass significant wealth by sticking to SIPs.
Ensure you invest only in Direct Plans of these funds. Every Mutual Fund Scheme (there are thousands) come in TWO plans – Direct and Regular. If you do NOT invest in “Direct Plans” then the broker takes upto 1.5% commission yearly (they are paid monthly).
This may appear small but over a career you give away 40%-50% of your total investment (not just initial amount) as this compounds. Even if markets dip, this commission stream flows endlessly.
Switch to Direct Plans within minutes if you haven’t already.
