Annual appraisals are the right time to take one of the most important decisions for long term wealth creation.
Increase your SIP!
It’s appraisal time, and no we are not talking the kind of appraisals Swiggy did, though that was kind of funny. We are talking about appraisals at work.
The average employee is expected to receive a salary increase of 9.7% this year, compared to 9.5% last year. Consumer internet companies are expected to lead the pack with an 11% increase.
We advise you to increase your SIP by the exact amount as the increase in your salary. Simple as that. This one small step, done every year can lead to huge differences in your retirement kitty or personal wealth.
How much you ask? A SIP that is increased 10% every year for 20 years will double your corpus.
And it all starts with a simple action you take today.
On Kuvera, we have made increasing your SIP amount really simple. No need to stop your existing SIPs. Just go to the SIP page and click on your SIPs and use the edit icon to increase your SIP amount.
And if you are one of the lucky few who is also getting a bonus, then first take your friends out for a party and then invest part of the bonus in the same schemes you are investing in.