I earn 70k inr per month. Saving around 50000. How much I should invest in SIP per month?

 

Deciding how much to invest in a Systematic Investment Plan (SIP) per month depends on various factors such as your financial goals, risk tolerance, existing savings, and expenses. However, a common recommendation is to aim to invest around 10-15% of your monthly income for long-term goals like retirement or wealth accumulation.

Given that you earn 70,000 INR per month and already save around 50,000 INR, here's a guideline for how much you could consider investing in SIP per month:

1. Calculate 10-15% of your monthly income:

   - 10% of 70,000 INR = 7,000 INR

   - 15% of 70,000 INR = 10,500 INR

2. Subtract your existing monthly savings from the calculated amount:

   - 7,000 INR - 5,000 INR (existing savings) = 2,000 INR

   - 10,500 INR - 5,000 INR (existing savings) = 5,500 INR

So, based on the guideline of investing 10-15% of your monthly income and considering your existing savings, you could consider investing between 2,000 INR to 5,500 INR per month in SIPs. However, it's important to assess your individual financial situation, goals, and risk tolerance before finalizing the investment amount.

Additionally, consider factors such as emergency savings, debt repayment, and other financial priorities before allocating funds to SIPs. It's advisable to consult with a financial advisor who can provide personalized advice based on your specific circumstances and goals.