mutual funds: Rs 1 lakh mutual fund SIP can be the new status symbol: Radhika Gupta of Edelweiss Mutual Fund

She posted on social media platform X, “With India financializing, the new measure should be the size of your monthly SIP book. I would love to hear young people say, “Meri toh mahine ki 1L ki SIP hai, what about you?”

Gupta also mentioned that, once upon a time the measure of wealth in Delhi NCR was the number of properties one had. Showing off at that time meant talking about one plot here, one there and a nearby office space. She particularly talked about Delhi NCR in her post as she comes from this place.

She wrote, “Once upon a time in Delhi NCR where I come from, the measure of wealth was the number of properties you had. Showing off meant talking about one plot here, one flat there and another office space close by.”

Once upon a time in Delhi NCR where I come from, the measure of wealth was the number of properties you had. Showing off meant talking about one plot here, one flat there and another office space close by.

With India financializing, the new measure should be the size of your…

— Radhika Gupta (@iRadhikaGupta) September 17, 2024

Several users commented on Gupta’s post. A user wrote, “Quite contradictory to what you wished for — the young of today would say, I have phone EMI, I have car EMI, I have foreign holiday EMI, I have cash loan EMI, etc. etc. It’s not SPI, it’s EMI financialization.”

Another user wrote, “I hope that happens sooner. Coming from Delhi NCR myself, still takes me years to convince friends to either start or increase the SIP amount from where they started from. “Saving hi nahin hai to invest” i m often told but then their insta feeds tell a different story:-)

In her earlier posts, Gupta mentioned that, one should not view an SIP as a spending but as an investment in the future. SIPs are meant to be a long-term investment. First, invest in your future (Mercedes), and then consider other expenses (medicines).

First Mercedes then medicines 😎

Everyone’s worried about being beaten by SIPs. But small correction – SIP is not a spend, but an investment in the future.

Keep investing India 🇮🇳 https://t.co/1wKYHRoslA

— Radhika Gupta (@iRadhikaGupta) September 11, 2024

This statement by Gupta was in response to a user’s post highlighting that India’s monthly expenditure on SIPs surpassed its monthly spending on medicines just a few months ago, in March 2024.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)