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How I Turned ₹5,000/month into ₹6 Lakhs — My 3-Year SIP Journey
In 2020, I was saving ₹5,000/month with no real strategy. I stumbled into SIPs by chance. Today, that same habit has grown into ₹6,12,000 — and taught me 3 major lessons about compounding, patience, and mistakes I wish I avoided earlier.
📉 What Went Wrong in Year 1
In my first year, I panicked during a market dip and pulled out my SIP investments. That single move cost me potential gains and broke the compounding chain. I learned the hard way that reacting emotionally to market swings is a recipe for regret.
📈 Lesson Learned: Consistency Beats Timing
- Missed rallies by being out of the market
- Lost out on rupee cost averaging
- Peace of mind improved with automation and discipline
🔄 My Portfolio Before vs After
Before (2020)
- Random savings in bank account
- No real investment plan
- Low returns (2-3% p.a.)
After (2023)
- Disciplined SIPs in diverse mutual funds
- Portfolio value: ₹6,12,000
- Average returns: 13-15% p.a.
🧠 What I’d Do Differently If Starting Again
If I could start over, I’d set up my SIPs and forget about the daily market noise. I’d diversify a bit more, avoid panic-selling, and trust the process. Most importantly, I’d start even earlier — because time is your biggest ally in compounding.
Tax season can be a stressful time for many people, but with the right guidance, it doesn’t have to be. Filing your taxes doesn’t have to be challenging if you know what steps to take and what forms to fill out. In this article, we will provide you with a step-by-step guide to filing your taxes, ensuring that you have everything you need to know to successfully complete this important task.
Step 1: Gather your documents
Before you begin the process of filing your taxes, it is crucial to gather all the necessary documents. This includes your W-2 form from your employer, any 1099 forms if you are a contractor, investment statements, mortgage interest statements, and any other relevant financial documents. Having all these documents in one place will make the process much smoother.
Step 2: Choose the right tax form
There are several different tax forms that you can use to file your taxes, depending on your financial situation. The most common forms are the 1040, 1040A, and 1040EZ. If you have a simple tax situation, such as no dependents and only one job, the 1040EZ form may be the best option for you. If your situation is more complex, you may need to use the 1040 form.
Step 3: Fill out the tax form
Once you have chosen the right tax form, it is time to start filling it out. Make sure to include all the necessary information, such as your income, deductions, and credits. Double-check all the numbers to ensure that they are accurate, as any errors could delay your refund or lead to fines.
Step 4: Submit your tax form
After you have filled out your tax form, you can submit it either electronically or by mail. If you choose to file electronically, you can use tax software or an online service to do so. If you prefer to file by mail, make sure to send your form to the appropriate address for your state.
Step 5: Pay any taxes owed or wait for your refund
If you owe taxes, make sure to pay them by the deadline to avoid any penalties or interest. If you are due a refund, you can expect to receive it within a few weeks of filing your taxes. You can track the status of your refund on the IRS website.
By following these steps and being organized throughout the process, you can make filing your taxes a much smoother experience. Remember to keep copies of all your documents and records for future reference. If you have any questions or need help, consider reaching out to a tax professional for guidance. With the right resources and knowledge, you can successfully navigate tax season and ensure that you are in compliance with the law.
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How to file taxes?