New Delhi, Sept. 3 -- Building a corpus of Rs.1 crore can be an important financial milestone for people planning for long-term goals such as funding a child's higher education or creating a retirement nest egg.

Although the target may initially appear difficult to achieve, starting investments early and maintaining consistency can make the goal more attainable.

Systematic Investment Plans (SIPs) in mutual funds are among the popular routes for creating long-term wealth. Through an SIP, investors put a fixed amount into a mutual fund at regular intervals, generally every month. This approach can encourage financial discipline while giving investments the opportunity to benefit from compounding over an extended period.

However, investor...