Didn’t make it to Russia this year? Watch the next FIFA World Cup in Qatar by investing in SIP
The FIFA World Cup is one of the most-watched sporting events across the globe. This year, this football extravaganza takes place in Russia where 32 teams battle it out to become the world champion. Sadly, India is not participating in this event. But that has not stopped football fans from the country making the trip to Russia for the World Cup. If you were not able to make it, don’t worry. Here is a plan to help you watch the World Cup live in Qatar in 2022.
What are the expenses? The first step in this plan is to identify how much the trip is going to cost you. There are a lot of variables that come into play when you visit a foreign country. The primary expense is of course the tickets. How many matches do you want to see? Two, perhaps three? In the current World Cup, the cheapest tickets cost around Rs. 7,000 and the most expensive tickets are around Rs. 70,000, as per the FIFA website. If you wish to see three matches from mid-priced seats, it may cost you Rs. 90,000 overall. You also need to think about plane tickets, hotels and food.
Currently, economy flights to Doha cost around Rs. 20,000, according to Qatar Airways website. A round trip means your travel would cost you Rs. 40,000. If you know somebody in Doha, great! You can stay at their place. Otherwise, you need to find a good hotel. Assuming you stay for at least a week, your lodging expenses can be anywhere between Rs. 45,000 – Rs. 50,000. And with food expenses at Rs. 20,000, your total expenditure for the trip comes up to Rs. 2 lakh. These are rough estimates and prices could change in four years’ time. So, let’s incorporate inflation and other miscellaneous and let’s peg the entire trip at Rs. 3 lakh.
You need to start saving Alright, now that you know the costs, you need to start saving. Creating a fund of Rs. 3 lakh for a football World Cup might seem like a lot of money. But if you plan carefully and invest, it is quite possible. Remember, you have a time span of four years before the next World Cup. So, it is best to start investing right away to realise this dream. But where should you invest?
For this goal, it might be best to invest in mutual funds.
Investing in SIP
The best thing about mutual fund investment is that you can transfer a fixed amount of money each month into your desired fund through a Systematic Investment Plan (SIP). This way, you don’t need to worry about chasing returns or timing the market. All you need to do is transfer the fixed amount into the fund at a regular interval.
In this situation, let’s imagine you invest just Rs. 5,000 into a liquid fund that offers a return of 10% per annum. In four years’ time, you can accumulate a corpus of Rs. 3 lakh! This is the power of Systematic Investment Planning. Of course, you can invest a greater amount per month based on your convenience and requirement.
To sum up, football is a fun sport that offers a lot of enjoyment and delight. But for the players, it is all about discipline and focus. You can apply the same principles with respect to your investments. Through proper financial planning and careful execution, it is possible to make your dream of enjoying the World Cup live in the stadium a reality. Now all you need to do is to start investing.