Systematic Investment Plans (SIPs) are designed to provide a steady income and financial security, especially during retirement. CA Nitin Kaushik emphasizes the importance of a step-up SIP strategy, which involves increasing monthly investments by 10% each year. For instance, starting with a ₹2,000 monthly SIP at age 25 could yield approximately ₹70.6 lakh by age 55 at a 12% return. However, factoring in 6% inflation reduces the real value to just ₹12.3 lakh in today's terms. By implementing a step-up strategy, investors can potentially reach a corpus of ₹2.17 crore, transforming their SIP from a mere hobby into a robust retirement fund. This approach aligns investment growth with career earnings, helping to counteract lifestyle inflation and enhance the compounding effect. SIPs are accessible to anyone over 18 and are particularly beneficial for new investors and those with stable incomes seeking long-term financial goals.