It is everyone’s dream to become rich . Who doesn’t want his pockets to be full of money? Everyone dreams of becoming a lakhpati, a crorepati. But neither can anyone achieve this position overnight nor is there any shortcut formula to become rich.
However, no one will be able to stop you from becoming rich by saving a little money every day and investing it in the right place. Today’s digital age has made it easy to create a big fund. Today people invest in the stock market to double or triple their money in a short time. But if you want to avoid the risk of the stock market, then Mutual Funds can be a better option. Through Systematic Investment Plan (SIP), you can become a crorepati by depositing just Rs 100 every day…
You may not be able to believe these things, so here we are going to tell you in detail how and how much you will have to invest to become a millionaire through SIP and how much time it will take.
If you want to fulfill your dream of becoming a millionaire, then start saving not much but just Rs 100 every day. After this, invest this money of your savings in mutual fund SIP. You get an average return of up to 12 percent in mutual funds. However, this is not a guaranteed return, it keeps changing from time to time. It can be more or less.
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Suppose you saved Rs 100 daily, which means it became Rs 3000 per month. Now you invested this Rs 3000 in mutual fund SIP. Now if you invest the same amount in it for 30 years continuously, then in this way you will be able to invest a total of Rs 10,80,000 in 30 years.
According to the SIP Return Calculator, if you invest Rs 3000 every month and get a return of 12%, then after 30 years your total investment will be Rs 10,80,000. But if you add a return of Rs 95,09,741 to it, your total money will become Rs 1,05,89,741. You can easily do this calculation yourself using the SIP Calculator.
In this way, by investing in Mutual Funds, you can increase your money many times and fulfill your dream of becoming a millionaire.
Let us tell you that SIP is a great way through which you can deposit money for a long time. However, before investing you should consult a financial advisor. For more information related to this, you can contact a financial advisor.
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