For working people, it’s like dreaming of becoming a millionaire because they have to meet all their needs with a fixed salary every month. But if you include savings and investments in your needs, then the dream of becoming a millionaire can easily come true. There are now many such investment options that give many times higher returns and can double and quadruple your corps in no time. If you too dream of becoming a millionaire, then invest in mutual funds through SIP. In doing so, you get an average profit of 12 percent. Sometimes even 14 and 15 percent returns are available. Through this, you can deposit funds worth Rs crore.
Become a millionaire in 20 years
In today’s time, earning a salary of 50-60 thousand is not a big deal. Suppose you earn 60 thousand rupees every month. If you want to improve your future, then limit your spending and set aside Rs 10,000 per month from your salary. You invest these Rs 10,000 in mutual funds through SIP. Keep this investment for at least 20 years.
If you invest Rs 10,000 per month, you will invest Rs 120,000 in a year and Rs 240,000 in 20 years. According to the SIP calculator, assuming an estimated annual return of 12 percent, in 20 years your fund of Rs 99,91,479 or about Rs 1 crore will be ready. Thus, with an investment of Rs 240,000, you will make a profit of Rs 75,91,479, which is about 76 lakhs.
Why SIP is a good deal
Now the question arises: how to achieve such a high return on SIP? In this case, financial expert Shikha Chaturvedi says that in SIP you benefit from interest charges. The longer the duration of the SIP, the greater the interest benefit will be. When compounding, you do not receive income only from the amount you have invested. Rather, you also profit from the profits you made earlier. However, sometimes market volatility can affect the fund’s performance. Basically, it has been seen that SIP generates an average of 12 percent per year. On the other hand, if you give a return of up to 14 or 15 percent, then you can get even more huge returns on the amount invested.
Watch Zee Business Hindi Live TV here
always remember two things
Shiha Chaturvedi says that if you want to improve your future, make it a habit to invest and always remember two things. Firstly, the sooner you start investing, the better, and secondly, the longer you invest, the higher the profit will be. That is why everyone should instill the habit of investing from the very beginning of their work.