Many people dream of becoming a millionaire. This is their goal. And becoming a millionaire is not a difficult task. Just do a little calculation and you will accumulate crores of rupees in the bank. This amount of money can be accumulated in just 15 years. You will become a millionaire.
Now the question is, how exactly can you accumulate 1 crore in just 15 years? According to experts, this can be done through SIP.
What is the calculation?
You have to do SIP for 15 years. That is, it is important to invest in mutual funds every month. Now the question is, how much money can you accumulate 1 crore rupees in 15 years if you deposit it every day? Find out that calculation.
You have to deposit approximately 19 thousand rupees every month. If you can deposit this amount, then you can accumulate 34 lakh rupees at the age of 15. Now you will get a return of 12 percent on this money at a compound interest rate. This is the expectation of return of mutual funds.
In this way, you can save 34 lakh rupees in 15 years and get 66 lakh rupees in interest at home. That means you too can become a millionaire. There will be no problem.
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It can be done in 10 years
If you want, you can save 1 crore even at the age of 10. In that case, you will have to save 43,000 taka to 45,000 taka per month. Then you will save 52 lakh taka. And at a rate of 12 percent, you can get an additional 48 lakh taka in 10 years. As a result, you can become a millionaire. So, following these calculations, start working on becoming a millionaire from now on.
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20-year calculation
And if you want the 20-year calculation, then save approximately 8 to 9 thousand taka every month. In this way, you can save 20 to 22 lakh Rupees. You will get a 12 percent return on this. In that, you can get a return of approximately 48 lakh Rupees. As a result, you can easily become a millionaire.
Note: Do not buy or invest in stocks after reading this article. It is written for information and educational purposes. Before making any decision, take expert advice. Also, do your own research. Then invest in stocks.