Investment Tips: Whenever it comes to safe investments, most people seem to think of this. So, if you’re considering a safe investment, you don’t need to worry. Today, we’re going to tell you about ways to save money that can create a corpus of lakhs by investing just the price of a cup of tea.
If you quit your habit of smoking a 10-rupee cigarette every day and invest this money for the long term, you can accumulate a corpus of lakhs. With this money, you can buy a car or fulfill other needs.
This dream can be fulfilled through a SIP plan in mutual funds. Investors also receive compounding interest through SIPs, which increases the likelihood of higher returns in the long term.
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Start investing with just ₹300.
If you save ₹10 every day, or invest ₹300 every month in a SIP, you can grow your savings by 10% every year. Over the next 30 years, you can accumulate a corpus of over ₹4.5 million. A 15% annual return on your investment will result in a corpus of ₹4.5 million.
It’s important to note that your investment will only be ₹592,000. This doesn’t necessarily mean you’ll accumulate ₹4.5 million in returns. It’s worth noting that there are many schemes in the market that offer excellent long-term returns.
What is a SIP?
SIP is an easy way to invest in mutual funds. Through this, you can invest in mutual funds monthly. SIP is similar to a bank RD, offering higher returns than a bank RD. Fixed income is deducted from your bank account at regular intervals every month to support the SIP.