SIP- Invest Just Rs 2,000 SIP and Become a Millionaire! Know how
SIP: Who doesn’t dream of becoming a millionaire? You must have it too, right? But can’t figure out what to do? Then today’s news is for you. People often believe that a lump sum investment of lakhs of rupees is necessary to become rich through the stock market or mutual funds. However, the reality is quite the opposite.
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SIP: Who doesn’t dream of becoming a millionaire? You must have it too, right? But can’t figure out what to do? Then today’s news is for you. People often believe that a lump sum investment of lakhs of rupees is necessary to become rich through the stock market or mutual funds. However, the reality is quite the opposite.
In the world of investing, the time period for which the investment is made is more important than the amount invested. SIPs are a boon for small investors, proving the saying “a drop fills a pot” to be true. If you invest just 2000 rupees every month, this small amount can turn into a fund worth crores over the long term.
Start investment only Rs 2000
If you start with Rs 2,000 per month, your total investment over 10 years will be Rs 2.40 lakh. At an average return of 10%, this will grow to Rs 4.13 lakh. If the market performs well and you get a 15% return, this fund could reach Rs 5.58 lakh. This step is like laying the foundation for your portfolio, where investments gradually gain momentum.
20 years of journey
The magic of compounding becomes apparent once you extend your investment for 20 years. Your total investment over this period would be Rs 4.80 lakh. With an average growth rate of 12%, your wealth would grow to approximately Rs 20 lakh. However, if the rate of return is 15%, the same amount would jump to approximately Rs 30.31 lakh, which is 6 times your investment.
30-year period
Your total investment will be Rs 7.20 lakh. At a 12% return, this fund will grow to Rs 70.60 lakh, but at a 15% annual return, your net worth will reach Rs 1.40 crore. This shows how quickly money grows over time.
Keep these things in mind
The success of a SIP lies in consistency. Never stop your installments due to market fluctuations; instead, continue investing during downturns to reap the benefits of rupee cost averaging. A better strategy is to increase your SIP amount a little every year as your income increases, so that you can achieve your goals faster.
The biggest mistake is to be happy when the market goes up and panic when it goes down and stop the SIP. Actually, the real fun of SIP comes when you let it run without stopping. So when the market falls, you get more units for the same amount (which is called Rupee Cost Averaging). SIP is not for those who want to double their money in 1-2 years. In fact, wealth is created in mutual funds only when you have a 5, 10 or 15 year horizon. In fact, you may not see any major change in the first 3-4 years, but after 7-8 years, when compounding starts showing its effect, your fund grows like a rocket.
FAQs: People Also Ask
In the world of investing, the time period for which the investment is made is more important than the amount invested.
In the world of investing, the time period for which the investment is made is more important than the amount invested. SIPs are a boon for small investors, proving the saying "a drop fills a pot" to be true. If you invest just 2000 rupees…
If you start with Rs 2,000 per month, your total investment over 10 years will be Rs 2.40 lakh. At an average return of 10%, this will grow to Rs 4.13 lakh. If the market performs well and you get a 15% return, this fund…
The magic of compounding becomes apparent once you extend your investment for 20 years. Your total investment over this period would be Rs 4.80 lakh. With an average growth rate of 12%, your wealth would grow to approximately Rs 20 lakh. However, if the rate…
Your total investment will be Rs 7.20 lakh. At a 12% return, this fund will grow to Rs 70.60 lakh, but at a 15% annual return, your net worth will reach Rs 1.40 crore. This shows how quickly money grows over time.
Sweta Mitra
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