SIP Investment- Big news for investors. If you want to become crorepati in less time, then this article is made for you. there is no shortcut to anything, but if you decide to become a millionaire, then a shortcut for it is definitely found. However, this shortcut is not that short. You can become a millionaire very quickly by investing just 10 thousand rupees every month. You can invest in SIP.
Actually, SIP i.e. Systematic Investment Plan is a way by which you can make good money in the long run by investing a little money every month. If you get a return of about 15% every year, then you can collect an amount of more than 1 crore rupees in just 19 years.
How can you become a millionaire?
SIP is a way of investing in mutual funds . Through this, you can invest a small amount every month and collect a large fund. The compound interest received in this is the biggest strength of this investment. If you invest 10 thousand rupees every month in mutual funds through SIP and you get 15 percent annual interest, then in just 19 years you will collect an amount of more than one crore rupees.
By investing 10 thousand rupees every month, you will invest 22,80,000 rupees in 19 years. You will get an interest of Rs 91,47,124 on this. This interest will be at the rate of 15 percent per annum. In this way, you will collect an amount of more than Rs 1.14 crore in 19 years. That is, you will become a millionaire in 19 years.
Even if you cannot invest 10 thousand rupees per month, no one can stop you from becoming a millionaire. You can become a millionaire even by investing a small amount. However, for this you will have to wait a little longer. You can become a millionaire by investing 8 thousand rupees or 5 thousand rupees every month instead of 10. If you invest 8 thousand rupees every month, it will take you 20 years to become a millionaire. On the other hand, if you invest 5 thousand rupees every month, you will become a millionaire in 23 years.
Why you should choose SIP?
SIP also promotes financial discipline. It makes it easier for people to set aside small amounts of money for goals such as retirement, children’s education or buying a house. Another big advantage of this is compounding. Compounding means that you also get a return on the return you get on your investment. This makes your wealth grow faster over time. The longer the investment period, the greater the effect of compounding.
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