All you need to know about how to accumulate Rs 1 crore in 10 years via SIP
By Lokmat English Desk | Published: July 13, 2023 06:24 PM2023-07-13T18:24:07+5:302023-07-13T18:24:07+5:30
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Scheme To Become Millionaire: Be it a working person or a businessman, everyone dreams of becoming rich. Many times people are unable to save even after earning well. So they have to bear financial hardship.
But if money is invested properly, nothing can stop you from becoming a millionaire. Today we are going to tell you about these methods of experts, by which you can accumulate funds of crores by saving just 100 rupees per day.
Even if your salary is low, you can easily save Rs 100 per day. You don't need big investments to get rich.
It also often happens that many people wait for a salary hike. They say that once the salary increases, the investment starts. But in reality, that rarely happens and investments are made.
You can create a fund of Rs 1 crore by saving Rs 100 per day. The best option for this is SIP. Through SIP, you can accumulate funds of Rs 1 crore by saving just Rs 100.
Its formula is very simple. Many mutual funds have given bumper returns to investors over the long term. There are some funds that have given returns of up to 20 percent. Nowadays most people are aware of mutual funds.
If you save Rs 100 per day, you will save Rs 3000 in a month. If you invest this in a mutual fund and get annual returns of up to 20 percent, in 21 years i.e. 252 months you will have a fund of around Rs 1,16,05,388.
During this period you will accumulate a total of Rs.7,56,000. Even if you get a return of 15 percent instead of 20 percent, you will get around Rs 53 lakh. If you want to accumulate crores in a short period of time, you have to increase your own investment amount.
