If you also want to become a millionaire with small investment, then Systematic Investment Plan (SIP) can prove to be the best option for you. You can become a millionaire by investing in a mutual fund through SIP.
new Delhi. Everyone dreams of becoming a millionaire. Becoming a millionaire is not so easy. For less salaried people, this is not less than a dream. His dream can be realized. Often people think that less investment will not benefit as much as will be needed in the long term. But do you know that you can become a millionaire by investing 167 rupees daily? Yes, this is possible through a Systematic Investment Plan- SIP in mutual funds. Let’s know how the dream of becoming a millionaire with such little investment will be fulfilled?
Long-term investment in SIP is recommended so that investors can get the benefit of compounding. If an investor invests for 15 to 20 years, then the rate of increase in amount is more in the last minute and this can give them a bigger return. After starting an SIP in a mutual fund, it is not necessary that you invest only till the scheduled time. You can stop this investment whenever you want. There is no penalty for doing this.
If you save Rs 167 daily, then it will be Rs 5,000 a month. You have to invest Rs 5,000 every month in a scheme of better mutual funds through a systematic investment plan i.e. SIP. If your portfolio gives 12% per annum, then you can earn more than Rs 1.4 crore in 28 years. At the same time, in 30 years, your investment is Rs 1.8 crore and in 35 years you can become the owner of Rs 3.24 crore.
It is important that you keep an eye on your investment. Check this every six months or every year. If the value of your investment is increasing then stay tuned. If you are not satisfied for any reason, you can shift your investment elsewhere in this category.
Source: hindi.news18.com
