Become owner of Rs 3 crore by saving just Rs 100 daily, know how this dream will come true:

News India Live, Digital Desk: Can you believe that just 100 rupees a day spent on tea, cigarettes or other unnecessary expenses can make you a millionaire? This may sound like a dream, but it is absolutely possible with the power of financial planning and investing.

Often people think that to become a millionaire one has to earn lakhs and save thousands. But the real magic lies in investing small savings in the right place for a long time. Come, let us know how this magic works and how you can create a fund of more than Rs 3 crore by saving Rs 100 daily.

SIP: The magic lamp that will fulfill your wishes

The easiest and most effective way to turn this dream into reality is – Systematic Investment Plan (SIP)Through SIP, you invest a fixed amount every month in mutual funds, due to which you get the benefit of market fluctuations.

Understand it this way:

• Saving ₹ 100 daily means in a month ₹3,000 Savings.
• If you invest these ₹ 3,000 every month in a good mutual fund through SIP.

How to make ₹100 to ₹3 crore? understand the complete mathematics

Now coming to the most interesting question, how will this small amount become Rs 3 crores? its full game Power of Compounding But rests on. Compounding means that you get interest not only on your original investment but also on the interest earned on that investment, which makes your money grow faster.

Let us understand this mathematically:

• Monthly Investment (SIP): ₹3,000 (ie ₹100 daily)
• Estimated Annual Returns: 12% (Generally good equity mutual funds give returns of 12% to 15% in the long run)
• Investment Period: 30 years

Now see the magic of compounding:

• Your total investment in 30 years will be: ₹10.80 lakh,
• But due to the power of compounding this amount will increase to: ₹1.05 crore,

What if the returns were a little better?

• if you 15% If you get an annual return of ₹ 10.80 lakh, then this investment of ₹ 10.80 lakh will grow. ₹2.12 crore Will be done.

Then how will Rs 3 crore be made?
You just have to extend the investment period a little more. If you do this SIP of ₹ 3,000 35 years continue till and you 15% If you get a return of Rs., then your total deposited amount ₹3.92 crore It will be more than that!

how to get started?

The earlier you start investing, the more time compounding has to work its magic. Consult a good financial advisor today, understand your risk appetite and start your SIP by choosing a good equity mutual fund.

Remember, taking the first step is the hardest. Once you develop the habit of saving and investing, the journey of becoming a millionaire becomes very easy. So, are you ready to save your ₹100 today?