North India Statesman
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News India Live, Digital Desk: Is it a monthly salary of Rs 20,000? Rs 2 crore fund Is it possible to make? It sounds like a dream, especially when inflation is eating away at everything like a witch. But believe me, this dream can come true. For this you just Smart planning and discipline Is required.
So let us know how this is possible. its whole secret is hidden Investment and Compound Interest (Power of Compounding) In the strength of.
The first and most important step is Start investing as soon as possibleThe younger you are, the more time your money gets to grow, If you have a salary of Rs 20,000 every month just Rs 3,000 If you also start investing, this can be a great start.
This is the complete plan:
- Where to invest? – is the best way to Systematic Investment Plan (SIP) Through Equity Mutual Fund Investing money in. Bank FD or savings accounts are also unable to beat inflation, whereas equity funds on average can beat inflation in the long run. 12% to 15% Can give returns up to.
- Discipline is the key: – You have to pay your SIP every month without fail. Whether the market goes up or down, you have to continue your investment.
- If income increases then investment should also increase: – When your salary increases, you should also increase your SIP amount. Suppose your salary increases every year, then you can also increase your SIP amount by 10% increase Do it. This small step will take you to your goal very fast.
Understand with example:
If you start a SIP of Rs 3,000 at the age of 25 and get an annual return of 15%, then after 30 years i.e. at the age of 55, you will have About Rs 1.5 crore Fund will be created. If you keep increasing it by 10% every year, then you figure of 2 crores Can touch even more quickly.
This is not magic, but the result of patience and proper planning. Becoming a millionaire is not just a game for the rich; Even a person with low salary can create a big fund by investing properly.
