Crorepati Calculator: You can earn Rs 1.19 crore by investing just Rs 1000 per month, know in how much time and how.
Crorepati Calculator: In this era of inflation, saving money has become a very difficult task. However, people definitely deposit some money every month through bank FD and post office schemes. But despite saving money for years, the returns are very low. Meanwhile, Mutual Fund is no less than a boon for people. Through this, big returns can be obtained by investing only a few rupees every month.
During this time, using a mutual fund calculator, investors can choose a fund keeping in mind their income. In this, they also get the option to increase their investment over time.
What is the compounding effect?
Under compounding (Mutual Fund Compounding), returns are received on the amount invested as well as the interest received on it. This increases the return received along with the investment amount.
How to become a crorepati with a SIP of Rs 1,000?
At present, if you start investing Rs 1,000 at the age of 20, Rs 3,000 at the age of 30 and Rs 4,000 at the age of 40, then you will become a crorepati (Crorepati Calculator) by the age of 60. For this, you will have to invest Rs 1,000 every month in a mutual fund scheme for the next 40 years from the age of 20. This investment can be Rs 1.19 crore with an annual return of 12 percent. In this, if you increase your investment by 10 percent every year, then your return can be Rs 3.5 crore.
Apart from this, if you invest Rs 3,000 every month in the fund from the age of 30, then in the next 30 years your return will be Rs 1.05 crore. Whereas by increasing the SIP amount by 10 percent every year, the return can be Rs 2.65 crore. Finally, if you start a SIP of Rs 4,000 at the age of 40. In this situation, you will get a return of Rs 40 lakh in 20 years. Whereas by increasing your investment by 10 percent every year, this return will be around Rs 80 lakh.
