Crorepati Formula For Middle Class: The middle class also wants to have a corpus of crores by the time of retirement so that life after working life can be pleasant. For this, a better investment strategy will have to be prepared.
Crorepati Formula For Middle Class: People coming from middle class who do middle level jobs, due to their limited income, it is very difficult for them to prepare a corpus of crores of rupees for retirement. But you will be surprised to know that if a better strategy of investment and savings is prepared, then it is not a difficult task to prepare a corpus of crores by retirement. This is an investment funda, by adopting which you can accumulate a fund of up to 50 crores.
Suppose someone is 23 years old. He has just started working. In such a situation, if he works till the age of 60, then his working life will be 37 years. Suppose that person’s salary is 60 thousand rupees per month. In such a situation, if he invests 22 thousand rupees per month through SIP, then according to the compound annual growth rate of 12 percent, he can easily achieve the target of making 50 crores by the age of 60.
Investing Rs 22,000 per month in SIP will make it Rs 2,64,000. Based on a compound growth of 17%, your entire fund will become Rs 2,81,000 in a year. Compounding will start showing in the fund from the first year itself. After 10 years, based on the increase in the minimum salary, you can deposit Rs 51,875 every month in SIP. In this way, after compounding, your total fund will become Rs 74,23,000. After 20 years, your monthly SIP will be Rs 1,34,550. By that time, your total fund will have reached Rs 4 crore 37 lakh.
After 30 years there will be a fund of 19 crore 43 lakhs
If you keep increasing the stake of SIP according to your increasing salary, then after 30 years your monthly SIP will be Rs 3 lakh 48 thousand. After 37 years, by the time you turn 60, your monthly contribution in SIP will be Rs 6 lakh 80 thousand at the time of your retirement. Similarly, the fund will have crossed Rs 51 crore.
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