Crorepati Formula: By investing ₹50,000 every month through SIP for 19 years, you can accumulate a fund of close to ₹5 crore during this period. However, to increase this amount to Rs 8 crore, you will have to do some different planning, let’s know.
Crorepati Formula: Everyone wants to become a millionaire and wants to accumulate a lot of money as soon as possible. Especially for retirement, people often deposit money, so that they do not have to face financial problems when they retire. In such a situation, if you also want to do big planning for retirement and want to deposit crores of rupees in your account, then this method of Mutual Fund can be best for you.
Shivans Dandona, Head of Investment Management, FinEdge, told Business Today how you can deposit a huge amount with monthly deposits. If you plan from now, a large amount will be in your account by the time of retirement. It may take you 19 years to deposit Rs 8 crore. For this, he has also shared the strategy. He has told how much should be invested where.
How will a fund of Rs 8 crore be deposited?
A rough estimate shows that by investing ₹ 50,000 every month through SIP for 19 years, you can deposit a fund of close to ₹ 5 crore during this period. However, to make this amount Rs 8 crore, it is advisable to do a step-up of 8% on your SIP every year and this will be enough to reach your retirement fund. The step up will increase on an annual basis. In such a situation, your monthly contribution will also not be affected.
How to prepare the portfolio?
The expert told that 50 thousand monthly SIP should be done in different funds. So that the money is safe and the investment amount also grows rapidly. 50% should be invested in large cap. 25% should be invested in mid cap fund and 25% in small cap fund.
It is worth noting that if you plan the investment in this way, then you can achieve your goal in a few years or till retirement. This is a way through which a big goal can be achieved over time.
(Note- This calculation has been done by experts. You should invest in any fund only after taking the help of a financial advisor)
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