Mutual Fund SIP: If there is even a slight hindrance in investing, then there can be difficulty in depositing crores of rupees. In such a situation, whenever you start SIP, it should be done under a plan. Experts say that it is necessary to have at least one target and you should also have a formula to achieve this target.
Mutual Fund SIP: If you also want to become a millionaire through Mutual Fund SIP and you do not have a lot of income, then you can fulfill your dream by saving only Rs 5000 per month. SIP is a medium in which you can invest from a small to a large amount. You will get compound returns on this amount and your money can grow every day. Gradually you can also deposit crores of rupees after a few years. However, you will have to continue investing continuously.
If there is even a slight hindrance in investing, then there can be difficulty in depositing crores of rupees. In such a situation, whenever you start SIP, you should do it under a plan. Experts say that it is necessary to have at least one target and you should also have a formula to achieve this target. Here we are going to tell you about one such formula, under which you can become a millionaire by investing only 5000 rupees monthly.
The 5:15:22 formula will work
This is such a formula, that if you follow it strictly, you will also have more than 1 crore rupees. 5 means that you are depositing 5000 rupees every month. 15 means that you are getting at least 15 percent return on the amount invested. 22 means that you have to continue investing this amount continuously for 22 years without missing a single month. If you do this, then your dream of becoming a millionaire will be fulfilled.
How much will you have after 22 years?
Now let’s understand SIP calculation. Suppose you are investing Rs 5000 monthly in a fund where you are being given 15% annual return, then after 22 years you will have a total amount of Rs 1 crore 3 lakh 53 thousand. In this, the income from returns alone will be Rs 90,33,295, while your investment will be just Rs 13,20,000. That means by investing less money, you will have crores of rupees.
- SIP- ₹5000 monthly
- Year- Up to 22 years
- Return- 15 percent
- Total amount invested- ₹13,20,000
- Total investment income from returns- ₹90,33,295
- Total money now- ₹1,03,53,295
(Note- Before investing in any fund, take the help of your financial advisor.)
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