Investment Tips: The craze of SIP among investors is continuously increasing. SIP of more than 13 thousand crores was done in the month of October. Financial experts say that with a SIP of only 10 thousand you can become a millionaire in 20 years.
Investment Tips: The stock market is booming. Investors are investing in the market on a large scale. Despite the slowdown in the global economy and the increase in interest rates by the Federal Reserve, investors are looking crazy about investing in Mutual Funds. With the help of SIP, investment in mutual funds is continuously increasing. According to AMFI, a record SIP of 13041 crores was done in the month of October. SIP of 12976 crores was done in September. However, the figure of investment in equity funds decreased last month and a total of 9390 crores was invested. In September, a total investment of 14500 crores came in equity funds.
Emphasis on SIP to create wealth
Investors have become well aware of the glory of SIP. They know that this is the best way to create wealth. According to Sanjeev Bajaj, Managing Director and Joint Chairman, Bajaj Capital, and Gurmeet Chadha, CIO, Complete Circle, with a SIP of just Rs 10,000, you can create a fund of Rs 1 crore, which will come in handy in old age.
10 thousand to 1 crore
If you are getting only 12% annual return, then SIP of 10 thousand will become 8.16 lakh in five years, 23 lakh in 10 years, 50 lakh in 15 years and 1 crore in 20 years. If you are 20-30 years old, then in terms of retirement planning, an investment of 10 thousand can be done every month. At the time of retirement, you will get such amount, due to which the whole life will be spent comfortably.
Expert told 5 big advantages of SIP
1. Regular investment beneficial in long term.
2. Beneficial considering the ups and downs of the market.
3. The risk in investing through SIP is less.
4. SIP gives the benefit of compounding.
5. Better to achieve SIP goals.
30% jump in SIP investment
Investors are understanding the compounding benefit of SIP very well, so from May 2022, SIP of 12 thousand crores per month is being done continuously. In the first 7 months of the current financial year, SIP registered a growth of more than 30%. Compared to last year, this financial year is being invested heavily. In 2021, SIP investment between April-October was 67 thousand crores. In the year 2022, SIP of 87 thousand crores was done in the same period.
