If you dream of becoming a millionaire, then you can fulfill this dream in a few years. For this, you have to invest Rs 10,000 every month. Know how an investment of 10000 can make you a millionaire.
It is said that money makes money. This means that if you want to earn a lot of money, then you should invest somewhere and your investment will make you a lot of profit. Investment teaches you to save and works to curb your unbridled expenses. But the biggest question is that where to invest, from where you can get better profits and you can become the owner of maximum amount in less time?
In this case, Financial Advisor Shikha Chaturvedi says that in today’s time, the best way of investment for a working person is Systematic Investment Plan i.e. SIP. SIP gives better returns in less time and gets the benefit of compounding. So far, in most of the cases it has been seen that on an average 12 percent profit is made through SIP and if your luck favors you, then it is not a big deal if it reaches 15 percent. Through SIP, a person can easily fulfill the dream of becoming a millionaire and a millionaire in no time. Know how?
Long term investment in SIP gives benefits
Shikha says that in today’s time people in corporate earn a lot. Earning 50 to 60 thousand rupees is not a big deal in today’s time. At the same time, this much salary is easily available in a government job as well. If you earn 60000 rupees per month, then at least 10000 rupees can be easily withdrawn for investment, the remaining 50000 rupees can be spent as you want. If you invest these 10000 in SIP, then you can easily make 50 lakh or even one crore rupees in a few years. The longer you invest in SIP, the more you get the benefit of compounding.
This is how you will become the owner of 50 lakhs and one crore
According to SIP Calculator, if you invest Rs 10,000 every month in SIP for 15 years, then you will invest a total of Rs 18,00,000. According to 12 percent compounding interest, in 15 years you will get a profit of Rs 32,45,760, which is much more than your invested amount. In this way after 15 years you will get 32,45,760+18,00,000 = 50,45,760 rupees. On the other hand, if you continue this investment for 5 more years, that is, invest 10000 continuously for 20 years, then you will invest a total of 24,00,000 and you will get an interest of about 75,91,479 rupees according to 12% compounding. After 20 years you will get 24,00,000+75,91,479 = 99,91,479 total rupees i.e. around 1 crore rupees. If the profit is more than 12 percent, then the profit will also be much more.
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