SIP Investment: Starting investing at the age of 25 makes it easier to achieve long-term financial goals. A monthly SIP of Rs 10,000 can create a retirement fund of Rs 10 crore in 34 to 41 years at 12% to 15% annual return. This shows the power of compounding.
SIP investment: Creating a retirement fund of Rs 10 crore can be a reality rather than a dream. Especially if you start investing early. According to a report, by doing a SIP (Systematic Investment Plan) of Rs 10,000 every month from the age of 25, you can accumulate Rs 10 crore by retirement.
The report states that if your annual return remains 12%, then in 41 years i.e. by the age of 66, your fund will cross Rs 10 crore. During this time your total investment will be Rs 49,20,000. Your profit amount will be Rs 10,48,90,060.
If you have 13% and 14% annual return, then how many years
It is another matter that if your return is 13% annually, then it will take you only 38 years to accumulate Rs 10 crore. That is, you will be ready for retirement at the age of 63. In this case, your total investment will be Rs 45,60,000. In this, you will have a profit of Rs 9,70,74,541.
On the other hand, if your return is 14% annually, then you will accumulate an amount of Rs 10 crore at the age of 61. This means that in this case you will have to invest for only 36 years. During this time you will invest Rs 43,20,000 and you will have a profit of Rs 9,77,40,795.
Also Read- Mutual Fund SIP: You can make Rs 6 Crore with a SIP of Rs 10,000, know how much you will have to invest
What will happen if the return is 15% annually?
Just imagine what will happen if your return is 15% per annum? Then you can raise Rs 10 crore at the age of 59. That means your dream will be fulfilled in just 34 years. In this case, your total investment will be Rs 40,80,000. Your profit will be Rs 9,50,66,868.
It is clear from this report that by investing early, you get the benefit of compounding. This makes your money grow faster.
This report is also proof of how important it is to start investing early. If you also want to live a comfortable life after retirement, then start investing from today itself. Remember, if you start investing late, you will have to invest more money and will also get less profit.
Related Articles:-
PNB Bank FD Rates Hike: Punjab National Bank increased interest on FD, check new interest rate
Government gives Diwali gift to railway employees! 78 days extra salary announced, check details
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
