If you also want to become a millionaire in a short time, then you can start investing in mutual funds. Good profits can be made in it. Although there are many types of mutual funds, investing through SIP Mutual Funds is less risky. Therefore, if you want to collect funds up to one crore by the age of 45, then you will have to save 367 rupees daily.
Usually people retire at the age of 60, but in the changing age, people take retirement even at the age of 45 to 50 and live their lives with their deposits. If you also want a good and tension-free life, then you should make an investment habit at the age of 20 to 30 years.
Chance of getting returns up to 15%
On starting SIP in mutual funds, you can create up to 1 crore fund by the age of 45 or 50 years. In this, you can get returns of up to 12-15%. It is beneficial for long term investment. For this, you have to start investing at the age of 20-30 years.
How to make crores of funds
If you started SIP at the age of 25 and want to create a fund of 1 crore rupees by the age of 45, then you have to invest 11,000 rupees a month. That is, you have to save 367 rupees daily. If you get an average return of 12% over a period of 20 years, you will get a total of 1.09 crore rupees.
Age – 25 years
Retirement – 45 years
Investment Period – 20 years
Monthly investment – Rs 11,000
Estimated Return – 12%
Investment amount – Rs 26.4 lakh
Total Return – Rs 83.50 Lakh
Total amount – 1.09 crores
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