Investment Tips: With planning, you can earn a huge amount by investing a fixed amount every month. You can invest regularly in mutual funds through SIP to make a huge amount. Equity mutual funds are a good place to put your money if you want to become a millionaire in 15 years. We are telling you how much you should invest every month and how you can easily deposit Rs 1 crore 26 lakh after 15 years for your future needs.
How much will have to be invested in 1.26 crores?
If you want Rs 1.26 crore in your account then you have to invest Rs 25,000 every month for the next 15 years. This is anticipated to yield a return of 12%. You can easily deposit Rs 1,26,14,400 in this scenario after 15 years. You will invest Rs. 45 lakh and receive a return of Rs. 81,14,400 after 15 years. You can easily amass 1.26 crores in this method.
Which fund to invest in
Among the equity mutual fund category, small and mid-caps have given the highest returns over the long term. According to a report, this fund category has given an annualized return (CAGR) of 15.05 percent in the last 10 years. In the last 5 years, this fund category has given an even higher ie 22.47 percent annualized return (CAGR). Comparing this return to large cap and diversified mutual funds reveals that it is relatively high. For your initial investments, you can pick one or two small- and mid-cap mutual funds. For calculation purposes, we assume that your mutual fund will deliver 15 percent annualized returns over the long term.
How to choose the right SIP for you
According to experts, you should keep 4 things in mind while choosing a SIP. First, how long has the company managed the fund been in business in India? Second, always invest in funds larger than 1000 crores, regardless of the fund size. Third, the returns the fund has given over the years, and fourth, the age and performance of the fund’s manager. If there is a change in the manager of the fund, is there any impact on the fund’s returns?
Discipline in investing
Being disciplined when it comes to investing is one of the main advantages of using a SIP. Your bank account sends a predetermined amount each month to the mutual fund company. You won’t ever go over your budget if you create a SIP. You are aware that a specific sum will be taken out of your account each month on the due date and given to the mutual fund provider. In this way, investing discipline is upheld.
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