If you are thinking of doing financial planning for your child’s future, then start investing with a special formula. This formula can make your child a millionaire at the age of 21.
SIP Investment Scheme: Everyone worries about the future of their child. Everyone plans for it in their own way. But it is wise to start investing as soon as the child is born. Invest in a place where you can get good returns. In today’s time, SIP investment is the option that can give you returns that beat inflation.
Investment in mutual funds is done through SIP. Despite being a market linked scheme, this scheme can give you such good returns in the long run, which you will not get from any other scheme. Here know such a formula by adopting which you can make your child a millionaire at the age of just 21 years.
Know what this formula is
This formula is 21x10x12. According to this formula, you have to invest in mutual funds through SIP as soon as the child is born and this investment has to be continued for 21 years. 10 means 10,000 rupees, that is, you have to run a monthly SIP of Rs 10,000 in the name of the child and 12 means return. The average return of SIP is considered to be 12 percent.
The child will become a millionaire, you will earn ₹88,66,742 only from interest
If you apply this formula and start a monthly SIP of Rs 10,000 in the name of your child as soon as he is born and continue it for 21 years, then you will invest a total of Rs 25,20,000 in 21 years. If we calculate the average return of SIP at 12%, then in 21 years, you will get Rs 88,66,742 as interest on this amount.
In this way, after 21 years, you will get a total of Rs 1,13,86,742 by combining the invested amount and interest. In this way, at the age of 21, your child will be the owner of more than Rs 1 crore. With this money, all his future needs will be easily fulfilled and when he grows up, he will say thank you for this.
(Disclaimer: Investments in mutual funds are subject to market risks. Before investing, do your own research or consult your advisor.)
DISCLAIMER
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 informalnewz@gmail.com
