Every person in this world wants to be rich. People make small savings for future needs, but because of not knowing the right way to save and invest, they do not become rich. It can also be said that even after a certain amount of time they are not able to accumulate so much money that their big needs can be fulfilled. There are few places in the country where one can become a millionaire by investing. It has banks, post offices to stock markets and mutual funds.
Learn about investment plans in banks and post offices
Interest rates in banks and post offices also change from time to time, but it has come down to a very low level now. In such a situation, if someone starts investing now, then it can be expected that he can become a millionaire according to the fixed plan. Because the interest rates at these places are very low, it takes time for the investment to grow.
Plan to become a millionaire in a bank
According to CA Manish Gupta, banks are getting an average of 5 per cent interest on RD at this time. If you start investing 10 thousand rupees a month at this interest rate, then banks can make you a millionaire.
Make a plan to invest in a bank like this
Invest 10 thousand months invest in RD. The interest rate is 5 percent. Investment will have to be made for 30-35 years. A fund of 1 crore rupees will be prepared.
Plan to become a millionaire from the post office
One can also become a millionaire by investing in the post office. At the moment, 6.7 interest is being received on the recurring deposit (RD) of the post office. In such an investment of 10 thousand rupees can make you a millionaire from the bank soon.
This is how you plan to invest in post office
Invest 10 thousand rupees a month. Invest in RD of Post Office. 6.7% is getting maximum interest. Will have to invest for 29 years. A fund of 1 crore rupees will be prepared.
Millionaires can also be made with less investment and in less time
Generally people feel that investing for 30 years is a difficult task. Mutual funds and stock markets can be a good option for such people. Where you have to invest less money in a mutual fund, in a short time you can also become a millionaire. At the same time, investing in the stock market at one time can also make you a millionaire.
Mutual Fund SIP
Can you prepare 50 lakhs or 1 crore rupees by saving 20 rupees or 50 rupees daily. Yes, this is possible in MF’s Systematic Investment Plan. Not only this, it is possible with the strength of investment in SIP and the constant compounding of that money. If you start investing in the right plan by saving some of your daily tea water expenses, then it can make you a millionaire after a certain time. In this, better schemes of mutual funds can help you.
Saving 20 or 50 rupees a day will not put much financial pressure on you.
The best thing is that saving 20 or 50 rupees per day will not put much financial pressure on you and you can easily save so much even after all your expenses. After this, mutual funds will have to invest continuously through SIP. The advantage is that you can run it with other saving schemes, which can become a big help fund for you in the future.
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
