Investment Plan: If you are saving money for your child’s future, then by investing just Rs 5000 per month you can deposit an amount of up to Rs 55 lakh. However, you will have to do a top-up of 5 to 10 percent.
Investment Plan: Nowadays everyone wants to become rich as soon as possible. But due to not being able to make proper plans, they miss out on accumulating maximum funds. However, there are some ways through which you can accumulate more than Rs 51 lakh in a few years without any hassle. Especially when you are planning for your daughter’s marriage or your child’s education and future.
Mutual Fund SIP (Systemetic Investment Plan) is one such way through which you can accumulate maximum amount. This is a great way to beat inflation. If you are collecting money for your child’s future, then by investing only Rs 5000 every month, you can accumulate an amount of up to Rs 55 lakh. However, you will have to top-up 5 to 10 percent in between.
If you start a SIP of ₹5000 and top up 5 percent extra in it every year, then you will get a big benefit. This is a facility that can give you huge profits in a short time with less investment. Suppose you start a SIP of Rs 5000 and top up it with 5 percent every year, then your amount will keep increasing year after year. However, in the first year, you will have to deposit only five thousand rupees.
How to deposit more than 51 lakhs
In the first year, 60 thousand rupees will be invested. In the second year, after a top-up of 250 rupees every month, you will have to invest 5000 rupees, i.e. you will have to do a monthly SIP of 5,250. In this way, 1.23 lakh rupees will be deposited in the second year. Similarly, a top-up of 5 percent will have to be added to your SIP every year.
Regular investment will have to be made for 18 years
If you deposit a SIP of 5000 every month with a 5 percent top-up for 18 years, then a total of 16.87 lakh rupees will be deposited. Now assume the average return on SIP in the long term to be 12 percent. In this way, at the rate of 12 percent, 34.50 lakh rupees will be received from interest alone. After 18 years, you will get 51.45 lakh rupees.
(Note- While planning any kind of investment, please consult your market expert.)
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