You can fulfill the dream of becoming a millionaire through the Systematic Investment Plan (SIP). This will reduce the risk on your investment and will also provide excellent returns, because money is invested in mutual funds through SIP.
If you want to become a millionaire, but your earnings are less then nothing to worry about. You can become a millionaire by just investing 50 rupees every day without waiting for earning. Yes, you can fulfill your dream of becoming a millionaire through the Systematic Investment Plan (SIP). This will reduce the risk on your investment and will also provide excellent returns, because money is invested in mutual funds through SIP. Early investment through SIP would yield higher returns, as compound interest is available on it.
SIP motivates disciplined investment. Deposit of some amount every month does not affect your budget. With the passage of time a large amount is collected. Investing through SIP can handle your investment equally well in times of market downturn like the market boom. The cost of purchasing units of mutual funds is averaged when invested by SIP. Due to this, the risk on investment is reduced.
Daily investment of 50 rupees will become 1.04 crores
If you invest only 50 rupees every day in SIP, then your investment will increase to Rs 1.04 crore in 30 years at an estimated return of 15 percent. In this, you deposit only 5.40 lakh rupees in 30 years and you get a return of 94,60,004.
How to invest
Investments can be made online or offline in mutual funds. You can open an online account on the website of any mutual fund houses. Apart from this, you can start the SIP by filling the form through DSA of the company. All expenses incurred in mutual fund scheme are called expense ratio. From the expense ratio, you get to know what is the cost per unit in the management of a mutual fund. Generally the expense ratio is 1.5-2.5 percent of the average of the weekly net asset of a mutual fund scheme.
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