SIP Calculator: Children’s education expenses can become a burden on the pocket. Due to rising inflation, you can invest in SIP to meet your needs. Know here how you can prepare a fund of Rs 22 lakh by saving Rs 150 daily. Let us know about it in detail.
Middle class families often have to plan to save money before spending it. At the same time, the expense of children’s education can leave a hole in the pocket. However, do you know that you can create a good fund through long term investment. Believe me, by saving small amounts and investing them, huge amounts can be accumulated. If your child’s age is 3 years in the year 2024, then you can get a maturity fund of Rs 22 lakh by the time he turns 18 i.e. by 2042. For this you will have to follow the SIP plan mentioned below. You can use this for children’s education and higher education.
Know what is SIP investment?
Systematic investment plan is called SIP. Through this one can invest in mutual funds. Generally there is a fear of losing money in the stock market. If you want to stay away from risk and do not want to invest directly in the stock market, then SIP investment can prove to be powerful for you. This is affected by market fluctuations. For this reason, experts believe that long term investment in SIP can save your investment amount from loss. Actually, in SIP a fixed amount has to be invested in a fixed time period.
SIP Calculator: Make Rs 22 lakh from Rs 150!
In this SIP plan you will have to invest Rs 150 daily. That means you will invest ₹ 4,500 in a month and ₹ 54,000 in a year. Keep in mind, you have to make this investment for 15 years i.e. you will invest a total of Rs 8,10,000 in SIP.
Generally, long term investment in SIP can give an annual return of 12%. Suppose you also get a return of 12%. According to this calculation, you will get only interest of ₹ 14,60,592 in 15 years. At the same time, when SIP matures, you will get the investment amount (₹ 8,10,000) and interest amount (₹ 14,60,592) together. This total will be Rs 22,70,592.
Keep in mind that before investing, definitely consult a financial advisor. Taking help can improve your SIP returns.
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