If you want, you can add lakhs of rupees in a few years even by saving a small amount every month. Know how even by saving just Rs 50 daily, you can add ₹ 52,94,871.
If your income is very low and you think that even if you save a small amount in the name of savings in this small income, what can be achieved from it, then change your thinking now. If you want, you can add lakhs of rupees in a few years even by saving small amounts every month and in this case SIP i.e. Systematic Investment Plan can prove to be very helpful for you. Investment is made in mutual funds through SIP. Any person can create a big corpus for himself through long term SIP. Know what you have to do for this.
By saving just ₹50 daily, you will add 52,94,871.
There is a huge benefit of compounding in long term SIP. If you save just Rs 50 daily, you will save Rs 1500 in a month. Start investing this savings in mutual funds every month through SIP and continue it for a long time. If you continue this investment for 30 years, you can add up to Rs 52,94,871.
Know how 52,94,871 will join
Suppose you invest Rs 1500 every month in mutual funds through SIP. In this case, you will invest a total of ₹ 5,40,000 in 30 years. SIP is market linked, hence returns are not guaranteed. But the average return in this is considered to be 12 percent. Sometimes 15 percent or better returns are also available.
But if we calculate according to 12 percent, then by investing Rs 1500 every month, the total investment will be Rs 5,40,000, the interest on it will be Rs 47,54,871 and in this way, by including the amount invested and the interest amount, you will get a total of Rs 52. You will get Rs 94,871. Whereas if you get 15% return on this investment, then by investing only Rs 1500 per month you can get Rs 1,05,14,731 through it.
