The journey from Rs 100 to a millionaire, this is the miracle of mutual funds, investors are becoming rich!
highlights
A millionaire can make regular investments in mutual funds.
Select mutual funds with 12-13 percent annual returns.
Mutual funds are one of the safest ways to get good returns.
New Delhi. The saying ‘Every drop makes an ocean’ fits perfectly with Mutual Fund SIP. If even a small amount of money is invested in SIP regularly, it turns into a huge amount in the long run. People’s inclination towards mutual funds is also increasing. However, with the increasing popularity of SIP, many new mutual funds are also coming into the market. In such a situation, the big question arises that which mutual fund should you choose which can give you good returns.
Today we will tell you how you can earn Rs 1 crore through mutual funds and which mutual fund you will have to choose for this. So let us know how and what you have to do.
Also read- What is the difference between nominee and heir, who will be the real owner of the property after the death of the owner, this is the answer?
Which mutual fund to choose
You should not choose just any mutual fund. Before selecting a fund, you should check its past returns. You should choose such a mutual fund in which you get returns of at least 12 percent every year. You will have to invest Rs 100 every day in such mutual funds. In this way your monthly investment will be Rs 3000. You will have to make this investment for 30 years. If you do this regularly then no one can stop you from becoming a millionaire.
Grow SIP Calculator.
How to become a millionaire
If you are depositing Rs 3000 every month and you are getting 12 percent return on that deposit every year, then the amount deposited by you and the interest received on it will together amount to more than Rs 1 crore. There must be a question in your mind that how will this happen? If you deposit Rs 3000 every month for 30 years, this amount becomes Rs 10,80,000. If you are getting an estimated return of 12 percent on this, then your interest is Rs 95,09,741. Now your invested amount and returns together will be Rs 1,05,89,741. On the other hand, if your mutual fund is giving an annual return of 13%, then you can become a millionaire in only 28 years.
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Tags: earn money, Investment and return, investment tips, mutual funds
FIRST PUBLISHED : September 10, 2023, 12:07 PM