Lifestyle News
In today’s world, investing your money has become a necessity. Investing in mutual funds through SIP can offer good returns.
By saving a portion of your money every month for a few years, you can build substantial wealth.
By investing Rs 180 daily, which amounts to Rs 5400 per month, you can get returns of more than Rs 1 crore in 20 years.
In the long term, SIP can help you build immense wealth with the benefits of compounding interest.
If you invest Rs 180 daily, the total investment in one year would be Rs 65,700. Over a period of 20 years, total deposited amount would be Rs 13,14,000.
With an annual interest rate of 15 percent, the invested amount would grow to Rs 81,86,157 in 20 years.
With your yearly increment, if you increase the investment amount by 10% every year, then you will get even better returns. In 20 years, your returns would be more than Rs 1 crore.
10% Step-Up refers to increasing the total monthly investment amount by 10% each year. This strategy can help you build substantial funds for future.