Nothing can stop you from becoming a millionaire if the money is invested properly.
Let us know how you can create a fund of one crore rupees by saving only 100 rupees every day.
The best option to make Rs 1 crore is investing in SIP. The formula to accumulate a fund of Rs 1 crore is quite simple.
If you save Rs 100 every day, you will save Rs 3,000 in a month, which is a good amount to invest in SIP.
If you invest this Rs 3,000 in mutual funds through SIP for 21 years and you get a 20% annual return, then...
In 21 years, your fund will be around Rs 1,16,05,388 while during this time you will invest only Rs 7,56,000.
On the other hand, if for some reason you get a return of 15% instead of 20%, you will still get around Rs 53 lakh.
Mutual funds have given bumper returns to investors in the long term. Some funds have given returns of up to 20%.
Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
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