SIP Investment: Contribute Rs. 1000 monthly to this program to earn Rs. 1.6 crore when it matures
Mutual Fund SIP: To protect our retirement, the majority of us begin financial planning while we are still employed. if you do not plan for your post-retirement financial security. You could have to deal with a variety of financial issues in such a circumstance. Because of this, a lot of individuals save money in addition to their jobs, invest it in FDs, or put it into tiny savings accounts that they keep for a long time.
It is important to note that certain investment categories do not provide strong returns. In this series, we'll talk to you today about investing in mutual funds, where you may invest only Rs 1,000 a month to earn Rs 1.6 crore when the funds mature. Let's take a closer look at this investing math.
Let's say your age is twenty. Now is the moment to choose a reputable mutual fund plan and start a systematic investment plan (SIP) in it. You would need to contribute Rs 1,000 to the SIP each month after creating it.
This investment must be made for the whole 40 years. You should anticipate that throughout this time, your investment will provide an approximate annual return of 13 percent.
In this case, you will be 60 years old after 40 years of age. You will get around Rs 1.6 crore at that point in time when the investment matures. You may fully protect your financial future with the money you will get at maturity.
Disclaimer: There are market risks associated with money invested in mutual funds. Seek professional counsel before making this investment. if you make ignorant mutual fund investments. In this case, you could have to accept a significant loss. Market behavior determines the returns on investments made in mutual funds.
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