SIP issued by mutual funds is an investment option that offers monthly, quarterly or half-yearly options. But this investment makes a fixed amount invested by interval of time. Today we are telling you the option of SIP investment, in which you can become a millionaire in a few years by investing 1000 rupees every month. However, this investment option may carry market risk.
According to a report in Mint, Sebi registered tax and investment expert Jitendra Solanki said that SIP is a good investment option, in which to keep the invested money for a long time. needed. Also annual SIP step-up should be used. This helps in keeping the monthly SIP amount of the investor low and also enhances the returns.
How to get Rs.
According to Jitendra Solanki, any person can invest 10 to 15 percent of his income. That is, if he starts investing with 1000 per month then he has to continue investing for 25 to 30 years with annual SIP increasing by 10-15%. At the same time, after investing in equity mutual funds for 25 to 30 years, there can be at least 15 percent annual return on investment.
On investment for 30 years
According to Vineet Khandare, CEO and Founder, MyFundBazaar India Pvt Ltd, one can expect a corpus of 63,55,414 at 15 per cent returns if one deposits monthly equity mutual fund SIP amount of Rs 1000 for a tenure of 30 years.
While a SIP step-up of 10 per cent per annum is used, mutual fund return calculators suggest that if the annual step-up is maintained at 10 per cent, a maturity amount of around Rs 1.27 crore would be achieved.
Also as per the SIP calculator, if one starts investing with a monthly SIP of 1,000 and uses a 15 per cent annual step-up for the entire investment tenure, in that case the 15 per cent annual return will yield around Rs 2.25 crore.