It is everyone’s dream to become a millionaire. People also save some money by working hard for this, but due to the wrong investment strategy, people miss their goals or if they say they are not able to fulfill the dream of becoming a millionaire. Today we are going to tell you such an investment strategy, with the help of which you will be able to easily accomplish your career goal and save big.
Start investing early: It is considered very important to start investing early, the sooner you start your investment, the sooner you will be able to achieve your goals easily. The importance of investing early, you can understand from the fact that the world’s biggest investor, Warren Buffett, started his investment from the age of 11 and he is today the biggest investor in the world.
Regular Investment: Consistent regular investment is also the most important quality of a successful investor. Regular investment can be of any kind like RD, various schemes of post office or SIP in mutual funds. Experts believe that if you do SIP in mutual funds, then in the long term you can get much higher returns than bank FDs and RDs, although it depends on the market volatility.
Follow the 15×15×15 Formula: If you want to invest in mutual funds through SIP, then this formula can be very difficult for you. Historically, any mutual fund gives an average return of 15 per cent in a year. If an investor deposits Rs 15,000 every month for 15 years, then at an average return of 15%, his corpus will be more than Rs 1 crore.
Saving from Salary: A large number of people think that one can become rich only by doing big business, but that is only a lie. You can easily make huge savings by adopting investment methods. The 50-30-20 formula of savings is considered to be the most effective for salaried earners. This formula means that you spend 50 percent of your salary on your needs. Apart from this, spend 30 percent to fulfill your wishes and you should save the remaining 20 percent regularly.