Mutual Fund SIP | Even those earning Rs 20,000 can become millionaires through SIP, understand the secret formula of 70:15:15.
Mutual Fund SIP Systematic Investment Plan is a powerful tool for investing in mutual funds. But not everyone will become a millionaire by raising money. Suppose your salary is Rs 20,000. Want to become a millionaire in the future? So what to do?
terms and conditions
There are certain terms and conditions that need to be followed. If you invest haphazardly, deviating from the rules, the chances of loss from SIP are higher than earnings.
Big fund will be ready
There are some simple ways of SIP investment by which you can become a millionaire even after depositing less money. There is a secret scheme, through which you can create a huge fund of up to Rs 1 crore through SIP. Let us know about it.
Earning of Rs 1 crore
The most important thing about SIP is that one does not have to have a huge salary to invest in it. Even if your salary is Rs 15,000 or Rs 20,000 per month, you can deposit Rs 1 crore by investing in SIP.
Deposit money into your account regularly
There is no need to rush into this. You have to be patient and keep depositing money in the account regularly for a long time. You can't expect to make big money unless you deposit money regularly.
What is the 70:15:15 secret formula of SIP? Mutual Fund SIP
To earn big from SIP, you can use the 70:15:15 secret formula. This secret plan depends on your monthly income. Suppose your salary is Rs 20,000. Then under the 70:15:15 secret formula, you should set aside 70% of this Rs 20,000 for household expenses.
15% amount
Out of Rs 20,000, you will set aside 70% i.e. Rs 14,000 for household expenses. After this you will have a balance of Rs 6000 as 30% of the amount. Now keep aside 15% of the remaining amount i.e. Rs 3000 for emergencies. Then you have 15% balance. 15% of the amount is Rs 3,000. Now you can invest this Rs 3000 in mutual funds of any company through SIP.
How to get from Rs 3000 to Rs 1 crore?
Now if you have decided to invest under the 70:15:15 formula of SIP, then let us tell you that you will have to deposit Rs 3000 every month in any mutual fund. You have to do this continuously for 30 years. Now if you deposit Rs 3,000 every month then you will be able to deposit Rs 36,000 in a year. You will deposit Rs 10,80,000 in the next 30 years.
Millionaire with low investment
Generally, by depositing money in SIP, the investor gets an annual return of 12%. Furthermore, there is the advantage of cyclical development. At the rate of 12%, you will get Rs 95,09,741 as return on your Rs 10 lakh 80 thousand for 30 years at the rate of 12%. Now your original amount will be Rs 10 lakh 80 thousand and Rs 95 lakh 9 thousand 741. That means you can become a millionaire by investing less.
Disclaimer : Investing in mutual funds and stock market is based on risk. Before investing in the stock market, definitely consult your financial advisor. tezzbuzz.com will not be responsible for any financial loss.
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