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The easiest way to become a millionaire, save only 50 rupees daily

Mutual Fund: Everyone dreams of becoming a millionaire. However, many people are not able to achieve this goal due to low income. But investing in mutual funds through SIP can make you a millionaire. To become a millionaire, you have to save only Rs 50 per day. Mutual Fund SIP (Systematic Investment Plan) is a great option if you want to build a large corpus through small monthly investments. This scheme is especially beneficial for the long term. Those people who start their investment from the age of 25 can avail a lot of benefits through this scheme.

25 On starting investment from the age of

  • If you are saving Rs 50 a day from the age of 25 and investing it through SIP in mutual funds, then at the age of 60 you will easily become a millionaire.

This is how you will become a millionaire

  • Mutual funds give an average return of 12-15 per cent.
  • Saving Rs 50 every day means you will save Rs 1500 in a month.
  • Accordingly, you invested a total of Rs 6.3 lakh in 35 years.
  • In this, after getting a return of 12.5 percent, its value will be Rs 1.1 crore.

30 On investing at the age of

  • If you start investing at the age of 30, then you will be able to invest only 30 years till 60 years.
  • At Rs 1500 per month, the total investment over a period of 30 years will be Rs 5.4 lakh. Its total value will be Rs 59.2 lakh.
  • There is a loss of about 40 lakh rupees due to reduction of investment period of just 5 years.

(Investment advice in any fund is not being given by ABP News here. The information given here is for informational purposes only. Mutual fund investments are subject to market risk, read all scheme documents carefully. NAV can fluctuate depending on the factors and forces influencing the security market including interest rate fluctuations.The past performance of a mutual fund may not necessarily reflect the future performance of the schemes. The mutual fund does not guarantee or guarantee any dividend under any of the schemes and is subject to the availability and adequacy of distributable surplus. Investors are advised to review the prospectus carefully and seek specific legal, tax and scheme You are requested to seek expert professional advice regarding the financial implications of investing/participating in

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who hails from Uttarakhand. Shivam is a professional full time Digital Marketing and PR expert with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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