Investment Tips Everyone wants to become a millionaire but when it comes to patience, everyone loses. Would you believe that you can become a millionaire by investing only Rs 7474 every month?
Today we will tell you in which scheme you can invest to fulfill your dream of becoming a millionaire. Read the full news…
We must have said at some point that we wish we had crores of rupees. Every common man dreams of becoming a millionaire. For this, they also invest, but after some time they lose patience. The whole game of investment is about patience.
Just like one or two runs help a batsman to score a century, investment also helps us to become a millionaire. Currently, there are many investment options available. But today we will tell you about the scheme to become a millionaire.
Also Read: PF Death Claim: Who gets the money deposited in the account after the death of the PF account holder?
SIP is a very good option
You can become a millionaire every month through Systematic Investment Plan ( SIP ) of Mutual Fund. This scheme is especially good for those investors who get monthly salary. You have to invest a part of your savings every month in SIP.
If you feel that Rs 7,500 is too much, then you can invest just Rs 5,000. You have to increase the investment amount by Rs 2,500 every 5 years and you will become a millionaire in just 20 years.
Understand it like this, if you invested Rs 5,000 every month in the first 5 years and increased the investment amount by Rs 2,500 after every 5 years, then in the final years of investment, you will invest a total of Rs 12,500 every month.
Now you will get at least 10 percent return in SIP. Now after the initial five years only you will be able to see that you will get very good returns and you will get good returns in the last year of investment.
