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Investment Plan: Nowadays everyone wants to become rich as soon as possible. But due to lack of proper planning, they miss out on collecting maximum funds. However, there are some ways through which you can accumulate more than Rs 51 lakh in a few years without any hassle. Especially when you are planning for your daughter's marriage or your child's education and future.
Mutual Fund SIP (Systematic Investment Plan) is a way through which you can save as much money as possible. This is a great way to beat inflation. If you are saving money for your child's future, then by investing just Rs 5000 every month, you can save up to Rs 55 lakh. However, you will have to top-up 5 to 10 percent in between.
If you start a SIP of Rs 5000 and invest 5% more in it every year, you will get a big benefit. This is a facility that can give you a big profit in a short time with less investment. Suppose you start a SIP of Rs 5000 and invest 5% more in it every year, then your amount will keep increasing year after year. However, in the first year you will have to deposit only five thousand rupees.
how to deposit more than 51 lakh
In the first year, you will have to invest 60 thousand rupees. In the second year, after a top-up of 250 rupees every month, you will have to invest 5000 rupees, i.e. you will have to do a monthly SIP of 5,250. In this way, 1.23 lakh rupees will be deposited in the second year. Similarly, you will have to add a top-up of 5 percent to your SIP every year.
Regular investment will have to be made for 18 years
If you deposit Rs 5000 every month in SIP with 5% top-up for 18 years, then a total of Rs 16.87 lakh will be deposited. Now assume that the average return on SIP in the long term is 12%. In this way, at the rate of 12%, you will get Rs 34.50 lakh from interest alone. After 18 years, you will get Rs 51.45 lakh.