Even if your salary is low, you can become a millionaire, just follow this ‘simple trick’ and see the result after 15 years.

We all want to have so much money in our bank account that we don’t have to worry about our children’s education, marriage or our retirement. Rs 50 lakh is a huge amount, which is not easy for any working person to deposit in one go. But, what if I tell you that you can easily achieve this with small savings?

yes, it is possible SIP (Systematic Investment Plan) And compounding With the strength of. If you are aiming for 15 years, then equity mutual funds can turn your dream into reality.

Let us understand without any complicated mathematics how much money you will have to withdraw from your pocket every month.

Think beyond bank FD: Equity is the right path
Experts clearly say that if you are adding money for 10-15 years, then the bank’s FD (Fixed Deposit) or RD (RD) will not give returns that can beat inflation. Equity schemes of mutual funds have always given better returns in the long run. The reason is clear – here ‘Compounding Interest’ The magic of this works, that is, you get “interest on interest”.

Simple mathematics to make Rs 50 lakh (SIP Calculator)
Suppose you need Rs 50 lakh in your hand exactly 15 years from now. So how much SIP should you start today? It depends on how much return the market gives you.

1. If 12% return is given: If we assume an average return of 12% (which equity funds provide in the long run), then you will have to pay only Rs. Rs 10,008 Will have to invest.
2. If you get 10% return: If you are playing a little safe and assuming a 10% return, you will get Rs 12,063 Have to deposit.
3. If 9% returns: Even if the returns are low (9%), Rs 13,213 You will accumulate Rs 50 lakh from your monthly savings.

outcome: The more risk you take and invest in a good fund and the higher the return you get, the less the investment will lose from your pocket. At 12%, you will deposit a total of Rs 18 lakh from your pocket in 15 years, and the remaining Rs 32 lakh will be made up of ‘interest and profits’ only. This is called the magic of compounding!

What to do if you don’t have Rs 10,000 yet? (There is also Jugaad)
Many people will have a question in their mind that “My salary is low, how can I save Rs 10,000?” So the answer is-Step-up SIP,
You start with a small amount (like Rs 5000). Then as your salary increases every year, increase your SIP amount by 10%. If you keep doing this with discipline, then a fund much bigger than Rs 50 lakh will be created.

just remember 3 things
There is no shortcut to becoming a millionaire, just follow these 3 rules:

1. Get started early: Those who say ‘I will do it tomorrow’ are always left behind.
2. Discipline: Whether the market goes up or down, do not stop your SIP.
3. Patience: Money takes time to become a tree, give it time.