If you also want to save some part of your earnings for your future, then mutual funds can be a great option for you. Because it does not have as much risk as the stock market, and the returns are also good. There are two ways to invest in mutual funds: one is SIP, and the other is lump sum. In this news, we are going to tell you about a plan to invest through SIP, which will make you the owner of 5 crores by investing just Rs 167 daily.
What is the plan?
SIP can be a great option for all those new investors. Those who want to save their money. We will tell you how, by investing 167 rupees daily and 5000 thousand rupees a month, you will become the owner of 5 crores, and what is the calculation of this plan?
How will the plan work?
Suppose you are doing an SIP of Rs 5000 a month in a mutual fund for 25 years at Rs 167 per day and doing a step of 15% annually. If you are increasing your investment amount by 15%, then your total investment in 25 years will be Rs 1,27,67,581, and if you are getting a 15% return on it, then it will be Rs 3,94,47,362. Both investment and returns should be added to this. That will become around 5.22 crores, and you will be the owner of more than 5 crores in 25 years.
What is SIP?
The full name of SIP is Systematic Investment Plan. It is a way of investing in mutual funds. Through this, you can invest an amount in your favorite mutual fund according to month, daily, weekly, and quarterly. SIP increases returns through compounding, and you can understand your investment and return process using a mutual fund calculator.