Earning 15,000 a Month? SIP Can Help You Build Crore-Plus Wealth
Even those with a monthly income of just Rs 15,000 can become millionaires by investing in SIP. It's a great way to grow your wealth.
What is SIP?
SIP stands for Systematic Investment Plan. It's an easy way to invest in mutual funds, like a digital piggy bank. It's convenient for small investments and easy withdrawals. You can start with as little as Rs 100. SIP offers high returns for low-income earners.
Even with a low salary
Those earning Rs 15,000 often struggle with saving. However, even with this salary, you can quickly accumulate a lakh through SIP. We'll show you how to save and invest effectively.
Saving Rs 1000 a Month
If you earn Rs 15,000, aim to save Rs 1,000 monthly and invest it in SIP. You'll earn 12% interest on each Rs 1,000. In six years, you'll save a lakh. Saving Rs 2,000 monthly yields over two lakhs in six years.
How much profit?
Saving Rs 3,000 monthly could yield up to four lakhs. You get 12% interest on your savings. Saving Rs 1,000 monthly gives you Rs 1,06,000 in six years (72,000 principal + interest). Saving Rs 5,000 monthly could yield over five lakhs in six years (3,60,000 principal + interest).
Saving is Essential
SIP is a low-risk way to maximize returns with small savings. The longer you invest, the greater your profit due to the 12% interest. Even with a low salary, try saving Rs 1,000 to Rs 5,000 monthly in SIP for maximum benefit.
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