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To avoid shortage of money in old age, everyone should invest while in the job. To get more money by the time of retirement, it is important to invest in the right place.
If a person regularly invests money in SIP, he can collect a fund of 5 crore rupees for himself in 30 years.
If you start SIP of Rs.15 thousand every month from today, you can get Rs.5 crores in 30 years.
SIPs offer the advantage of compounding through regular investments. With interest rates exceeding 15%, even at a minimum of 12% long-term returns are promising.
In this way, if a person invests 15000 rupees every month in a good SIP for 30 years, his total amount will be Rs.54 lakhs.
Considering a return of 12% on this, after 30 years, you will get Rs 4,75,48,707 along with compound interest. Including the principal, your total amount will be Rs 5,29,48,707.
According to this formula, if you do SIP, you will get Rs 35 lakhs after 10 years, about Rs 1.5 crore after 20 years and Rs 5.29 crore after 30 years.