7 helpful tips to accumulate Rs 5 crore wealth through SIP
Right investment for retirement
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.
You can get Rs.5 crores with regular SIP
If a person regularly invests money in SIP, he can collect a fund of 5 crore rupees for himself in 30 years.
How much SIP to do to get Rs.5 crores?
If you start SIP of Rs.15 thousand every month from today, you can get Rs.5 crores in 30 years.
Compounding benefit is available in SIP
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.
Total amount after 30 years
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.
Rs 5.29 crore after 30 years with 12% interest
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.
Rs 35 lakhs in 10 years, Rs 1.5 crore in 20 years
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.