Best Investment SIP: Who does not want to become a millionaire, but by following a simple formula, you can become a millionaire by saving only 10 rupees daily. You might not believe this, but it can happen. You can become a millionaire by saving only 10 rupees daily. For this you have to follow a formula. After adopting this formula, no one can stop you from becoming a millionaire. So let’s tell how to become a millionaire by saving 10 rupees.
By saving 10 rupees daily, you will become a millionaire in this day
If you save Rs 10 a day, it becomes Rs 300 in a month. SIP it in a mutual fund. If you do a SIP of Rs 300 every month for 35 years and get 18% return on it, then after 35 years you will get a total return of Rs 1.1 crore.
What is SIP
Nowadays everyone has heard the name of Mutual Fund and everyone knows about SIP. But people do not invest in it due to lack of proper information. Whereas SIP is the easiest way to invest in Mutual Funds. Through this, you can invest in mutual funds every month. SIP is exactly like bank RD but here you get better returns than bank. Every month a fixed amount is deducted from your bank account and invested in SIP.
Can do daily SIP
If you want to save day by day then you can do SIP on daily basis. This can be beneficial for those who are businessmen or engaged in a profession where there is daily income. The returns you get in a daily SIP depend on the fund management and the type of funds they invest your money in. Returns in large cap funds remain the same, so investing in this fund is safe.
Weekly and Monthly SIP
In comparison to Daily SIP, the installment of investment in Weekly SIP is deducted from your bank account 4 times a month. You invest a small amount. This reduces market risk. When the market is down, more units come in through weekly SIPs. Monthly SIP is the best option for small investors and salaried individuals. It is very easy to manage it. Through this if investment can be made for a long time.
