If you spend your entire salary and you can not save it then it is a dangerous sign for you and your family. Because of this, you and your family have to face big trouble in the future. Today we are telling you a way that you can save and make a fund of Rs 3.5 crore in the long run.
Link Systematic Investment Plan to Bank Account
If your salary is Rs 50000 then you can start the systematic investment plan i.e. SIP account and start investing Rs 5000. If you think that you will not be able to save, then you should link your SIP account to your bank account. SIP amount will be transferred to your SIP account from your bank saving account from the beginning of the salary. At the beginning, you will remain alert when money is withdrawn from your account and you will try to spend your month’s expense with available money. It may be that you have to face some difficulty. But in the long run, this plan can give you great results.
Will become fund of 5 crore
If you start investing Rs 5000 in SIP and keep investing in SIP 10% every year. If you get an annual return of 15% on your investment, then in 30 years your SIP account will be worth 3.5 crore rupees.
Equity mutual fund is the best option for long-term investment
As an investment option, equity funds have given better results than other options in the long term. However, if you invest in it, you have to be ready to take up the risk associated with the market. However, you can face this risk by planning for a longer period. You can invest in mutual funds through systematic investment planning (SIP).