Crorepati Calculator: Your Rs 200 per day savings can become 4.21 crore! Here is how
Crorepati Calculator: Yes, it is true! Investing Rs 6,000 per month or Rs 200 per day in equity mutual fund SIP can give Rs 4.21 crore maturity amount.
Crorepati Calculator: The goal of investors goal is mainly to become rich at a faster rate. However, they also want to invest in such a way that it doesn't have much impact on their monthly expenditure either. To address such investment options, mutual funds SIP, especially equity funds are fast attracting the eyeballs of the Indian investors. In this SIP option, investments can be made in a monthly mode for the long-term as is possible with Public Provident Fund (PPF) or any other debt fund. Choosing SIP in equity mutual funds provides investors with the same investment pattern as a PPF, but the returns are much higher if the investment is for the long-term.
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Speaking on the benefits of SIP investment, Firoz Aziz, Deputy CEO at Anand Rathi Wealth Management said to the Zee Business program Money Guru, "Mutual Fund investors can choose the SIP route for investment as it gives them some breathing space in their monthly budget. Apart from that, those who are in the nascent phase of their career may not have a huge lump-sum amount for investment but in the long-term, they might look for a huge maturity amount, in terms of gains. For them, mutual fund SIP is a good option. In this option, if investors invest for the long-term, means near 30 years, they can easily expect around 15 per cent returns on investment."
Assuming the mutual fund SIP return to the tune of 15 per cent for a 30-year mutual fund SIP, this SIP (crorepati) calculator suggests that investors will get Rs 4.21 crore as maturity amount if the monthly SIP is Rs 6,000. Means, the equity mutual fund SIP has that much of power where Rs 200/day (6000/30 = 200) can become Rs 4.21 crore after 30 years if investment discipline is maintained and investment in the SIP continues for thirty years.
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