Crorepati Tips! Turn your Rs 100 into Rs 4.5 crore! Experts reveal top trick for you to benefit from
Crorepati Tips: If a person invests Rs 100 for 30 years keeping 10 per cent annual step-up rate, the maturity amount after the 30 years would be a whopping Rs 4,50,66,809!
Crorepati Tips: Becoming a crorepati through long-term investment is a basic need because, after 20 years or more, things like child marriage, child education and retirement funds, etc. have to be provided funds for. Sensing the rate of inflation, increasing consumer spending and the spike in medical bills for critical illnesses, people have started to invest for long-term keeping the crore figure in their mind. So, how to become a crorepati? Well, simple investments will not do, investors will have to use various tricks that can help them maximise their profit and help them become rich after getting the maturity amount credited in their bank account.
According to tax and investment experts, equity mutual funds are the best option for such investors who want their maturity amount in eight digits. According to them, if a person starts investing at the age of 30, even then they have near 30 years for investing. Batting for the equity mutual funds, experts are of the opinion that choosing SIP (Systematic Investment Plan) can do this. They say that if a person invests for 30 years in equity mutual funds through SIP, he or she can expect to get at least 15 per cent returns on their money. Kartik Jhaveri, Director — Wealth Management at Transcend Consultants says that in equity mutual funds, if a person invests for 30 years, he or she can expect at least 15 per cent or maybe 2-3 per cent more as the period chosen for investment will give the investor compounding benefits on one's interest also. However, he said that annual step-up rate should be at least 10 per cent as this much of increase in an individual's earnings can be expected.
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Assuming Kartik Jhaveri's returns of 15 per cent in equity mutual fund SIP, if a person invests Rs 3,000 or Rs 100 per day for 30 years keeping 10 per cent annual step-up rate, the maturity amount after the 30 years would be Rs 4,50,66,809. According to the mutual fund calculator, in this period of 30 years, the investor has invested Rs 59,17,512 while his wealth gain is Rs 3,91,49,297. So, becoming a crorepati with such a huge margin is possible provided the investor believes in the annual step-up trick suggested by the investment expert.