You might be a graduate starting out with an initial salary of Rs 20,000 per month but that shouldn't stop you from achieving your financial goals. Systematic Investment Plans (SIPs), by investing in mutual funds, are designed just for that. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

All you need is focused and displined investment schedule and let the power of compounding do the job. This is where mutual funds and an SIP comes in the picture. 

Moreover, your salary is only going to increase every year so you can achieve your goal to reach Rs 1 crore faster if you keep on increasing your investments into SIPs each year in proportion to the increase in your pay. 

This is how: 

The general rule of investing is that when you start young, try and invest half of your salary in various intruments available. 

In this case, an SIP. 

Investing Rs 10,000 a month for a period of 10 years would make your principal investment at Rs 12 lakh but at an expected 15% annual returns in an equity SIP, the expected amount will reach nearly Rs 28 lakh! 

here.

Disclaimer: This story is for informational purposes only and should not be taken as an investment advice.