You can earn Rs 2 crore in just this much time! Here is the rich investment, how-to strategy that you need
Earning big amounts of money and getting rich is what everyone is struggling to achieve. It can be done too and it does not require a long time either.
Earning big amounts of money and getting rich is what everyone is struggling to achieve. It can be done too and it does not require a long time either. Yes, you can earn millions and become a crorepati in a short period of time! Here is a strategy that you can adopt. Mutual Fund is an investment tool that helps investors achieve all kinds of financial goals, ranging from short-term, mid-term to long-term. But, to achieve all financial goals, the investor needs to diversify - he needs to put money in various options. So, it become important to keep variety in one's portfolio. This will keep your money safe too.
How to grow Rs 2 crore
Lucknow-based Ankit Singh (age 29 years) has started Rs 12,000 monthly Mutual Fund SIP in January 2020 and he has lump-sum investment of Rs 3.5 lakh in equities too. he wants Rs 2 crore after 20 years and he asked Financial Planner Kirtan Shah whether he should continue with his current fund or he would he need to switch to another one after 10 years.
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Kirtan Shah replied, "If the fund is delivering good returns, then there is no need to switch until there is change in management. One should keep an eye on the fund management, fund objective and fund performance. If all of these are as per your requirements, then there is no need to switch."
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Boost Your Crorepati Dream
On Ankit's objective of achieving a SIP maturity amount of Rs 2 crore after 20 years, Shah advised him to maintain an annual top-up of Rs 1,000 in his monthly SIP. This will make it possible for him to grow Rs 2 crore after 20 years.
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