Power of Rs 3,000 SIP: How quickly can you generate Rs 60 lakh, Rs 90 lakh and Rs 1 crore corpus with just Rs 3,000 monthly investment?

A Systematic Investment Plan is beginner-friendly, and investing in an SIP is easy and accessible.  1. First, decide on your investment objectives Think about your risk tolerance and financial objectives. This will help you in selecting the appropriate kind and size of investment. 2. Select a Mutual Fund Plan Select a Mutual Fund based on your risk tolerance and goals. Before choosing, look at the reviews and past performance of the funds.

The power of compounding in SIP mutual funds is quite a valuable feature. Unlike simple interest, which calculates return solely on the principal amount, compounding involves reinvesting earnings, leading to exponential growth over time.

This is another advantage of SIP in which a person buys more units when the market is low and buys fewer units when the market is high.

Flexibility: SIP mutual fund allows investors to start, pause, increase or decrease their investments, aligning their strategies with evolving financial objectives and circumstances.  Disciplined investment: SIP promotes disciplined investing by requiring regular contributions of a fixed amount.

Target corpus: Rs 60 lakh, Rs 90 lakh, and Rs 1 crore Monthly investment: Rs 3,000 Annualised return: 12 per cent

It will take approximately 27 years to generate over Rs 60 lakh corpus.

The investment amount will be Rs 9,72,000, the capital gains will be Rs 55,14,939, and the estimated retirement corpus will be Rs 64,86,939. 

It will take approximately 30 years to generate over Rs 90 lakh corpus.

The investment amount will be Rs 10,80,000, the capital gains will be Rs 81,62,920, and the estimated retirement corpus will be Rs 92,42,920. 

It will take approximately 31 years to generate Rs 1 crore corpus.

The investment amount will be Rs 11,16,000, the capital gains will be Rs 92,74,369, and the estimated retirement corpus will be Rs 1,03,90,369.