New Delhi. Nothing will be achieved by merely saving money today. It is also very important for you to invest your savings in the right way and at the right place. With the help of mutual fund SIP, you can create a fund worth lakhs from your daily savings. Just for this you will need some patience.
Your daily savings of just Rs 10 can make you a millionaire. Let us understand its calculation.
Every day -10 rupees
Every month – Rs 300 (here we have considered 30 days in a month)
In this way the investment amount will be Rs 300 every month.
Investment amount- Rs 300
If a person invests Rs 300 every month and wants to create a fund of Rs 1 lakh, then he will have to invest for 13 years at 12 percent return. This return may be more or less. You can get Rs 1,07,350 in these 13 years. In this way your only return can be Rs 60,550. With this your principal amount will be Rs 46,800.
Keep this in mind before investing in mutual funds
1. Expecting quick returns
Often investors consider SIP as a short term investment. But we also see its benefits in long term investment. It has been seen that if a fund does not give the expected returns in 6 or 1 year then it is considered worthless. Patience is most important in mutual fund SIP.
When there is a continuous decline in the stock market, then in such a situation fear sets in the minds of investors. But this is the best time for investment. You can buy more units of the fund at this time at the normal investment amount. Therefore, it is not right to withdraw money from SIP due to fear of market decline.
3. There will be real benefits on long term investment
You will get the benefit of mutual fund SIP only if you do it for a long time. By investing for a long time, you will get maximum benefit from compounding.
In mutual funds you get step up option. This is very beneficial. Through Step Up, you can increase the investment amount by a few percent every year. The more you invest, the more benefit you will get.
(Disclaimer: The information given here on mutual funds is not investment advice. Jagran Business is not giving investment advice. There can be risks in mutual funds, so please consult a certified investment advisor before investing.)
Chyawanprash is a part of every Indian's life, it reduces diseases and increases energy.