Nowadays everyone wants to get good returns in less time by investing in small savings schemes. Investors have to think many times before investing in mutual funds, but the investment made here can give you huge profits and you can also become a millionaire by depositing a hefty amount of one crore. Building a corpus of Rs 1 crore is not easy, but it is easy to do if the investments are made with proper planning. At the same time, through this article, we will tell you how and in how much time you will be able to deposit such a huge amount.
Get Started
For this, you have to start with a small savings of only Rs 1,000 a month. Think of it as if you get 10% return in a mutual fund scheme, then every year you will have to increase the investment amount by 15%. In this way, in 30 years, you will have a wonderful fund of about Rs 1.30 crore. Increasing the investment by 15% every year means that if you start investing with Rs.1000 in the first year, then from the next year you will have to invest Rs.1150 every month. In this way, the investment will have to be continued by increasing it by 15% in the next year as well.
On the other hand, if you get an annual return of 12% in a mutual fund scheme, then you will only have to increase the investment by 12% annually. In this way, by depositing small amounts at the right age, you will be able to create a huge corpus till your retirement.
Benefits in the long run
This type of investment plan is very beneficial for children or for your retirement. In the coming time, this small amount gives you a big profit and you will not have to worry about your future financial needs.
