How to save Rs 1 crore with a monthly salary of Rs 50,000

economictimes.indiatimes.com:

Equity mutual funds could be your trusted friend when it comes to saving for the long term. Even if you invest a small amount of money regularly, you will be able to save a huge corpus in the long run. All credit goes to the compounding factor. There are several mutual funds available in the market. Returns from equity mutual are usually higher than debt or hybrid mutual funds. Though equity investments are often termed riskier than other categories, it is the only instrument that offers inflation-beating returns in the long term.
To accumulate a lump sum amount of Rs 1 crore, you can start with a systematic investment plan (SIP) in equity mutual funds. How does mutual fund SIP work? You invest an amount in mutual fund SIP regularly, say every month or every quarter. With time, your small investment grows into a large corpus, all thanks to compounding and rupee-cost averaging. It is important to maintain financial discipline if you want the best return from your mutual fund. Let's see how much you need to invest to get Rs 1 crore from a mutual fund.

Earn Rs 50,000 in a month? How much should you invest to save Rs 1 crore

Even if Rs 50,000 is not a huge amount, you have to put aside some parts to achieve your long-term goals. If you can invest 15-20% of your salary every month, you can achieve your dream goal of Rs 1 crore within a reasonable period. Keep in mind that when you invest a small amount, it will take a longer time to achieve your goal. When you invest more, the tenure to reach the goal will become