'Kaun banega crorepati': Monthly SIP you need to accumulate ₹10 crore when you turn 60 years
'Kaun banega crorepati' with Mutual Fund SIP: An investor can become a crorepati sooner if he starts investing early in his life, and the amount he needs to save will also be less. But if you keep dilly-dallying your investment plan, you will have to shell more from your pocket. So, how much SIP do you need to make in order to have a corpus of ₹10 crore by the time you're 60 years old?
As per the data from MFI, FundsIndia Research report, if you start investing via SIP at the age of 25, the monthly SIP required is only ₹15,000. But if you delay and start at the age of 30 the monthly SIP required is 2 times more at ₹28,000! If you delay and start at the age of 40 the monthly SIP required is 6 times more at ₹1,00,000! this calculation is based on the assumption that investment grows at a pace of 12% annually, the report said.
Long-term mutual fund investments have the ability to produce returns that outperform inflation, and other advantages like the magic of compounding.
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«For a 30-year-old investor seeking a target of ₹10 crore by age 60, an SIP of ₹35,000 should help achieve such a target. This assumes that the investment grows at a pace of 12% annually. However, for an investor delaying such an investment by a decade, the monthly contribution required to achieve a similar target goes up by over 3x to a monthly SIP commitment of ₹1.2 lakh» said Nirav Karkera, Head of Research, Fisdom.
Equity mutual funds witnessed an inflow of ₹20,245 crore in August, according to the data from the Association of Mutual Funds in India (AMFI) released on Wednesday.
Despite the decline,
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