Large savings can be made in the long term by investing in SIP.
Up to Rs 10 lakh can also be earned from saving Rs 50 daily. Because of this, there will not be any financial burden on you.
- Last Updated:
December 31, 2019, 6:14 AM IST
- Edited by: Puja menon
Mutual funds are considered to be the best option for getting better returns despite less investment in long term. The best thing in this is that saving Rs 50 per day will not put too much financial pressure on you and you can easily save so much even after all your expenses. Let's know how you can make a fund of 10 lakh rupees by saving 50 rupees daily?
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This is how you can make owners of 10 lakh rupeesIf you save Rs 50 daily, then it will be Rs 1,500 a month. You have to invest 1,500 rupees every month through SIP in the scheme of Mutual Fund. You will have to invest this for 15 years. There are many mutual funds in the market, who have given 15% per annum returns in the last 15 years. If you continue to get such a return, then after 15 years, you will have a fund of 10 lakh rupees.
How will you benefit
If you invest for 15 years in a mutual fund scheme, your total investment will be Rs 2,70,000. At the same time, the total value of your SIP will be Rs 10,02,760. That is, you will get the benefit of Rs 7,32,760.
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This can remove the expense ratio
It is the ratio that describes the expenditure on management (management) of mutual funds as per unit. To derive the expense ratio of a mutual fund, its total assets (asset under management i.e. AUM) is divided by the total expenditure.
Invest via SIP
SIP is the best way to invest in mutual funds. Through this, the investment gets a good average, which reduces the risk of investment and increases the chances of good returns. After starting an SIP in a mutual fund, it is not necessary that you invest only till the scheduled time. You can stop this investment whenever you want. There is no penalty for doing this.
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First published: December 31, 2019, 6:14 AM IST
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