At 35, you want to create Rs 5 crore corpus by 60? Know how much monthly SIP investment you need to achieve that
Compound Growth Benefits in SIP: Investing in mutual fund SIPs can be a better idea as it makes you a disciplined investor and you don't need to care about market fluctuation. The sooner you start SIP, the sooner you'll achieve your financial goal.
In SIP (systematic investment plan), you can start investing at any age. The investment amount can be as little as Rs 100. However, to achieve a particular financial goal, you need to calculate the monthly SIP amount accordingly.
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Start an SIP as early as possible
Investing in mutual fund SIPs can be a better idea as it makes you a disciplined investor and you don't need to care about market fluctuation. The sooner you start SIP, the sooner you'll achieve your financial goal.
What is SIP?
SIP is a method of investing in a mutual fund through which you can build a corpus over time.
Long-term benefits
Average costing and compound growth can provide investors with long-term benefits.
What is compound interest?
The interest received on the principal amount is reinvested, potentially yielding bigger returns.
SIP investment to achieve Rs 5 crore corpus in 25 years
If you start investing Rs 26,500 every month from 35 years of age till 60 then you can achieve your goal. You can accumulate Rs 5 crore in just 25 years if you get an expected return of 12 per cent per annum.
Calculations of accumulating Rs 5 crore
Total investment: Rs 79,05,000
Expected returns: Rs 4,20,97,685
Total amount on maturity: Rs 5,00,02,685
SIP investment to achieve Rs 5 crore corpus in 30 years
If you start investing Rs 14,200 every month from 30 years of age till 60 then you can achieve your goal. You can accumulate Rs 5 crore in just 30 years if you get an expected return of 12 per cent per annum.
Calculations of accumulating Rs 5 crore
Total investment: Rs 51,12,000
Expected returns: Rs 4,50,12,776
Total amount on maturity: Rs 5,01,24,776
SIP investment to achieve Rs 5 crore corpus in 35 years
If you start investing Rs 7,700 every month from 25 years of age till 60 then you can achieve your goal. You can accumulate Rs 5 crore in just 35 years if you get an expected return of 12 per cent per annum.
Calculations of accumulating Rs 5 crore
Total investment: Rs 32,34,000
Expected returns: Rs 4,67,79,572
Total amount on maturity: Rs 5,00,13,572
Investing in mutual funds is subject to market risks. Consult your advisor before making any investment.