Want to create Rs 6 crore, Rs 8 crore, or Rs 10 crore retirement corpus? Know how much monthly SIP investment you need to achieve that target
SIP stands for a systematic investment plan. It allows investors to invest a small amount at regular intervals. SIPs make you a disciplined investor as you invest a certain monthly amount. You can also choose weekly, quarterly, and yearly options. Mutual funds offer SIPs and can be a good option if investors want to take risks to grow their principal amount.
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SIP investment
SIP is a method of investing in a mutual fund through which you can build a corpus over time.
Start an SIP as soon 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 fluctuations. The sooner you start SIP, the sooner you'll achieve your financial goal.
Long-term benefits
Average costing and compounding interest can provide investors with long-term benefits.
What is compounding interest?
The interest received on the principal amount is reinvested, potentially yielding bigger returns.
SIP investment to achieve over Rs 6 crore corpus in 37 years
If you start investing Rs 7,300 every month from 23 years of age till 60 then you can achieve your goal. You can accumulate more than Rs 6 crore in 37 years if you get an expected return of 12 per cent per annum.
Calculations of accumulating Rs 6.5 crore
Total investment: Rs 32,41,200
Expected returns: Rs 5,71,62,733
Total amount on maturity: Rs 6,04,03,933
SIP investment to achieve over Rs 8 crore corpus in 37 years
If you start investing Rs 9,700 every month from 23 years of age till 60 then you can achieve your goal. You can accumulate Rs 8 crore in 37 years if you get an expected return of 12 per cent per annum.
Calculations of accumulating Rs 8 crore
Total investment: Rs 43,06,800
Expected returns: Rs 7,59,55,960
Total amount on maturity: Rs 8,02,62,760
SIP investment to achieve Rs 10 crore corpus in 37 years
If you start investing Rs 12,100 every month from 23 years of age till 60 then you can achieve your goal. You can accumulate Rs 10 crore in 37 years if you get an expected return of 12 per cent per annum.
Calculations of accumulating Rs 10 crore
Total investment: Rs 53,72,400
Expected returns: Rs 9,47,49,188
Total amount on maturity: Rs 10,01,21,588
Investing in mutual funds is subject to market risks. Consult your advisor before making any investment.