Everyone wants to become rich by earning money and most people also work for this. They work hard day and night, adding pie-pie and investing in every place. But even after all the hard work, their dreams are not fulfilled. Here we are sharing such an investment formula that you can fulfill your dream of becoming rich soon by adopting it.
The formula is because there is no shortcut to becoming a Crorepati. If some investments go through Systematic Investment method, then it is not so difficult to become rich.
How to become crorepati at young age:
We have to prepare the path to become rich from the beginning. We have to start investing from an early age. If you are 20 years old, then by saving 30 rupees every day, at the age of sixty you can become a rich man. Deposit of 30 rupees per day means Rs 900 in a month.
Invest this 900 rupees in SIP (Systematic Investment Plan) every month. If you do a SIP of only 900 rupees every month for 40 years, then this amount will be in crores.
– You save 30 rupees daily and 900 rupees a month.
– Invest these savings in mutual funds through SIP.
– In a year, this investment will be Rs 10,800.
– In 40 years, this investment will be Rs 4,32,000.
– Mutual funds get an average rate of 12.5 per cent.
– After 40 years, this amount can be very large with a return of 12.5 per cent.
How to become crorepati in 30 years:
If you are 30 years old, then to complete the target of Rs 1 crore, you will have to deposit Rs 95 daily instead of Rs 30. And you have to invest this continuously for 35 years.
If you invest in a mutual fund dividend reinvestment plan (DRIP) for 35 years, you will get 15% return rate.
Dividend reinvestment plan:
You can reinvest whatever dividend means you get dividend by investing in dividend reinvestment plan. In such a situation, the amount to be invested continuously increases and the returns also keep increasing. However, 2 to 6 percent dividend can be availed every year. It depends entirely on the type and stock of the mutual fund that the mutual fund holds.
If risk is more then profit is more:
Instead of Diversified Mutual Fund, you can also invest in small or midcap funds. They are less than 25-30 years, but if the risk is high, then the benefit is more.
RD is good option:
You can also become a millionaire by depositing RD of 5500 rupees every month. For this, first open RD account in the bank and deposit this amount every month. Now if you get 9 percent interest every year, then you will become a millionaire in just 30 years.