highlights
Deposit money in SIP at a regular interval.
In this you get market based returns which keeps changing.
Generally mutual funds give returns of 12-15 percent.
New Delhi, If you start financial planning for your daughter or son as soon as they are born, then they will never have to face financial problems in future. Your child can become a millionaire at the age of 21 and this money can be used for her higher education, starting her own business or even for marriage. In this you just have to do a small work every month. It is like planting a tree which, if nurtured from time to time, will make you rich when its time comes. This is exactly how SIP works.
If you invest every month in a mutual fund through SIP, then after a certain time you will get a huge amount from there. You can make your daughter a millionaire at the age of 21 only through SIP. Let us know how this will happen?
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How will the daughter become a millionaire?
You have to invest money in SIP in your daughter’s name keeping in mind the formula of 21x10x12. This formula will make your daughter a millionaire at the age of 21 without doing anything. In this formula, 10 means Rs 10,000, 12 means 12 percent return and 21 means 21 years. If you do SIP of Rs 10,000 every month for 21 years and you get 12% return on it every year, then you can get a fund of Rs 1 crore after completion of 21 years.
Investments and returns?
If you invest Rs 10,000 every month for 21 years, your total investment will be Rs 25.20 lakh. In this, you will get return at the rate of 12 percent, then your total return will be more than Rs 88.66 lakh. In this way, after 21 years, the total amount invested by you and the interest received on it will exceed Rs 1.13 lakh. Now your daughter can use this amount in any way to improve her future. Even those who earn Rs 50,000 can run a SIP of Rs 10,000 by controlling their expenses a little. When the salary increases in future, then he can open his hands and increase the expenses also.
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Tag: business news in hindi, investment tips, mutual fund, SIP
first published : March 24, 2024, 08:27 IST
