Do you want to invest Rs 1000 per month ?
Start a SIP in Equity Mutual Funds. Over the next 5 to 10 years you can create significant wealth.
Here is how much your money can grow at the rate of ~15% per annum if you invest Rs 1000 per month.
- After year 5, you can have: Rs 93,045
- After year 8. you can have: Rs 1.9 lakhs( Your money doubles in year 8)
If you continue doing this, you can have the following amounts in:
- Year 10: Rs 2.8 lakhs
- Year 15: Rs 6.5 lakhs
- Year 20: Rs 14 lakhs
- Year 25: Rs 29 lakhs
- Year 30: Rs 60 lakhs
- Year 35: Rs 1.2 CRORES
Imagine if you are a 25 year old who starts investing Rs 1000 and continue to do it till you retire at the age of 60 – Your small saving per month will grow from Rs 4.2 lakhs (1000 x 12 months x 35 years = Rs 4.20 lakhs) to Rs 1.2 crores.
That’s the magic of compounding and investing in the Equity asset class on a regular basis.
Note: The 15% return is an assumption and not guaranteed. Your money could grow more/less if returns are higher or lower.