By Admin 
Financial Planning: Nowadays everyone dreams of becoming a millionaire. In such a situation, it is not necessary that to become a millionaire you always have to start with a big amount. If you start investing early and regularly over a long period of time, even small savings can add up to huge sums over time. The most important reason for this is compound interest, which continuously increases the returns on your investment.
If you invest just Rs 5,000 every month, you can create a corpus of around Rs 1 crore over a long period. But it depends on where you invest the money and how much return you will get from there.
Investing in gold can also create a fund worth crores
If you invest gold for a long time, then this can be a better option for you. In such a situation, if you invest ₹ 5,000 every month, then you can achieve the target of Rs 1 crore in about 29 years.
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- Monthly Investment: 5000
- Time period: 29 years
- Estimated Returns: 10% per annum
- total investment: 17 lakh 40 thousand
- Estimated Returns: 85 lakh 19 thousand 21 rupees
- Total Value: About Rs 1 crore 25 lakh 9 thousand 21
1 crore can be made like this
Mutual fund SIP is a great option for long term investment. Although there is no guarantee of returns in this, there is a possibility of getting good returns in the long run.
Investment Method: Mutual Fund SIP
- Investment every month: 5,000
- Time period: around 25.5 years
- Estimated Returns: 12% per annum
- Total investment amount: 15 lakh 30 thousand
- Estimated Interest/Return: 85 lakh 72 thousand 957
- Total Fund: About 1 crore 1 lakh 2 thousand 957
Get Rs 1 crore from PPF
On the other hand, if you like less risk, then Public Provident Fund (PPF) can be a good option for you. However, the returns are low due to which it may take you a long time to reach Rs 1 crore.
- Annual Investment: 60000
- Estimated Interest Rate: 7.1%
- Time period: about 37 years
- total investment: 22.2 lakh
- Earning from interest: 83.27 lakh
- Maturity Amount: about 1.05 crores
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