Last Updated on 10/08/2024 by wccexam Desk
Everyone wants to become a millionaire and wants to save a lot of money as soon as possible. Especially people often save money for retirement, so that they do not have to face financial problems when they retire. In such a situation, if you also want to do big planning for retirement and want to deposit crores of rupees in your account, then this method of Mutual Fund can be best for you.
Shivansh Dandona, Head of Investment Management, FinEdge, told Business Today how you can accumulate a huge amount with monthly deposits. If you plan from now, a large amount will be in your account by the time of retirement. It may take you 19 years to accumulate Rs 8 crore. He has also shared the strategy for this. He has told how much should be invested where.
How will the fund of Rs 8 crore be collected?
A rough estimate shows that by investing ₹50,000 every month through SIP for 19 years, you can accumulate a corpus of close to ₹5 crore during this period. However, it is advisable to step-up your SIP by 8% every year to make this amount Rs 8 crore and this will be enough to reach your retirement fund. The step-up will increase on an annual basis. In this case, your monthly contribution will also not be affected.
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How to prepare a portfolio?
Experts said that 50 thousand monthly SIP should be done in different funds. So that the money remains safe and the investment amount also increases rapidly. 50% should be invested in large cap. 25 percent should be invested in mid cap fund and 25 percent in small cap fund.
It is worth noting that if you plan your investment in this way, you can achieve your goal in a few years or till retirement. This is a way through which a big goal can be achieved over time.
(Note- This calculation has been done by experts. You should invest in any fund only with the help of a financial advisor)
Source (PTI) (NDTV) (HINDUSTANTIMES)