Thursday, February 2News That Matters
Shadow

SIP Crorepati Calculator: How to become a crorepati in 10 years? Check investment and return calculator | Personal Finance News


How to become a crorepati? Be it a salaried person or a small businessman, everyone wants to accumulate a large corpus in their life – be it for retirement or for other life goals. While it may seem an uphill task to many, according to experts, any earning person can become a crorepati if they chose to invest regularly and systematically in instruments that yield inflation-beating returns in long run. You can become a crorepati in five, ten or 15 years depending upon the amount of investment you are making into the instrument. Since the investment amount is too high for five years tenure, here we will tell you the investment strategy devised by experts to become a crorepati in 10 and 15 years. 

How to become crorepati in 10 years?

So, if you want to become a crorepati in 10 years through the SIP, you will have to invest around Rs 55,000 per month for 10 years if the rate of return is 8%. By this method, you will invest around Rs 66,00,000 and the maturity amount would be Rs 1,01,29,112. If the rate of return is 10%, you will have to invest Rs 49,000 per month. The total investment would be Rs 58,80,000 and the maturity amount would be Rs 1,01,21,049. However, if the rate of return is 12%, then one needs to invest Rs 44,000 per month. The total investment would be Rs 52,80,000 and the maturity amount would be Rs 1,02,22,919.

How to become crorepati in 15 years?

Now, if the investment tenure is increased to 15 years similar to the Public Provident Fund (PPF), you will have to invest Rs 29,000 per month to make it Rs 1 crore at the rate of 8%. The total investment would be Rs 52,20,000 and the maturity amount would be Rs 1,01,02,009. If the rate of return is 10%, then you need to invest Rs 24,000 per month. In this case, the total investment would be Rs 43,20,000 and the maturity amount would be Rs 1,00,30,182. If the return rate is increased to 12%, the monthly investment required would be Rs 20,000. The total investment would be Rs 36,00,000 while the maturity amount would be Rs 1,00,91,520.  





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *