The surest way to become a crorepati. A few ways, of course, are:
- Ø Winning a lottery
- Ø Winning the KBC show
- Ø Getting it in inheritance
- Ø Saving and investing with a plan that can get you there
Unless I am really lucky or extra-ordinarily talented my chances of becoming rich are slim by the first three ways. The fourth way seems to me like something that we can do to achieve our goal.
I want to become a crorepati in 10 years
Time is running out on you. Though 10 years is not a long duration, it is not too short either. So your dream can still be achievable.
•With a return of 15% per annum, the amount of savings required each month is Rs 36,334/-.
•With a return of 10% per annum, the amount of savings required each month is Rs 48,817/-.
•With a return of 5% per annum, the amount of savings required each month is Rs 64,398/-
For instance, if an investor puts Rs 1,000 every month in SBI Magnum Emerging Business Fund - the best performer among all equity funds in the past five years - for five years (Rs 1,000 x 60 months = 60,000), he would have been sitting on approximately Rs 1 lakh today, which amounts to 21 per cent returns.
"SIP investments average out market volatility by a good measure. Also, it prevents investors from trying to time the market. We're promoting SIPs in a big way as it enables small investments at regular intervals
For instance, if an investor puts Rs 1,000 every month in SBI Magnum Emerging Business Fund - the best performer among all equity funds in the past five years - for five years (Rs 1,000 x 60 months = 60,000), he would have been sitting on approximately Rs 1 lakh today, which amounts to 21 per cent returns.
"SIP investments average out market volatility by a good measure. Also, it prevents investors from trying to time the market. We're promoting SIPs in a big way as it enables small investments at regular intervals
As an investor you always look forward to investing in an asset class that would maximize your returns and history shows that equities as an asset have been most rewarding. Investing in equities isn’t a cakewalk though. It requires a lot of patience and research to build a fortune with equities.It is advisable to go with systematic Monthly Investment {SIP}........
Start Your SIP today!!!
