Everyone wants by the time of retirement, he should have so much fun that later life is safe and tension free in terms of money. So for this, you should choose the option of SIP for investment. Through step-up SIP, you can create a fund of crores for yourself by retirement. So let's know how much money you can invest to become a millionaire through step-up SIP.

In today's time, everyone makes a safe investment for their future. Actually people want the investment to be such that after retirement life is spent comfortably and there is no worry about money in any way. But people with low salary often feel that it is impossible to fulfill their dream. But to make retirement safe even with low salary, it would be best to choose Systematic Investment Plan (SIP).

Yes, in SIP, you can convert small savings into a large amount. So let us understand how investors can create a fund of crores for themselves by investing a small amount every month till retirement.

Let us assume that if you are currently 25 years old and you want to retire at the age of 60, then you have a long time of 35 years for investing. In such a situation, if investors do SIP of only ₹ 2,500 in mutual funds every month and get an average return of 12% annually (which is based on market risks), then they can create a big fund for themselves in the long term with this small amount.

Follow Step-Up SIP to become a millionaire by retirement with this investment. Step-Up SIP is a smart investment strategy, which can help you achieve your financial goals quickly and easily. In Step-Up SIP, your investment amount increases by 10% every year. So suppose if you invest ₹ 2,500 per month, then next year it will increase to ₹ 2,750. By following step-up SIP, it becomes easy to achieve retirement or other big financial goals by gradually increasing investment in low salary.

If investors invest regularly every month through SIP and continue this plan for 35 years, then you can create a fund of crores in future. For example, let us understand that if you increase the investment of ₹ 25,00 by 10% every year, then after 35 years the investment amount will be ₹ 81,30,731. In this period, the return at the rate of 12% will be ₹ 3,12,81,335. By adding the return and investment amount, the total fund will be around ₹ 3,94,12,066. So you must have understood that this plan can become a strong option for retirement or big financial goals.

This plan to become a crorepati offers the power of compounding. This means that the interest you earn on your money is reinvested and you start earning interest on that too. This makes small savings huge in the long run. Keep in mind that increasing the annual SIP will help you reach your goal faster.