The job salary is 25,000, but you will have 1 crore in your account! This amazing calculation of SIP will turn it into reality.
SIP is considered the best option for investment in today's time. Even if you earn less, you can still become rich by investing in SIP. So let's understand how a person with a salary of 25,000 rupees can become a millionaire through SIP.
On hearing the word 'crorepati', it often seems that this dream is only for businessmen or people with a salary of lakhs. But it is not so, if you do the right investment planning, then you can become a millionaire even with a job of just ₹ 25,000 per month. For this, neither any lottery is needed, nor any miracle. To become a millionaire, all you need is a little discipline and that 'magical formula' of investment, which we are going to reveal to you today. Let us then understand the action plan of this entire 'Mission Crorepati'.
People are often shocked to hear about the journey from a salary of ₹25,000 to ₹1 crore. But this is absolutely possible. We all often think that to become rich, the income should be very high. But the real secret is not in earning more, but in saving it properly and investing it in the right place. So let us understand how you can become a millionaire with the help of SIP in a salary of 25000.
If you start with a SIP of Rs 4,000 per month. So you can become a millionaire in 25 years by taking an average return of 15 percent. Yes, if you invest Rs 4,000, then the investment amount in 25 years will be ₹12,00,000. On this, the return of 15 percent will be ₹98,26,243. Then the total fund will be ₹1,10,26,243.
Apart from this, if you increase the investment gradually, then also you will become a millionaire. With step-up SIP, your investment amount increases gradually as your income increases. For example, at the rate of 12%, the investment is ₹4,000 in the first year, ₹4,200 in the second year and ₹4,410 per month in the third year. With this smart method, you will be able to achieve the target of a large amount without any burden.
If you invest a small amount in SIP from the beginning and keep increasing it every year, then it will be easy to become a crorepati. Suppose you start SIP with ₹5,000 per month and increase it by 5% every year, then the target of ₹1 crore can be achieved in 23 years. On the other hand, if you increase it by 10% every year, then this target can be achieved in 20.5 years. With a SIP of ₹7,500 per month, this period can be reduced to 18 years and if you start with ₹10,000 and increase it by 10% annually, you can become a crorepati in just 16 years. These examples show that the faster you invest every month, the sooner you can create a fund of 1 crore rupees.
The first and most powerful rule of becoming a crorepati with a low salary is to make a budget. Never forget to break your monthly salary into these three parts. In which 50% (₹12,500): Necessities (House rent, ration, bills, EMI). Then 30% (₹7,500): Hobbies (traveling, shopping, eating out) and 20% (₹5,000): Keep savings and investment (this is your magic amount!).
Yes, if you want to achieve the target of Rs 1 crore quickly, then adopting the Step-Up SIP strategy can be very beneficial. Step-Up SIP is a smart and effective way to achieve your financial goals quickly.
