Who doesn¡¯t wish to be a crorepati, right? Assuming that you are amongst those who aren¡¯t born rich, you would either need to win a lottery or invest your money to become a crorepati someday. While the first option is not in your hands, the second one is.
So if you are a youngster belonging to the Gen Z generation (those born from 1997-2012), here¡¯s how you can invest your money and accumulate Rs 1 crore wealth through small but disciplined investments through mutual fund SIPs.
We have split the Gen Z generation into four age groups, and explained approximately how much money you would need to invest for you to become a crorepati (assuming a conservative rate of return of 12% p.a. for equity mutual funds). The SIP calculator tool has been used for calculations.
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Rs 20,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.
Rs 10,500 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.
Rs 27,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.
Rs 14,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.
Rs 44,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.
Rs 20,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.
Rs 69,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.
Rs 28,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.
Here, you need to keep in mind that the sooner you start investing, the smaller amount of money you need to invest, as a longer investment horizon gives your invested money more time to grow and benefit from the power of compounding. Click here to understand the magical power of compounding.
Also Read:?How Much You Need To?Invest?To Accumulate Rs 10 Crore in 10 Years
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