We all dream of being millionaires, but it’s a path taken by a few. If you’re part of the middle class, working, and aiming to make that millionaire dream a reality, consider the Systematic Investment Plan (SIP). Many experts see SIP as the smartest way to invest nowadays, even though it’s linked to the market.
The longer you stick with SIP, the more your money grows, thanks to something called compounding interest. With an average return of 12 percent—way better than most schemes today—continuing to invest in SIP can turn you into a millionaire over time. How? Let’s break it down.
With Rs 5,000 Monthly SIP In How Many Years You Can Be a Millionaire
Imagine putting Rs 5000 every month into a SIP for 26 years. With a 12 percent return, you’d end up with Rs 1,07,55,560. That’s way more than the Rs 15,60,000 you put in over the years. It’s like planting a small money tree that grows into a pretty big one over time.
With Rs 8,000
Think about this: if you put in Rs 8000 every month for 22 years, you’d invest a total of Rs 21,12,000. But with a 12 percent return, you could end up with Rs 1,03,67,167. It’s like leveling up on your investment game for a shot at the millionaire club.
With Rs 10,000
Here’s a simple scenario: with a good salary, if you invest Rs 10,000 every month, you could hit the millionaire mark in just 20 years. That’s a total investment of Rs 24,00,000. At a 12 percent return, you’d end up with around Rs 99,91,479, almost Rs 1 crore. Stick with it for 21 years, and your returns could climb even higher to Rs 1,13,86,742. It’s like a financial shortcut to your millionaire dream.