SIP Investment Plan: How to make 1 crore with 30,000 salary?

In today's time, every employed person wants his salary not only end in expenses, but also a fund of crores in future.If your salary is Rs 30,000, then there is no need to think that it is difficult to become a millionaire.You can also reach Rs 1 crore through the right SIP Investment Plan and Smart Financial Planning.

Saving habit of saving salary

The first task of Rs 30,000 should be that you separate a part of your income for savings and investment.The easy way is 50-30-20 Rules-50% of income in income requirement, 30% lifestyle and 20% should be imposed in investment and saving.That is, if you invest from Rs 6,000 to Rs 10,000 every month, then it can become a very big amount in the long term.

Why is sip better option

SIP means systematic investment plan is the easiest and intelligent investment method.In this, every month you invest money in mutual funds in small installments.The magic of compounding in SIP works, that is, the interest on your money also starts earning interest later.For this reason, small investment in the long term can also reach crores.

How to make 1 crore from SIP 10,000 rupees

Suppose you invest Rs 10,000 in SIP every month from your salary and on an average 12% annual returns are received.If you do SIP for 20 consecutive years, then your total investment will be Rs 24 lakh.But with the power of compounding, this amount can reach about 1 crore rupees.That is, big funds can be made even with small investment.

Long term importance

The biggest condition of SIP Investment Plan is patience and long term.If you stop investing in the middle or withdraw money, then the dream of crores will not be fulfilled.The longer you invest for the longer period, the more compounding the compounding will get the benefit.Continuing SIP for 15 to 20 years, there is a lot of possibility of becoming a millionaire.

Increase investment by controlling expenses

Often people say that it is difficult to invest from salary as expenses become more.But if you control small places then investing is easy.Such as reducing food outside, preventing unnecessary shopping or avoiding small loans.If you add Rs 2,000–5,000 to the SIP, then your fund will grow faster.Disclaimer: This article is written only for the purpose of information and education.The returns mentioned here are estimated and depend on market performance.Any investment includes risk.Be sure to consult your financial advisor before investing.