Money Tips: How to make 5 crores in 10 years, this is the guaranteed way to become a millionaire?
If you are dreaming of saving Rs 5 crore in the next 10 years, then this is an ambitious goal, which will require a precise and disciplined investment plan to achieve. To achieve this goal, first of all, you have to choose the right investment option, which can not only give good returns but also keep your retirement savings safe.
The best option for investors to save Rs 5 crore in the next 10 years is equity mutual funds. This investment plan provides an opportunity for high returns in the long term, which can help you achieve your financial goals. The advantage of equity mutual funds is that if you have chosen the right fund for the long term, it can give you stable returns despite market fluctuations.
Systematic Investment Plan (SIP) is the best way.
If you are planning to invest regularly, then a Systematic Investment Plan (SIP) can be the most effective way. Investing a fixed amount every month in SIP not only maintains discipline in your investments but also gives you the benefit of compounding. Apart from this, SIP also benefits you when the market falls because the number of units you buy increases, which reduces your average investment cost.
Monthly investment plan through SIP
To achieve the retirement saving goal of Rs 5 crore in 10 years, you must make a proper SIP plan and invest monthly accordingly. However, this investment plan will depend on the returns you get. Therefore, it is important to consider the monthly SIP amount according to different annual returns.
Expected annual return 10% 12% 14%
Monthly SIP amount ₹2.42 lakh ₹2.16 lakh ₹1.91 lakh
Discipline and patience will bring success.
Although SIP seems to be an easy investment plan, discipline and patience are very important for it to be successful. Make sure to invest regularly every month and do not stop investing midway due to the fluctuations in the market. Also, keep reviewing your investments from time to time and make changes if needed.
How to reach your retirement goal
Be aware of the market: Before investing, get good information about equity mutual funds and the market. Make sure you understand where your money is going.
Have a long-term view: Investing in equity mutual funds is better for the long term. You are likely to get better returns from this.
Maintain discipline: Invest regularly through SIP. This will give you the full benefit of compounding and your investment will gradually grow.
Keep an emergency fund ready: While investing in SIP, also ensure that you have an emergency fund, so that in case of any financial crisis, you do not have to break your SIP.
With such a planned and disciplined investment strategy, you can easily achieve your retirement saving goal. Whether your target is Rs 5 crore or more, create the right SIP plan and invest in it consistently so that you can enjoy a secure and financially independent future.
