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How to Grow ₹2,000 SIP per Month to ₹1 Crore: A Comprehensive Guide
Published at: Jul 26, 2024 at 02:23 PM
Investing with a Systematic Investment Plan (SIP) be a really great way to build up your wealth over time. If you kick things off by investing ₹2,000 every month, you could aim to grow that corpus into ₹1 crore. Learning how to use some SIP & tools is key planning. This guide help you figure out how to reach this goal using a SIP calculator, a SIP plan calculator, and more.
Understanding SIP and Its Benefits
A Systematic Investment Plan (SIP) lets people invest a set amount regularly into mutual funds. This steady method helps average out the cost of investments while taking advantage of compounding power.
Using SIP Calculators to Achieve Your Goal
To grow your ₹2,000 SIP each month into ₹1 crore, you’ll need to figure out how long it might take & what kind of return you should expect. There are several calculators that can really help with that. You can search on google with keywords like sip calculator, SIP Plan Calculator, Systematic Investment Plan Calculator, Mutual Fund Calculator, SIP Calculator SBI etc.
Let us assume that we started doing SIP of 2000 rupees per month in a mutual fund whose avg CGAR rate is 15% per year. The table shows that how your investment grown with time and compounded into a enormous sum with a little amout every month
So atlast we can say that mutual fund sahi hai if you are invested into a long period.