people coming from the middle class who do middle level jobs, due to their limited income, find it very difficult to create a corpus of crores by retirement. But you will be surprised to know that if a better strategy of investment and savings is prepared, then creating a corpus of crores by retirement is not a difficult task. This is an investment funda, by adopting which you can accumulate a fund of up to 50 crores.
Suppose someone is 23 years old. He has just started working. In such a situation, if he works till the age of 60, then his working life will be 37 years. Suppose that person's salary is 60 thousand rupees per month. In such a situation, if he invests 22 thousand rupees per month through SIP, then according to the compound annual growth rate of 12 percent, he can easily achieve the target of creating 50 crores by the age of 60.
Investing Rs 22,000 per month in SIP will make it Rs 2,64,000. Based on a compound growth of 17%, your entire fund will become Rs 2,81,000 in a year. Compounding will be visible in the fund from the first year itself. After 10 years, based on the increase in the minimum salary, you can deposit Rs 51,875 every month in SIP. In this way, after compounding, your total fund will become Rs 74,23,000. After 20 years, your monthly SIP will be Rs 1,34,550. By that time, your total fund will have reached Rs 4 crore 37 lakh.
After 30 years, the fund will be Rs 19 crore 43 lakh
If you keep increasing the stake of SIP according to your increasing salary, then after 30 years your monthly SIP will become Rs 3,48,000. After 37 years, at the time of your retirement at the age of 60, your monthly contribution in SIP would have reached Rs 6 lakh 80 thousand. Similarly, the fund would have crossed Rs 51 crore.
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