If you want to invest keeping the long term in mind, invest in a place where you get good interest rates on your savings. In such a situation, you should invest in mutual funds. Mutual fund investments are subject to market risks, but the return potential from this area of investment is also high. If you are investing in this sector. In such a situation, you need to have a good financial understanding. Mutual fund schemes should be chosen very thoughtfully. In this series, today we are going to tell you about the mathematics of investment, with the help of which you can become a millionaire by saving Rs 166. Let us know about it in detail -
For this, first of all, you should choose a good mutual fund scheme. You can also choose a mutual fund scheme by taking advice from an expert. After this, you have to make SIP in it.
After making SIP, you will have to save Rs 166.66 daily and invest Rs 5,000 every month. You will have to make this investment for a full 30 years.
During this period, you have to expect that your investment will get an estimated return of 13 percent every year. In such a situation, after 30 years you will be able to collect a total of Rs 2.2 crore. With this money, you can secure your future financially.
(PC: iStock)
