In the present era, there are now a variety of investment alternatives. If investing is done early, there won't be any issues. Unfortunately, most people start investing options later in life, meaning they miss the opportunity to build a sum.
Low-edge investments might generate millions of rupees. It is stated that if you start investing merely 50 rupees per day with a SIP of mutual funds, you will have crores of rupees by the time you reach retirement age. Therefore, there is a big potential for you to deposit crores of rupees if you are in class 10 or 12.
Investing Through SIP From Class 10.
You can start saving Rs. 50 each day if you're a student and want to start investing in class X. If you put in 50 rupees daily, your account will receive 1500 rupees monthly. This sum could be beneficial for mutual funds each month.
How much will be deposited?
According to the calculations, a person can deposit a significant sum of Rs 3.32 crore with an annual return of 12% by investing Rs 1500 for 45 years or until the retirement age of 60. By the time you reach the age of 60, your money will be worth Rs. 1.5 crore if the yield stays at 10%.
Investing after class 12.
Suppose you begin SIP investing after grade 12. If you invest Rs. 1500 every month and are between the ages of 17 and 19, you can earn a 12% return and receive Rs. 1.78 crore by the time you are 40 years old. At the same time, Rs 95 lakh can be withdrawn each year at a return of 10% until 60. However, you can invest in government programs like PPF NSC to make a risk-free investment.