Let’s take it from your salary.
Salary: 55,000 per month (Assuming this is in hand)
Invest In Mutual Funds
- Earn higher returns by investing in direct mutual funds
- Start investing in less than 2 mins
- It's FREE
Monthly Savings: ~Rs. 25k (if it’s less try to save more)
Let’s do some quick maths
- Monthly Investment: 25,000 (55k – 30k expenses)
- Time Period: 20 years
Based on the below chart, you can get ~16% if you invest in equities.
Assuming 16% monthly returns (using)
Your Final Amount after 20 years will be around Rs. 3.7 Cr.
Next the question is where should you invest this money.
- SIP in Mutual Funds: SIP is nothing but a way to invest in mutual funds on regular frequency and most famous frequency is Monthly. Mutual Funds are a collection of stocks or bonds that a professional Fund Manager buys on behalf of you. Fund Manager decides which stock or bond to buy and how much. A mutual fund then distributes the entire investment amount in small units (called units). Investors can buy these units instead of buying stocks directly. For details on Mutual funds:
- Portfolio of Mutual Funds: A portfolio is a basket of mutual funds. Groww curates portfolios that you can invest in for your goals. You can also create your own portfolios. Portfolio helps you in diversifying your investments and reduce risk.
Option 1: Top Balanced Funds:
Option 2: Top Large Cap Funds:
Option 3: Top Mid Cap Fund
Option 4: Top Small Cap Fund