New Delhi. There has been a lot of change in the thinking of the general public in the last few years. Earlier, where people used to be satisfied only when their capital reaches a few lakhs, now people have a desire to become millionaires.
This wish of the people is not even impossible. Anyone can fall in the category of crorepati by investing only three thousand rupees in mutual fund scheme every month. Let us tell you how any person can become a millionaire even with less investment.
three types of investment
There are three types of investments that can be made to become a millionaire. The first is to create a fund of one crore rupees in the long run with low investment and the second way is to invest a little less now and later on increasing it every year. With this, a fund of Rs 1 crore can be created easily. On the other hand, a little more investment, in which you can easily create a fund of one crore in a short time.
Will have to spend a little more time with less investment
If you have less money to invest to create a corpus of Rs 1 crore with less investment, don’t worry. You have to spend a little more time with less investment. If you invest three thousand rupees per month for 30 consecutive years, then you will have a fund of 1 crore rupees.
There is another way that you can also become a millionaire by increasing the investment every year. If you invest in a good mutual fund scheme from Rs 1100 per month, then you will get an increase of 11 percent every year. You will comfortably become a millionaire in 30 years.
Invest by increasing 11 percent
The meaning of increasing the investment every year is that in the first year, 1100 rupees month, then the next year by 11 percent of 1100 rupees should be increased. At the same time, the total investment should be increased by 11 percent in the next year. If you keep doing this for 30 years, then starting from 1100 rupees one crore can be made.
Will prepare a fund of one crore in 15 years
On the other hand, the third way is that if you want to create a fund of Rs 1 crore soon, then you invest Rs 15,000 every month. You will become a millionaire in just 17 years. On the other hand, if you invest 20 thousand rupees a month, then you will create a fund of one crore rupees in 15 years.
Top 5 Mutual Fund Schemes With Good Returns
Among the schemes, SBI Small Cap Mutual Fund Scheme has given an average return of 23.58 per cent in 5 years. Nippon India Small Cap Mutual Fund Scheme has given an average return of 22.84 per cent over 5 years. On the other hand, Axis Small Cap Mutual Fund Scheme and Kotak Small Cap Mutual Fund Scheme have given average returns of 22.09 and 21.62 per cent over 5 years. PGIM India Midcap Mutual Fund Scheme has given an average return of 21.02 per cent over five years.