SIP Calculator for Wealth Accumulation
A Systematic Investment Plan (SIP) of Rs 30,000 per month can generate significant returns over time. SIPs have become a convenient and disciplined way to invest in mutual funds. With a fixed monthly contribution, you can build a substantial corpus thanks to the power of compounding.
Using a SIP Calculator
A SIP calculator is an online tool that helps estimate the future value of your investments based on certain inputs. Let’s assume an expected return of 12% per annum, which is typical for mutual funds. The calculator gives you a clear idea of how your money will grow over time, aiding in goal-based financial planning.
If you choose a more conservative return rate of 10% per annum, your wealth accumulation may vary. The longer you stay invested, the higher your returns tend to be, as the compounding effect works better over time.
Whether you are saving for a house, education, or retirement, a monthly SIP of Rs 30,000 can help you achieve your financial goals. It’s essential to start early and stay consistent with your investments to reap the benefits.
Regularly using a SIP calculator can help you track your progress towards your goals and make necessary adjustments to your investment strategy.
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