Investment Tips: SIP of 2 thousand will make you a millionaire! Understand this formula immediately from the advisor of Mutual Funds

Chandauli: Everyone’s dream is to become a millionaire, but very few people know that this dream is not limited to dreams only, but it can also be made true through the right investment strategy. Mutual Funds and SIP (Systematic Investment Plan) are mediums from which the common man can also collect a lot of money in a long period. If you start investing with just ₹ 2000 SIP every month and continue it for a long time, then this small amount can turn into big capital in future.

This is how financial planning
On Local 18, Mutual Funds expert Abhishek Singh said that any person should first meet a qualified financial advisor and make his financial planning. This will help you to set your goals and choose the right fund. Giving an example, he said that if a person does SIP of Rs 2000 every month and he gets 15% annual return for 26 consecutive years, then he can deposit an amount of about Rs 1 crore 2 lakh.

Learn how Mutual Funds works

Abhishek Singh also explained how Mutual Funds work. Fund managers put your money in different sectors and companies in the stock market. According to the market situation, fund managers change these investments from time to time, so that investors can get better returns. That is why it is important that you invest under the guidance of an experienced financial advisor.

Age plays a very important role

He also said that the age of the person plays a very important role while investing. If you are young, you can invest in a small cap or mid cap fund, which is more risk, but returns can also be better. At the same time, hybrids or balanced funds are better options when they are older, because they have low risk and get better returns from FD.

You can also become a millionaire!
Abhishek Singh also suggested that people who have a special goal, such as children’s education or marriage- can invest in small cap, mid cap or multi-cap fund. Giving examples, he said that most people choose a government scheme like Sukanya Samriddhi Yojana, which only gives a return of 7-8%, while investing in the Children’s Plan of Mutual Funds can give better returns. In this way, if you are serious for your future and start the right investment at the right time, then becoming a millionaire can also become a reality.