Starting a SIP is like planting a seed — it grows slowly at first, but over time, the magic of compounding works wonders. Let’s say you invest Rs. 30,000 as your SIP amount monthly without an annual increase in your SIP contribution. Assuming an annual return of 12%, it takes eight years to reach your first Rs 50 Lakhs. But, here comes the surprise: with the power of compounding, it only takes 4 years to achieve your second Rs 50 Lakhs and just three years for the third Rs 50 lakhs.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.