New Delhi: Long-term investments serve two purposes: on the one hand, they help you build a large corpus, on the other hand, they have the potential to protect you against all market probabilities.
One such long-term investment is the Monthly Systematic Investment Plan (SIP) which allows you to regularly invest a specified amount of money in a mutual fund of your choice. (Read also: Tax on cryptos: how to declare it when filing an ITR, what will be taxed and what will not?)
Here is a hypothetical Crorepati Calculator, which gives you insight on how to earn crore by investing only Rs 6000 per month.
According to HDFC Securities’ SIP Calculator, investing and reaping benefits is based on three basic parameters
– How much can you invest monthly?
– For how long do you plan to invest?
– Your investment style: conservative, moderate and aggressive
Based on the above parameters, HDFC Securities SIP Calculator says
– If you are a conservative investor, the amount you will receive is Rs 58,06,335
– If you are a moderate investor, the amount you will get is Rs 74,02,679
– If you are an aggressive investor, the amount you will get is Rs 1,00,71,684
Several online SIP calculators are available in the market, which gives you an idea of your monthly investment calculator and the expected returns you might reap. The above amount is only a basic assumption. You can choose the amount based on how much you can invest, select the term and expected rate of return, and get the value at maturity.
(Disclaimer: Please check with your portfolio manager before investing in any fund. This story is not intended as financial advice. It is merely a hypothetical indicator)