Investment Tips: Savings of only 10 rupees and investment in the right place can make you a millionaire every day. This is possible with compound interest. However, a long time may also have to wait for this. Know how this method can turn your small savings into a big amount.
Crorepati kaise bane: Do you know that you can become a millionaire even by saving just 10 rupees a day? You may not believe, but it can happen. Its secret is compound interest, which is also known as the eighth wonder of the world in the world of finance. If you invest such a small amount every day and invest in the right place, then these money can increase with time that you become a millionaire. Let’s know what is compound interest and millionaire magic?
What is compound interest? (What is Compound Interest)
Compound interest means earning interest on interest. That is, your money earns interest not only on Principal Amount, but also on the interest earned earlier. Your money also increases with every year. The more time you give, the faster the money will increase.
Also read- If you save ₹ 10,000 today, what will be found after 10 years? Learn 5 smart tips for Dhansu Return
How will crores be made 10 rupees daily?
Suppose you are investing in mutual funds SIP by saving 10 rupees daily, then it will be 300 rupees in a month. Now you get an average of 12% annual return on this, then your money will gradually become a big fund. Understand complete calculation …
| Time | Your total investment amount (annually) | Amount after compound interest |
|---|---|---|
| 10 years | 36,000 rupees | 69,702 rupees (estimated return- 33,702 rupees) |
| 20 years | 72,000 rupees | 2,99,744 (estimated return- Rs 2,27,744) |
| 30 years | 1,08,000 rupees | Rs 10,58,974 (Estimated Return- Rs 9,50,974) |
| 40 years | 1,44,000 rupees | Rs 29,37,921 (Estimated Return- 27,93,921) |
| 50 years | 1,80,000 rupees | 1,18,34,676.93 (Estimated return- 1,16,54,676.93) |
Note: This calculation is based on average 12% return from SIP calculator, depending on the real return market.
Why is compounding so powerful?
Short investment, big results: Instead of spending on tea-coffee or snack daily, if you invest, the same money can make you a millionaire.
Time Magic: The sooner you start the investment, the more interest will be available on interest.
Risk control: In the long run, the effect of market fluctuations decreases.
Also read- What is the best way for ₹ 1 lakh saving? Learn expert tips
Where can you invest 10 rupees a day?
Mutual Funds SIP
Recurring Deposit (RD)
Gold Sip
P2P lending (but should understand the risk)
Disclaimer: The information given in this article is only for awareness. The investment exams and data mentioned here are only for the demo, this is not any kind of investment advice. Be sure to consult your financial advisor before investing.