SIP: Start with SIP of Rs 2024 in Year 2024 and you may get corpus Rs 1 cr in these many years

In the year 2024, you can take a resolution that you will invest Rs 2024 every month (Investment in 2024) in mutual funds through systematic investment plan (SIP). It means, on a daily basis, you will have to save around Rs 67. Know how big a corpus you can create in the long term if you invest Rs 2024 every month.

If you do SIP of Rs 2024 every month, and get an annualised return of 12 per cent, then in 24 years, your corpus will be around Rs 33,85,519. Photo: Pixabay/Representational

SIP: As soon as the year 2024 begins, many people must have taken various resolutions. Some may have resolved to lose weight, while others may have resolved to earn more money or visit more places. In the year 2024, you can take a great resolution that you will invest only Rs 2024 every month (Investment in 2024) in mutual funds through a Systematic Investment Plan (SIP).

That means if we look at it on a daily basis, you will have to save around Rs 67.

Know how big a corpus you can create in the next 24 years if you invest Rs 2024 every month.

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SIP: You can create Rs 1 crore corpus

If you do SIP of Rs 2024 every month, and get an annualised return of 12 per cent, then in 24 years, your corpus will be around Rs 33,85,519.

Whereas if you do Step Up SIP and keep increasing your investment every year at the rate of 13 per cent and get a 12 per cent return on that, then in 24 years, your expected return will reach be more than Rs 1 crore.

With such a Step Up SIP, your investment SIP in 24 years will be Rs 33,23, 363.

The capital gains will be Rs 66,94,663, and the return will be Rs 1,00,18,026.

If we talk about saving Rs 2024 per month i.e. Rs 67 per day, then this money is a very nominal amount in today's time.

However, most people wonder what to do with such a small investment.

They want to invest more money so that a good corpus can be accumulated.

However, people spend a lot of time thinking about investing more money.

In such a situation, if you want to create a big corpus, do not wait for big investment and start investing with as much money as possible.

As your wealth increases, you can increase your investment and if you wish, you can also do more than one SIP.

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