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Who would not want to have a good house, a good car and enough bank balance to fulfill their needs as well as their hobbies? Today, in this era of inflation, there are many people who, after earning all their life, are not even able to afford their own house. If they are unable to make money, they spend all their money on the family's upbringing and lifestyle.
Whereas in true sense every person can achieve his financial goal, if he gets necessary information about finance from the beginning and plans it.
It is not that this path to financial goals will be easy, for this you will have to work with hard work, sacrifice, penance and discipline, among these, patience is most important.
What to do for dream house and car?
For this you will need to save money right from the beginning of your job, most people give more importance to enjoyment after getting a job, they postpone the process of saving and investing money for a long time, whereas this is the right time. to convert into a habit
Now it is not that in order to save money, you should influence your current expenditure and lifestyle, this is the right time to learn to balance both investment and expenditure, all things are important for you at present. So pay attention to everyone and save
How much and where to invest?
According to financial advice, you should choose 20% of your earnings for investment. Let us assume that you are 25 years old and you work with a monthly salary of Rs 30,000, then according to the financial rule, you should invest Rs 6000.
You should invest this in a good mutual fund scheme – here your question will be why only mutual fund? Although there are many investment options available in the country, but most of the schemes do not have that good returns like Fixed Deposit, or RD, some require more money like – Real estate, some are very risky like – Stock market. Compared to all these, mutual fund is best for good returns, low risk and desired investment amount.
You can invest small amounts through SIP
SIP (Systematic investment plan) in Mutual Fund is a method which gives you an opportunity to invest small amounts of money every month. These are deducted from your bank account every month on the date chosen by you.
How much money will your SIP make?
It depends on what type of mutual fund you invest in, for how long and for how much, the annual return of mutual fund schemes is 10%, 12%, 15% and also 25%, 30% and Even 40%. This return depends on your risk appetite and investment period.
However, you do not need to take much risk, choose a mutual fund scheme which can comfortably give you 15% return every year. For this, consult a good financial advisor.
Maturity will be 90 lakhs after 20 years
If you invest Rs 6,000 every month in your salary of Rs 30,000 through SIP, then at 15% annual return, you will make Rs 90,95,730 in 20 years, here your total investment will be Rs 14,40,000 and your total investment will be Rs 76,55,730. Rupee got return on that investment
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