Monthly SIP of 10000 in Nippon India Growth Fund since launch has become 23.65 crore in 29 years
SIP is a tool to become millionaire, if there is a consistency and discipline. Even small amount of SIP 10000 can grow up to 64 times of your investment in 29-30 years.
Let’s take one example of Nippon India growth fund has given 22.75% CAGR return since launch, which multiplied your investment of 36 lakhs has become 23.65 crore in 29 years.
Matter is to choose best alpha generated fund and stick for longer horizon.
While choosing best alpha fund and having consistency can fulfil your all-financial need at times of retirement.
All the way mutual funds are also best tool to create corpus for other financial need like child education, child marriage, dream home, & even dream world tour in the long term.
SIP basically works in two way one is cost of averaging and second one magic of compounding.
Similarly, can see how it compounded your SIP investment of INR 10000 in 3 years with CAGR of 28% and in 5 years with CAGR of 25.62%, which has grown up to 5.38 lakhs and 11.3 lakhs respectively.
NOTE: This story is for informational purposes only to make you understand. Mutual fund investments are subject to market risks, read all scheme related documents carefully. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. The Mutual Fund is not guaranteeing or assuring any return.