If you invest in SIP (Systematic Investment Plan) in the right way, then the dream of becoming a millionaire in just 10 years can come true. This is possible only when you choose the right scheme and keep investing in it continuously.
Franklin Build India Fund.
According to AMFI (Association of Mutual Funds in India), Franklin Build India Fund can be an excellent option. This fund has given a return of around 22.45% in the last 10 years, making it a very attractive investment option.
Become a millionaire with a monthly SIP of ₹25,000
If you do a SIP of ₹25,000 every month in this fund, then in the next 10 years you can easily accumulate a fund of more than ₹1.12 crore. This is not magic, but the result of the miracle of compounding.
Increase your SIP every year
To make the most of this scheme, you should increase your monthly SIP amount a little every year. This will also increase your returns and you can become a millionaire quickly.
It is important to maintain continuity
The real benefit of SIP will be achieved only when you keep investing regularly without any break. If you do not pay the installment for any month, it can have a bad effect on your returns. Therefore, it is very important to maintain continuity in investment.
| year | Monthly SIP amount (₹) | Annual Investment (₹) | Total Investment (₹) | Total Estimated Return (₹) | Total Fund Value (₹) |
|---|---|---|---|---|---|
| 1 | 25,000 | 3,00,000 | 3,00,000 | 67,350 | 3,67,350 |
| 2 | 25,000 | 3,00,000 | 6,67,350 | 1,49,828 | 8,17,178 |
| 3 | 25,000 | 3,00,000 | 11,17,178 | 2,54,329 | 13,71,507 |
| 4 | 25,000 | 3,00,000 | 16,71,507 | 3,84,967 | 20,56,474 |
| 5 | 25,000 | 3,00,000 | 23,56,474 | 5,47,136 | 29,03,610 |
| 6 | 25,000 | 3,00,000 | 32,03,610 | 7,46,596 | 39,50,206 |
| 7 | 25,000 | 3,00,000 | 42,50,206 | 9,89,561 | 52,39,767 |
| 8 | 25,000 | 3,00,000 | 55,39,767 | 12,82,742 | 68,22,509 |
| 9 | 25,000 | 3,00,000 | 71,22,509 | 16,33,458 | 87,55,967 |
| 10 | 25,000 | 3,00,000 | 90,55,967 | 20,49,671 | 1,11,05,638 |
Basis of calculation:
- Monthly SIP amount: Investing ₹25,000 every month.
- Annual Investment: Total annual investment of ₹25,000 × 12 = ₹3,00,000 in 12 months.
- total investment: Adding the total investment of previous years with the SIP amount of next year.
- Total Estimated Return: Based on annual compounding return of 22.45%.
- Total Fund Value: Total Investment + Estimated Returns.
