HomeInvestmentMillennials – are you ready to be Multi-Millionaire by the next decade?
Millennials – are you ready to be Multi-Millionaire by the next decade?
February 1, 2022
Millennial is the name given to the generation born from 1981 through 1996.
As per the average expected returns in some tested and trusted investments, the people of this generation ‘Y’ can become multi-millionaire by the next decade, though terms and conditions apply in every investment.
If we talk about at healthy and good amount invested on monthly basis in Systematic Investment Plan (SIP), we could achieve this.
SIP works on the POWER OF COMPOUNDING. If we keep on investing on regular basis, it works as a strong foundation for our best returns.
When you consistently invest for a long period of time, the interest earned is reinvested and you earn returns on the collective amount. This is known as Compounding Effect.
To achieve this, you have to strictly follow the three rules of investment:
Start investing early
Keep investing regularly
Stay invested irrespective of markets ups and downs
SIP is a regular and disciplined investment program. Rather than trying to time market fluctuations, it allows you to invest a fixed amount each month.
By investing a fixed amount each month, market fluctuations can work in your favor, allowing you to buy more units when prices are low and fewer units when prices are high.
Here are some of the benefits of SIP:
Ability to invest on a regular basis over time rather than paying a lump sum
Low minimum investment
Power of compounding
And much more..
There is no doubt that if you invest big amounts each month in SIP and buy good number of units, then you can become a multi-millionaire in just a decade.
SIP is invariably a straightforward method of investing in mutual funds. It works on a principle somewhat similar to a bank recurring deposit account but it is far farbetter than that.
This means that you will invest small amounts of money each month in an SIP investment plan. For the money, you will get someunits of the Mutual Fund you have chosen and this keeps on going on regular basis.
As you add more money, the number of units in your investment portfolio keeps growing. Besides, an SIP offers very attractive returns along with providing the ability to start investing with a small amount.
FINDING THE BEST MUTUAL FUNDS FOR SIP
Now we come to the tricky part: identifying the best mutual fund for SIP that will give you the highest returns for your SIP investment. It can be as difficult as finding a needle in the haystack.
Why do we call it tricky? There are 44 Asset Management Companies (AMC) or mutual fund houses operating in India. Together they offer hundreds of mutual funds in various categories. And more and more mutual funds appear on the horizon every month in the form of new fund offerings (NFOs).
In this scenario, it can be very difficult for any DIY investor to select the best mutual funds for SIP. However, here comes the role of RK Financial Services (RKFS), all thanks to the team of experts in the investment sector.
So, are you ready to embark on this journey of becoming a multi-millionaire only in 10 years? Of course, you are! Who wouldn’t like to make his money (or investment) grow multiple times in the shortest time?
We invite you to start investing in SIPs as early as possible so that you can utilize the true potential of your savings, the market, and compounding.