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Ask Money Today: How much wealth can I create with SIP of Rs 5,000 per month?
Considering returns of 12 per cent CAGR on your investments, and a consistent investment of Rs 5,000 per month through SIP, you can create a wealth of over Rs 25 lakh after 15 years
I want to invest Rs 5,000 per month in mutual funds. I have just entered college. I am 19-years-old. How much wealth can I create by investing Rs 5,000 every month in a good mutual fund for 15 years?
-Rishabh Jain
By Divam Sharma, Co-Founder, Green Portfolio
I congratulate you on this decision to start investing so early in your life. Starting early and making a habit of investing in a disciplined manner through systematic investment plan (SIP) is the best way to create wealth from mutual funds.
Ask Money Today: How much wealth can I create with SIP of Rs 5,000 per month? businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Ask Money Today: Which are the best mutual funds for a 24-year-old?
Equity mutual fund investors should think about reducing their risk through ensuring right selection of funds, professional advice, continuous tracking and rebalancing of their portfolio
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I am 24 years old. I have just started working, got my first job in a fashion studio. I believe I am a risk-taker, though I have not invested earlier. I want to invest in equity funds now. I do not have any loans. I will be earning Rs 28,000 per month. Kindly help me with a list of best equity mutual fund schemes to start my investments. I can invest Rs 15,000 to 18,000 per month. Also, what is a tax-saving mutual fund? Do I need to invest in it?