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Investing ₹9,000 monthly in a Systematic Investment Plan (SIP) can help you build a retirement corpus of ₹7 crore. The power of compounding plays a crucial role in growing your investment over time. Starting early is key, as it gives your money more time to grow.
For example, if you start investing ₹9,000 per month at an annual return of 12%, you can achieve the following:
- In 10 years: Your investment of ₹10,80,000 can grow to ₹20,16,323.
- In 20 years: Your investment of ₹21,60,000 can grow to ₹82,78,716.
- In 30 years: Your investment of ₹32,40,000 can grow to ₹2,77,28,759.
- In 38 years: Your investment of ₹41,04,000 can grow to ₹7,00,68,602.
SIP is beginner-friendly and convenient, with automated deductions ensuring you don’t miss out on investments. Even a small investment can build a sizeable corpus in the long run. By starting early and investing consistently, you can turn a modest monthly investment into a substantial retirement fund.
