Here’s where you can invest you saved money to become Crorepati? Due to the corona pandemic, there is a crisis all over the world. Mostly, companies have started work from home. In India, millions of employees in India have been working from their homes Since March. As they are working from home in these 4 to 5 months so they have saved on many of their expenses such as rent, car or bike maintenance, petrol or diesel expense, and metro or bus fare. So, if you are also one of those employees during this period then you can invest it to earn money and become a Crorepati. If you invest your saved money on the right path then your dream of becoming Crorepati becomes a reality.
Suppose, your monthly salary is Rs. 60,000 and you have saved Rs. 10,000 every month. In ten months, your savings will be Rs.1,00,000. You can start investing in SIP and NPS. Long term investment will be the best option which will make you rich.
What is compounding?
Compounding is mainly the process in which earnings are further invested to generate additional earnings over time. There is definite growth because the investment will be made earnings from both its initial principal and the accumulated earnings from preceding periods. Compounding can be made as interest on the interest-the effect of which is to seem returns to interest over time is called as “miracle of compounding.”
Where to invest?
- SIP: you can begin SIP with one lakh rupees only. Suppose you invest Rs 10,000 monthly for 15 years and your investment increases by Rs. 2000 every year then your maturity amount at the end of 15 years will be over one Crore if the return rate is 12%.
- NPS: NPS is a great option if you are searching to make a retirement corpus. It is a convenient way to invest and gives many tax benefits. The amazing thing is that it gives good returns.