Your daughter will become a millionaire in 21 years without doing anything, all you have to do is do it.

New Delhi, if you start financial planning for your daughter or son as soon as they are born, they will never face financial problems in future. Your child can become a millionaire at the age of 21 and this money can be used for his higher education, starting his own business or even for marriage. In this you have to do a small task every month. It is like planting a tree which, if nurtured regularly, will make you rich in time. This is exactly how SIP works.

If you invest every month in a mutual fund through SIP, after a certain time you will get huge amount from there. You can make your daughter a millionaire at the age of 21 only through SIP. Tell us how it will be.

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How will the daughter become a millionaire?
You have to invest in SIP in your daughter’s name keeping in mind the formula of 21x10x12. This formula will make your daughter a millionaire by the age of 21 without doing anything. In this formula, 10 means Rs 10,000, 12 means 12 percent return and 21 means 21 years. If you do a SIP of Rs 10,000 per month for 21 years and you get 12% return on it every year, you can end up with a fund of Rs 1 crore after completing 21 years.

Investments and profits?
If you invest Rs 10,000 every month for 21 years, your total investment will be Rs 25.20 lakh. In this, you will get a return at the rate of 12%, so your total return will be more than Rs 88.66 lakh. Thus, after 21 years, your total investment amount and interest earned on it will be more than Rs 1.13 lakh. Now your daughter can use this money in any way she wants for her future. People who earn even Rs 50,000 can also run a SIP of Rs 10,000 by controlling their expenses a little. When the salary increases in the future, he can open his hand and increase the expenses.

Tags: investment tips, mutual fund