New Delhi. This is not the time to be satisfied with becoming a millionaire, but to take steps towards becoming a millionaire. To become a millionaire, you either have a strong business or invest with planning. For most businesses, you need a hefty amount first, but there is no such barrier for investment. Start with a small amount and continue investing. You can become a millionaire in a few years. To become a millionaire quickly, first look for the best option, in which risk is low and returns are strong. Mutual funds are absolutely perfect in this regard.
Planning is not necessary to start investing in similar mutual funds. Rather you have to do planning. First of all you should have a target. Start SIP according to that target. SIP is considered a good way of investing in mutual funds. If you intend to create a fund of Rs 1 crore, then we will tell you the special trick for this.
This is how to pay SIP
The units of the scheme are allotted to mutual fund investors. But after making the payment at the right time, there have been reports of some investors not getting the unit. To avoid this problem, mutual fund investors should pay by digital platform instead of checks. Actually it can take three days to clear the check. Meanwhile, if the stock market picks up, you will not get the benefit. But you will not face any such hurdle in digital payment. Every fast you will get the benefit and the returns will also be good. As a result, you can quickly become a millionaire.
Know the important rules of SEBI
It is important for you to know the important rules of SEBI, under which you will get units allotted only after the fund house gets all the money. The check delays the payment and you do not get the units quickly and you lose. However, you will not suffer any such loss in SIP. These losses will happen to those who are putting big money together.
This is how mutual fund units are available
For mutual fund units, keep in mind two things. The first is that you should place an order before 3 pm for equity or debt scheme. At the same time, it is 1.30 pm for liquid funds. The second important thing is that your money is required to reach the fund house by getting units. Now it is possible in digital payment, but it is not possible to pay by check.
You will Become a millionaire
According to an estimate, those who start investing at the age of 20 will have to invest Rs 900 every month in a diversified mutual fund through SPI. Continue these investments continuously for 40 years. If you get 12.5% returns every year on an average in these years, after 40 years your total investment will be Rs 1.01 crore. If you are old, then you will have to invest more accordingly.