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Mutual Fund SIP Calculator: 20-20-20 formula! Start with Rs 20 a day to build Rs 34 lakh in 20 years
Mutual Fund SIP Calculator: 20-20-20 formula! Start with Rs 20 a day to build Rs 34 lakh in 20 years
Source: Financial Express 3 hours ago
The power of compounding can turn even the smallest contributions into significant wealth over time. A Rs 20-a-day SIP investment with 20% annual step up in an equity mutual fund can grow into Rs 34 lakh in 20 years, assuming an annualised return of 14%. To put it in perspective, this requires just Rs 7,300 in the first year and this can be increased by 20% every year.
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