Curated By: Business Desk
Last Updated: December 14, 2023, 19:59 IST
Aditya Birla Wealth Aspire Fund has given a return of 19.20% on investment for more than ten years.
Assuming that the daily expenditure of a person on just tea and cigarettes is Rs 100, this would mean that the money invested in a month would be around Rs 3000.
It’s been claimed that prudent saving is the simplest path to accumulating wealth. These days, there are investing opportunities that can turn a modest sum into substantial money. Despite this, people have relatively little knowledge about investing and saving. An investor will have more than Rs 1 crore in savings by the time they retire if they avoid smoking and drinking tea. CEO of renowned Asset Management Company (AMC), Radhika Gupta, has also responded to the lax attitude of the public towards investing. According to what she claimed recently, there are roughly 20 crore OTT subscribers in India. We spend 150 to 200 rupees a month on this, yet hardly 10% of individuals invest even 100 rupees in mutual funds.
Assuming that the daily expenditure of a person on just tea and cigarettes is Rs 100, this would mean that the money invested in a month would be around Rs 3000. According to financial analyst Sandeep Jain, if merely the money saved for daily cigarettes and tea is invested, a fund worth more than Rs 1 crore will be generated over the working term or roughly 30 years.
After starting a job at age 30, someone can start an SIP for Rs 3000 per month, which will result in a total investment of Rs 10.80 lakh over 30 years. Mutual funds that invest in equity have an average long-term return of 12 per cent. This investment will grow to Rs 1,05,89,741 by retirement if this yield is any indication. During this period, Rs 95,09,741 will be received only as interest.
There are many such fund schemes in the market, which have the potential to give returns of more than 12 per cent over a long period of 20 years. According to Policybazaar.com, there are many such funds, whose average return of 20 years is more than 12 per cent.
Aditya Birla Wealth Aspire Fund has given a return of 19.20% on investment for more than ten years.
Bajaj Allianz Smart Wealth Goal also gave an annual return of 17.90% on investment for more than ten years.
Those who invested money in HDFC Life Sampoorn Nivesh got a return of 17.70% every year in the long term.
Max Life Online Savings also got a return of 16.90% on investment for more than ten years.
Bharti AXA Life Wealth Pro Fund has also given an average return of 16.60% over more than ten years