HI I am investing 10,000 per month in SIP from the last 5 years , how much time will it take me to reach 1 crore
Ans: The time it takes to reach 1 crore through SIP investments depends on various factors such as the rate of return, the frequency of investments, and the initial investment amount.
Assuming an average annual return of around 12% (which is a commonly used long-term return estimate for equity mutual funds in India), and a monthly SIP of 10,000 INR:
Using a SIP calculator, we can estimate that it would take approximately 22-23 years to reach 1 crore.
However, if you increase your monthly SIP amount or achieve a higher rate of return, the time to reach 1 crore would reduce accordingly.
Remember, this is a rough estimate and actual results may vary based on market performance. It's essential to stay committed to your investment plan and regularly review your portfolio to ensure it remains aligned with your financial goals.