First, find a mutual fund with steady returns, ideally 15% annually.
A SIP allows you to invest a fixed amount regularly in your chosen mutual fund. In this case, you'll need to continue a SIP of Rs 20,000 for 10 years.
Over a period of 10 years, your total investment will amount to Rs 24,00,000. This is the total money out of your pocket.
Assuming an annual return of 15%, your estimated returns after 10 years would be around Rs 31,73,145.
By adding your investment amount and the estimated returns, you'll end up with a whopping Rs 55,73,145 after 10 years of disciplined investing.
It's never too early or too late to start investing. Begin your journey towards wealth creation today with mutual funds.
Remember, the actual returns could vary based on market conditions and the performance of the mutual fund. Always do your own research before investing.