Starting at 30 could help an investor build around Rs 30.81 lakh, compared with about Rs 17.02 lakh for someone starting at 35.
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Starting at 30 could help an investor build around Rs 30.81 lakh, compared with about Rs 17.02 lakh for someone starting at 35.
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While investors may think that a small difference in interest rates offered by banks does not matter, it can have a significant impact on investment outcomes due to the power of compounding.
Both options offer advantages, and the right choice depends on factors such as your financial goals, liquidity requirements, risk appetite and investment horizon.
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A 20-year investment horizon is generally considered a long period that gives money more time to benefit from the power of compounding and market cycles.
Here's a comparison of how long a Rs 5,000 monthly SIP and a Rs 1 lakh lumpsum investment could take to build a corpus of Rs 20 lakh.
Backed by India's long-term economic growth and the power of compounding, building a Rs 1 crore corpus through a Systematic Investment Plan (SIP) in equity mutual funds is well within reach for disciplined investors.