Nowadays everyone wants to become millionaires. There are some great options in the market where you can definitely make a millionaire by investing. At present, the dream of becoming a millionaire can be realized by investing in a mutual fund, stock market, post office and some schemes of bank.

While doing financial planning, investing only after getting the correct information of all the options should be invested. Apart from this, it is also beneficial to seek advice from your financial advisor before investing. According to Financial Advisors, if a person invests Rs 5,000 to Rs 10,000 per month, he can achieve the target of the millionaire. How to invest in mutual funds, stock markets, post offices and banks can become millionaires. Let’s get it.

Targets can be achieved by investing Rs 5,000 each month

Every person can become a millionaire by investing 5,000 rupees in a mutual fund (MF) every month. Suppose you are 30 years old and for the next 27 years, you have to invest 5,000 rupees in a mutual fund every month. In the long term, investing in mutual funds gets an average return of 12% annually. In such a situation, at the age of 57, you have a fund of more than Rs. 1 crore. According to statistics, in the last 10 years, some schemes of mutual funds have given 20% returns. So investing in a mutual fund can be a better option.

Millionaire’s journey easier than investing in the stock market

There are many kinds of misconceptions about the stock market in the general public. Although the heavy market is often seen in the stock market, but if you are looking to invest for the long term, then the stock market can also help to increase your fund to multiples. If things happen from 2008 to 2018, some shares have given returns of up to 600 times. However, the first prerequisite for investing in the stock market is that you invest only with the opinion of your financial advisor. The financial advisor can give you the correct information about the ups and downs in the market. Incorrect investment can cost you a lot.

Post Office Schemes dream of becoming millionaires

Investing in post office can also become millionaires. All you need to know about the right scheme. The post office recurring deposit (RD) is getting 7.30 per cent interest at this time. In such a way, you can become a millionaire quickly by investing 10,000 rupees. Under this you have to invest up to 27 years. After 27 years, you will have a fund of about Rs 1 crore.

Plan to become millionaires in bank

At present, banks are getting an interest of 7.8 per cent on average of 5 years FD. At this interest rate, if you start investing 10,000 rupees a month, the bank can also make you a millionaire. For this, you have to invest up to 27 years.

Disclaimer: Be sure to consult your financial advisor before investing. Investors make investment decisions based on their own discretion.

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