Want to earn 50k extra income every month without any effort and risks?

Want to earn 50k extra income every month without any effort and risks

While every one wants to get best out their hard earned money, not many people know enough expertise and knowledge to increase their monthly income. One of the best ways to grow your with minimum risks is through mutual funds.

if you are urban dwelling youth between the ages of 24-36, you know that 50k per month is minimum amount you need to lead a basic level comfortable life. What if you can get this amount every month without having to compromise your goals and passions?

The answer is through mutual fund investments

So

To draw a sum of Rs 50,000, a person should be clear on time period of investment.

If you are looking for an immediate income, you need to invest around Rs 1 crore to draw an annual income of Rs 6 lakh per year. This is assuming an annual return of six per cent. Equity schemes are recommended to create wealth over a long period. To draw regular income, debt schemes or debt-oriented hybrid schemes are better. These schemes are relatively stable than equity schemes.This type of investment is called lump-sum.

But what if you don’t have 1cr right now to invest ?

Then the best option available for you is SIP. SIP investments can also earn higher long-term returns as compared to lump sum investments. You can still invest a lump sum amount in a debt fund, but SIPs are the way to go when it comes to investing in equity fund.

Why should I invest in SIP?

If we start with an investment of around Rs 5,000 per month. One can opt for either a fixed amount every month or with a long-term plan or with a step-up SIP where monthly contribution increases by a few per cent annually.

In the step-up plan, if one starts with a monthly investment of Rs 5000 and increase it by 10 percent each year –Rs 5500 in the second year, Rs 6050 in the third, and so on. In the final year of 20-year plan, the monthly contribution would rise to Rs 30,500. This may appear a lot today, but in the next 20 years the investor’s income will also rise substantially, along with erosion in the value of currency due to inflation.

Therefore, stepping up has great deal of advantage for an investor to have better results.

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