If you invest at least Rs 100 every day. So you can easily deposit more than Rs 1 crore in the long term. It may seem impossible, but with strong will power it can be possible. Most working people waste around Rs 100 every day in drinking tea, coffee or smoking cigarettes. If you start investing these Rs 100 daily, then in the long run you can accumulate a fund of more than Rs 1 crore.
Money is not easily found in life. Many people earn money throughout their life, but in the end they have nothing left in their hands. If you also feel that you also fall in the category of such people, then you should know the power of saving. Using it properly, if you invest a little every day, you can easily accumulate more than Rs 1 crore in the long run. It may seem impossible, but saving can make it possible.
Save only Rs 100 daily
By saving Rs 100 daily, you will save around Rs 3000 in a month. If you keep investing this money every month in schemes like NPS and mutual funds, then after a few years your money can exceed Rs 1 crore. However, here your age and investment period matter a lot.
If you get a job by the age of 25 and start investing. In this way, by the time you retire, investing Rs 100 daily will become more than Rs 1 crore. Investing Rs 3,000 every month means you will accumulate around Rs 13 lakh in 35 years. During this period, you will get interest of only Rs 1 crore at the rate of 10 percent. After 35 years your total amount will be around Rs 1.25 crore. Under compound interest you also get interest on interest. Suppose you got 10 percent interest i.e. Rs 300 on Rs 3000 in the first month. In this way, by earning interest on interest, you will earn more than Rs 1 crore from interest alone in 35 years.
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