Investment Tips: Investing even Rs 100 daily will make you a millionaire, just keep this in mind.

If you want to become financially independent, you will have to develop the habit of saving. It is not that you need a huge capital to save or invest. You can do this even with as little as Rs 100. You just have to make this investment daily. This investment can make you a millionaire.

Start investing from an early age
If you are investing for the long term, then you can try equity mutual funds. But, you should start this investment by the age of 30. All you have to do is take a Systematic Investment Plan (SIP) from an asset management company. One should keep investing money in this till retirement.
Will become a millionaire in the long run

If you invest Rs 100 daily in mutual funds through SIP, the total amount invested in 30 years will be Rs 10.80 lakh. On this, at an average of 15% per annum, your return in three decades will be Rs 2 crore.

Will become rich by increasing investment
If you increase the SIP amount even by 10 percent, the returns will increase manifold in the long run. This is called a step-up strategy, that is, taking one step forward in terms of investment. There is an average salary increase of 9 percent every year in the country. In such a situation, increasing the investment amount should not be a big deal for you as an investor.

What is a step-up strategy?
Suppose you have started investing with Rs 3000 per month. In this, under the step-up strategy, the investment amount will have to be increased by Rs 300 every month from next year. If you do this, the total investment in three countries will be Rs 59.22 lakh.

Now talking about returns, at the time of maturity you will get Rs 4.50 crore. In this, the return alone will be more than Rs 3 crore 91 lakh.

If you want to make your retirement even better, then keep investing equally in retirement plans like the National Pension Scheme along with SIP.

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