With uncertainty in the Indian stock market, there is a hiccup among the people on whether to invest their money or not. Courtesy of the Adani-Hindenburg controversy, India has been witnessing continuous ups and downs in the stock market. And people who are having INR 1 crore are looking for the best and risk-free options to invest their money. People who possess Rs 1 crore are wondering whether investing in Mutual Funds SIP will be an ideal option or not. Few might also be thinking about how to multiply their Rs 1 crore investment in a shorter duration than keeping the money for years in Mutual Funds. So, for those who are looking for answers on how and where to invest their Rs 1 crore, this write-up is certainly for you all. Financial Express reports suggest that it is hard to reach the first Rs 1 crore corpus through mutual fund SIP. Thereafter, the power of compounding works magically to multiply your wealth in a very quick time. So, is there a way to reach the Rs 1 crore goal fast? The answer is yes.
Rs 1 crore investment
For those who prefer investing in Mutual Funds, one obvious way to reach your Rs 1 crore goal is by amping up the SIP amount in a big way. Apart from this, another way would be to wait for the rate of return to increase dramatically. While the first option is in your hand, the second is beyond the control of investors. However, everyone may not be in a position to increase the SIP amount in a big way. So the best way is to increase the SIP amount incrementally, say by 5% or 10% annually. Apart from this, a user on Quora suggested that if people looking to invest a total amount of Rs 1 crore, then they should opt for companies like Volvo, Tata, etc. Meaning, they should invest in a trusted company that ultimately with time it will give them a good and risk-free return. Apart from this, the world is witnessing a surge in AI technology and major companies have been introducing their AI-based tech. Therefore, investing in AI can also yield good results. However, investing in AI might not be risk-free as ChatGPT was recently banned in multiple schools in Australia. OpenAI’s artificial intelligence chat tool was released for public access on November 30, 2022. Its developers have received praise for creating software that can interact “in a conversational way” to user prompts and write responses that sound human, natural, and (for the most part) are factually correct. However, Tesla Founder Elon Musk who has the potential to drive any company's stock up or down recently expressed his concerning views.
On Monday, in response to a retweet of a screenshot of a ChatGPT's answer to a question about a hypothetical scenario involving racial slurs, Musk said, "Concerning." The question was posed by Aaron Sibarium, a journalist at the conservative publication The Washington Free Beacon. "ChatGPT says it is never morally permissible to utter a racial slur—even if doing so is the only way to save millions of people from a nuclear bomb," Sibarium tweeted with the screenshot.
How to make Rs 1 crore through SIP through particular money?
Rs 10,000 SIP: It would take 20 years 1 month to reach Rs 1 crore with Rs 10,000 monthly SIP in a mutual fund scheme. Increasing the SIP amount by 5% annually would let you reach Rs 1 crore 17 years 10 months at 12% interest.
Rs 20,000 SIP: It would take 15 years to reach Rs 1 crore with Rs 20,000 monthly SIP in a mutual fund scheme. Increasing the SIP amount by 5% annually would let you reach Rs 1 crore 13 years 5 months at 12% interest.
Rs 25,000 SIP: It would take 13 years 5 months to reach Rs 1 crore with Rs 25,000 monthly SIP in a mutual fund scheme. Increasing the SIP amount by 5% annually would let you reach Rs 1 crore in 12 years 1 month at 12% interest.
Rs 30,000 SIP: It would take 12 years 4 months to reach Rs 1 crore with Rs 30,000 monthly SIP in a mutual fund scheme. Increasing the SIP amount by 5% annually would let you reach Rs 1 crore in 11 years at 12% interest.
Rs 40,000 SIP: It would take 10 years 6 months to reach Rs 1 crore with Rs 40,000 monthly SIP in a mutual fund scheme. Increasing the SIP amount by 5% annually would let you reach Rs 1 crore in 9 years 6 months at 12% interest.