I am 24. How much SIP should I do every month to have a sum of 3 crore at 60? Budget is something low.

Greetings, 

You Are Welcome

Following is an Answer to your Question

As you are 24 currently and need the amount at 60 years so you have 36 years of time to grow your wealth. And here you will find the magic of compounding that mainly depends on time.

Scenario 1..

If the annual return is 15%

Then the SIP amount will be 1800 per month

Here,

Total invested amount- 7,77,000

Total return amount- 3,02,95,000

Total investment value- 3,10,72,000

Scenario 2..

If the annual return is 12%

Then the SIP amount will be 4100 per month

Here,

Total invested amount- 17,71,000

Total return amount- 2,82,89,000

Total investment value- 3,00,60,000

But you have to consider one important thing, that is inflation. As it is also growing at the rate of 6–7% annually. So, try to invest as much as you can to have a great financial condition.

Happy investing !!!!

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