Investment Plan: ₹20 lakh can easily become ₹1 crore, know where and how to invest

Investment Plan: Making money from money is an art. It is very difficult to make a big fund without becoming an expert in it. Many people are casual investors. Sometimes they buy some stocks, sometimes they invest a little money in crypto or any other such investment. Some investments prove to be right, while some have to bear losses. If you deposit money in the bank, then you get a special return on it. Still, by doing this, many people save Rs 20 lakh by the age of 30-32.

But, the real question that arises after this is how to convert this 20 lakh rupees into 1 crore. This question is also important because at this stage of age, the burden of responsibilities starts increasing. Such as marriage, wife-children and taking care of aging parents. Your risk-taking ability also decreases. In such a situation, you need such a long term investment strategy, which can convert your 20 lakhs into 1 crore in the next 10 years. Let us know how to make an investment plan for this.

How to make a right investment plan?

Adopt a long-term approach: If you need a large sum of money, don't invest just for short-term gains, but focus on long-term growth.

Start a SIP: You should invest regularly in stocks and mutual funds through SIP. This will reduce the risk and give stable returns.

Create an emergency fund: Keep an amount equivalent to the first 6 months of expenses in a separate account, so that in case of an emergency you do not have to sell your investments at a loss.

Diversification: Diversify your portfolio, i.e. invest in gold, bonds and real estate instead of just limiting yourself to stocks and crypto.

How ₹20 lakh will become ₹1 crore

If you get an average return of 12-15% per annum on your investments, then your ₹20 lakh can directly turn into ₹1 crore in the next 9-10 years. Let's understand this in a better way:

At 10% annual return