The cost of iPhone 6s in India is around Rs 50000. That is not an affordable option for the middle class and lower class people living in India and around the globe.Some people who are rich can afford to buy it but I would suggest not to buy an iPhone 6s.
As the title of the post says that you can become a millionaire by not buying an iPhone 6s.
I will teach you how to become a millionaire by a small sum of Rs 50000.
Instead of using the money to buy iPhone 6s we can invest it in mutual funds.
Mutual funds have given compounded returns of 15% - 25% in the past 5 years.
Here are some of the mutual funds you can invest in
As the title of the post says that you can become a millionaire by not buying an iPhone 6s.
I will teach you how to become a millionaire by a small sum of Rs 50000.
Instead of using the money to buy iPhone 6s we can invest it in mutual funds.
Mutual funds have given compounded returns of 15% - 25% in the past 5 years.
Here are some of the mutual funds you can invest in
- DSP-BR Micro Cap Fund
- SBI Magnum Midcap Fund
- Reliance Small Cap Fund
- ICICI Pru MidCap Fund
- Birla Sun Life MNC Fund
All this funds have given returns of more than 20% compounded over period of 5 years.
If we compound Rs 50000 at 17% (to be on safer side) for 20 years.
We will get Rs 11,55,280 after 20 years.
All this is because of the best gift to the mankind that is Compound Interest. The 8th wonder of the world.
If we can make Rs 1.15 million in 20 years by starting with Rs 50000.
Then just think how much you can make by starting with higher amount.
Sky is the limit.
Some examples who have made it big this way.
 |
| Warren Buffett |
Ask Warren Buffett for the single most powerful factor behind his investing success, and he’d respond “compound interest” — without skipping a beat.
He’s been preaching this for six decades, and it’s made him a billionaire. And it’s something every investor can copy.
I have started with my investment in mutual funds.
I advice you to start as soon as you can.
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