Crorepati Tips: If you dream of becoming a millionaire, but because of the average salary you feel that this dream will never be fulfilled, then remove this thing from your mind right now. If you want, you can also make yourself a millionaire through a government scheme like Public Provident Fund (PPF). Your investment in this government guaranteed scheme remains completely safe because it is not affected by market fluctuations. Even if your monthly salary is Rs 65-70 thousand, you can easily fulfill your dream of becoming a millionaire through this scheme. Technical information.
Such PPF will make you a millionaire
The maximum limit for annual investment in PPF is Rs 1.5 lakh. In such a situation, to become a millionaire you will have to deposit this much money in PPF every year. If calculated on a monthly basis, you will have to invest around Rs 12,500 in PPF every month. The PPF scheme matures in 15 years, but after maturity, you will have to extend the scheme twice in a block of 5 years by continuing the contributions.
In this way you will have to continue investing Rs 1,50,000 annually for 25 years. At present 7.1 percent interest is being given on this scheme. If you do the calculations, you will invest Rs 37,50,000 in 25 years, but you will get Rs 65,58,015 as interest. In this way, after 25 years by combining the invested amount and interest amount, you will get Rs 1,03,08,015 from PPF. In this way you will become a millionaire in 25 years.
This is not a big deal for people with a salary of Rs 65-70 thousand.
Now the question in your mind will be that how will you invest Rs 12,500 every month? So let us tell you that even if your salary is 65-70 thousand rupees, this work is not difficult for you. In such a situation, you will just have to follow the financial rule of 20 percent investment. According to this rule, every person should invest 20 percent of his income under any circumstances. In such a situation, if you earn Rs 65,000 per month then you should invest Rs 13,000 at the rate of 20 percent. But in PPF you have to invest only Rs 12,500 per month, so this task is not very difficult. You can very easily deposit Rs 1.5 lakh annually in this scheme and make yourself a guaranteed millionaire.