Business News / If you want financial freedom in the new year, then you will have to do SIP of this much rupees every month.

Business News: When a young man starts his working life, he gradually starts living the dreams which he has nurtured since childhood. Sometimes you want to go out with friends at night or go on a holiday to a distant city on a weekend. He does everything his mind tells him to do. Amidst all this, many people forget to think about financial freedom. In simple language, financial freedom is that freedom, after achieving which a person does not need to earn money. His expenses and hobbies are covered by it. Let us know a unique way to achieve this.

Does this rule work?

If you have not made a financial goal yet, then this should be kept in mind. The coming inflation may increase your needs, hence it is very important to fulfill the financial goals on time. It is important to decide what you want in life, what you want to buy and how much money you need for it. Formula 30-20-50 may also help. Under this rule, a person invests 20 percent of his earnings and uses the remaining part to meet necessary expenses and hobbies.

Do SIP of this much rupees

Suppose, you are between 25-30 years of age and you see yourself having financial freedom in the next 20 years, then you should start a SIP today. You can invest money in any type of fund. For that you can also contact an advisor. Mutual funds generally give an average return of 12-15 percent. Sometimes they even give returns of 20 percent. If you get a return of 15 percent, then you will have to invest only Rs 10,000 per month to create a fund of Rs 1.5 crore in the next 20 years. If you do this without any gap and get 15% return, then you will get Rs 1 crore 52 lakh after 20 years. This figure is given on an average basis. You can increase or decrease the amount of investment based on your financial goals.