Getting wealthy

India
February 19, 2010 7:44am CST
Hi guys! I was reading an article about getting wealthy by investing just a small amount per month. It was written if we invest Rs 1000 per month till 30 years with average rate of return of 20%, the amount we will receive after that will be approx 1.5 crores due to power of compounding, can you beleive that? can it be possible? well if it is I'm going to invest from today. What do you say help me with your suggestions ....
1 person likes this
7 responses
@zandi458 (27952)
• Malaysia
19 Feb 10
Good projection but I am sure the value of money will not be the same anymore as the prices of goods keep on escalating. But it is not a bad idea. Maybe there are other good investment where you can reap good and faster return.
• India
21 Feb 10
Hi ..Please explain what kind of investment give me more returns thanks!
1 person likes this
@zandi458 (27952)
• Malaysia
21 Feb 10
Well, in our country our government has an investment scheme where we are paid high returns and the banks are giving out loans to invest in this government run investment scheme. We only need to pay the loan for the first year and thereafter it is paying by itself. We can only invest maximum of RM200,000. Other than that it is go for properties, as it is by far the best long term investment.
@danitykane (3192)
• Philippines
22 Feb 10
hi Gaurav_Grover, I believe in good investment such as investing your money on reputable and well-known banks but in other form of investment such as online invetsment especially if we are talking about 30 years of agreement is not the thing that I would go and try. I believe on time deposit that banks offer, maybe that is a great option to try. So what kind of investment is that? Happy Lotting!
• India
23 Feb 10
Well Banks provide gauranteed interest for sure but that wud be not more than 7.5 now days, do you think if you open a recurring deposit of Rs 1000 per month it will take you to crore in 30 yrs....
• Singapore
22 Feb 10
It's possible to gain huge earnings from investing. However, there's always risk associated with investing so it's better to invest only when you have spare cash as you would not know if your capital would also be gone if an investment failed.
• India
23 Feb 10
My Friend try SIP find it out on line, you can invest a little amount and it will lead to big..
@rocky17 (181)
• United States
19 Feb 10
well buddy i am guessing that the approximate 20 percent is per year and well if that is so then the plan sounds very reasonable but it is really hard to find any kind of mutual fund that will offer you 20 percent returns a year well we all know about those hyips that offer a whole lot more that that but we also don't know of any hyips that have lasted a few years online. But if you know about a legitimate investment and is very safe and offers returns of 20 percent a year then i say you have a very good idea.
• India
21 Feb 10
Actually i have read about SIP, if you know about this..its about buying the mutual fund every month with small amount and i think equity mutual fund can give even more than 20% in an year and if you invest for long time say for more than 10 years, you will definitely get good returns out of that..
@varron (453)
• Philippines
22 Feb 10
30 years since to be a long way to go, and this is not practical if we cannot guarantee the fact behind this companies. Spending in a month and having your money in 30 years, maybe its better to have your money in the bank, that's assures us well.
@sushie93 (1359)
• France
20 Feb 10
We are not sure that the hyip sites will always still alive after 30 years and 1000 per month during 30 years, it's not a small amount at all xD, only a crazy millionnair will do that lol.
@bobbyrks (37)
• India
20 Feb 10
in internet don't go for long term(time) investment programs they will cheat u any time. so go for short term and high trusted investing programs.there a some forums about investing program, in that forums u can get some good sites to invest money.