How to be a crorepati when you retire by investing in recurring fixed deposits earn huge money through recurring fixed deposits

Can I be a crorepathi when i retire?How to get a huge lumpsum amount when you retire?This would be the question that every person would be asking himself when he starts working.He would be wondering how much he should save to provide for the future.

Here we are using the compounding effect of money that will help you to grow your investment from 12 lakh to 1 crore!

This is how it works

Suppose you are 25 year old having a salary of 50000 per month.You decide to save 10000 rs each month and put it in a recurring fixed deposit which give a return of minimum 8.75%.Since recurring fixed deposit is only for a maximum tenure of 10 years you will be able to invest for only 10 years.So at the end of 10 year 10,000 every month will give a maturity amount of around 18.5 lakh

Now with this 18.5 lakh at the time of maturity,you put this money in an annuity deposit scheme for 10 years.Here you pay a lumpsum amount of 18.5 lakh in the beginning and you get the return monthly.The money you will get monthly will be around 22000 Rs.Now you invest this 22000 which you get monthly into another recurring deposit for 10 years.This will give a maturity amount of around 43 lakh.

Now with this 43 lakh Rs,invest again in an annuity deposit scheme for 10 years.Now you will get a monthly return of around 53000 Rs.Now invest this 53000 into another 10 year recurring fixed deposit.Now at the end of maturity you get around 1 crore!

That is by investing just 10000 per month for 10 years,ie 12 lakh Rs,you will receive 1 crore Rs at the end of 30 years!Isnt it wonderful!Start investing early for huge returns!

Please comment if you got any queries.