50 thousand salary… 50 thousand side income, you will not touch the salary… know how?

New Delhi: If you are told that you can earn the same amount every month as your salary, then you will be curious to know how this is possible? Also, if you are told that this is easy, and you can achieve this goal by saving from the salary you are getting now, then you will not believe it.

Most people will feel that this is just a matter of saying, it has nothing to do with reality. But this is possible, because a special formula works behind it. If you are in a private job, then it is very important for you to understand this mathematics.

This formula for people with 50 thousand salary…
For example, whatever your salary is, you can earn separately equal to that. If your monthly salary is Rs 50,000, and you want to earn Rs 50,000 separately every month, then for this you will have to save at least 30 percent of your salary every month.

That is, a person earning Rs 50,000 per month will have to save 30 percent of his salary, which comes to Rs 15,000 per month. Now invest this money in mutual funds through Systematic Investment Plan. Because here there is a hope of getting better returns. According to the SIP calculator, if an investor does SIP of Rs 15,000 every month, then in 10 years, at a return of 15 percent, he will get around Rs 41,79,859.

Let us understand this in a simpler way, if you invest Rs 15,000 in SIP every month, after 5 years this amount will become around Rs 13.5 lakh. If the investor deposits money in the same way for the next three years, then after 8 years the deposit will increase to about 28 lakh rupees, and in 10 years the amount will increase to Rs 41,79,859.

Increase investment as salary increases…
This is an estimate based only on the initial salary. Most people’s salary doubles in 7 to 8 years. If the salary increases by 10 percent annually, then the salary of a person earning Rs 50,000 per month will exceed Rs 1 lakh in 8 years. If the investor increases the investment amount along with the increase in salary, then in the 10th year, Rs 35,369 will start getting saved from his salary every month.

That is, if a person earning Rs 50,000 starts SIP with Rs 15,000 per month and increases it by 10 percent annually, then in the 10th year the investor’s amount will increase to Rs 35,000. According to this, in 10 years, at 15% annual return, the total amount will be Rs 59,36,129. If this trend continues for 15 years, then the total amount will be Rs 1,66,49,992. Now you can understand how big an amount you can save in 10 to 15 years by saving 30% of your salary every month.

With this formula, when you invest 30% of your salary for 10 years, you will have around Rs 60 lakh. Whereas in 15 years it will become Rs 1.66 crore. Now imagine that by depositing this amount directly in the bank as fixed deposit, you will get interest of more than Rs 1 lakh per month. That is, you will start earning income equal to the salary from this route.

Apart from this, if the salary increases more, then the savings will also be more, which you can invest elsewhere. Like in stock market, PPF, gold bond, real estate and short term fund. When you count the returns from these places after 10 to 15 years, you will not touch your salary because you will start earning the same amount through investments.

Let us tell you, interest is always more dear to the investor than the principal. But interest will be available only when you invest. The income of employed people increases gradually. Therefore, in today’s era, SIP is a great option, through which you can create a big fund by making small investments in the long term.

Coordination between income and expenditure is necessary
However, it is a bit difficult to invest by saving 30 percent of the salary every month. But when you balance between income and expenditure, there will be no problems. In order to save 30 percent of the salary in the beginning, it is necessary to first curb unnecessary expenditure. How will this be possible?

According to an estimate, the salaried class wastes 10 percent of its income every month, which you can easily save. Apart from this, if you have a credit card, then avoid using it recklessly. Reduce travelling, eating out, buying expensive gadgets. Also, do not buy things that you do not need just because of the offer. This way you can easily save 30% of your salary.