How to become a millionaire by the age of 40

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Compounding has the potential to grow your savings at a phenomenal pace, making you wealthy over time.


 If you want to become a millionaire  then you need to follow these steps :


Anyone can be a millionaire with a systematic plan of investment and achieve compound interest from the investment.

1) SIP stands for Systematic Investment Plan,
which is a popular investment strategy used by investors. In SIP, the investor invests a fixed amount of money in any investments at regular intervals, such as monthly, quarterly, or annually. The amount of investment can vary depending on the investor's Risk profile and financial goals.

You need to invest in stocks and other areas to get an average return of 25%.
Initial Investment is $10000 and every month $1000 then After 20 years with the magic of compound interest your investment become $11,419,632.46 Below is the chart of the following process of every year's growth of money with compound interest.


How compound interest is calculated?

Compound interest is calculated using the compound interest formula: A = P(1+r/n)^nt. For annual compounding, multiply the initial balance by one plus your annual interest rate raised to the power of the number of time periods (years). This gives a combined figure for principal and compound interest.

Using our interest calculator

Compound Interest calculator


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