From Lt to Lt Colonel: Your First ₹1 Crore

From Lt to Lt Colonel with Your First ₹1 Crore

Something no one tells you!!

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Basic Pay

₹56,100

The basic salary for a Lieutenant.

Military Service Pay (MSP)

₹15,500

Dearness Allowance (DA)

₹28,050

50% of the basic pay to help with inflation.

* These are minimum assumptions and may vary over time.

"Did you know that with consistent small investments, you can easily reach ₹1 Crore by the time you complete 13 years with less than ₹27,000 monthly investment? Curious? Let’s see how!"

Customize Your Investment Plan
Try changing the monthly SIP, years, or return rate as per your convenience. The power of compounding is truly amazing!

Year-by-Year Growth of Your Investment

Year Total Invested (₹) Interest Earned (₹) Investment Value at Year-End (₹)

How is this possible? The Compounding Formula!

Now, let’s break it down for you. We’re using the basic formula for compound interest that you may have seen in class 7!

                
                    FV = P * [(1 + r/n)^(nt)]
                    Where:
                    FV = Future Value (Your investment value after X years)
                    P = Principal (Your monthly SIP investment)
                    r = Annual Interest Rate (as a decimal)
                    n = Number of times the interest is compounded per year
                    t = Time in years

In simple terms, you’re investing consistently and letting your money grow with time — the longer you invest, the more your money compounds!

Posted on 2024-11-08 20:27:53