How not buying an iPhone 6s can make you a millionaire ?

The cost of iPhone 6s in India is around Rs 50000. That is not an affordable option for the middle class and lower class people living in India and around the globe.Some people who are rich can afford to buy it but I would suggest not to buy an iPhone 6s.   

As the title of the post says that you can become a millionaire by not buying an iPhone 6s.
I will teach you how to become a millionaire by a small sum of Rs 50000.

Instead of using the money to buy iPhone 6s we can invest it in mutual funds.
Mutual funds have given compounded returns of 15% - 25% in the past 5 years.

Here are some of the mutual funds you can invest in

1. DSP-BR Micro Cap Fund
2. SBI Magnum Midcap Fund
3. Reliance Small Cap Fund 
4. ICICI Pru MidCap Fund
5. Birla Sun Life MNC Fund

All this funds have given returns of more than 20% compounded over period of 5 years.

If we compound Rs 50000 at 17% (to be on safer side) for 20 years.

We will get Rs 11,55,280 after 20 years.