Crorepati Calculator: Turn your Rs 15,000 pm into Rs 10.51 cr! Follow this mutual fund SIP formula
Crorepati Calculator: Mutual Fund SIP (Systematic Investment Plan) helps an investor to develop a huge amount with the passage of time - longer the better.
Crorepati Calculator: Mutual Fund SIP (Systematic Investment Plan) helps an investor to develop a huge amount with the passage of time - longer the better. According to the tax and investment experts, what matters most in mutual fund SIP is time. They said that irrespective of the volatility, upside or downside trends, one should continue investing in SIP plan as returns will be calculated on the basis of the average of their NAV (Net Asset Value).
Highlighting the market linked mutual fund SIP trick to earn more money, Mumbai-based tax and investment expert Balwant Jain said, "One needs to remember the 15X15X15 formula. means investing Rs 15,000 per month SIP for 15 years, one can expect to get 15 per cent returns. Doing the calculation, assuming the 15X15X15 formula, we get Rs 1.02 Crore maturity amount after the end of 15 years for investing Rs 15,000 in monthly SIP."
Batting to go deeper in the Mutual Funds SIP investment and thereby get greater returns, Jain went on to add another formula 15X15X30 and said, "If a person starts doing SIP at the beginning of career, one can go for near 30 years of this SIP following 15X15X30 formula. In this mutual funds trick, one will do the same Rs 15,000 monthly SIP for 30 years assuming 15 per cent returns."
Making the calculation assuming the 15X15X30 Mutual Funds SIP formula, Jain said that here, an investor will put up Rs 15,000 in monthly SIP continuously and after 30 years and expect to reap Rs 10.51 Crore as maturity amount. During this period, the investor invests Rs 54 lakh and return climbs up to Rs 9.97 Crore.
Balwant Jain said as far as possible, investors should go for the 15X15X30 Mutual Funds SIP formula. He said, "If we compare the 15X15X15 formula with 15X15X30, we would come to know that one can make one's Rs 1.02 crore after 15 years of Rs 15,000 monthly SIP or Rs 10.51 crore by extending the same SIP for next 15 years."
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Surely, the larger amount makes sense, but investors must decide what they want to as per their own requirements.
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