SIP: How to become a crorepati in 15 years through 15x15x15 formula
In SIP, you get the benefit of compound interest. This results in wealth creation fast. If you want to become a crorepati in a short time with the help of SIP, the formula of 15X15X15 can be helpful. Know the details
SIP: If you are an aggressive investor and want to create huge corpus, mutual funds can be a good option for you. If you invest in them for a longer period through SIP, you can also make yourself a crorepati. Due to being market linked, there is no guaranteed return in SIP. Its returns are based on the market.
But in the long term, it can also give returns of up to 15 and 20 per cent.
Its average return is considered to be 12 per cent.
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Apart from this, you get the benefit of compound interest.
With this, wealth creation happens very fast.
If you want to become a crorepati in a short time with the help of SIP, the formula of 15X15X15 can be very helpful for you.
How can you become a crorepati through 15X15X15 formula?
According to the 15X15X15 formula, you have to invest Rs 15,000 every month for 15 years in a scheme in which, you can get the interest at the rate of 15 per cent.
Here, we are talking about investing in SIP because getting a 15 per cent return in the long term in SIP is not a big deal.
If you invest in SIP by adopting the formula of 15X15X15, then at the rate of Rs 15,000 per month, you will invest a total of Rs 27,00,000 in 15 years.
But if you get the interest on it at the rate of 15 per cent, then it will translate into Rs 74,52,946.
In this way, by combining the invested amount and interest, a fund of Rs 1,01,52,946 will be prepared in 15 years.
The sooner you start investing, the sooner you will become rich
The sooner you start investing, the sooner you can become a crorepati.
If you invest according to the formula of 15X15X15 at the age of 25, then you can become a crorepati by the age of 40.
But for this, your income should be around Rs 80,000 per month.
According to financial rules, 20 per cent of the income should be saved and invested every month.
If your monthly income is Rs 80,000, then you need to save Rs 16,000, or 20 per cent of your income every month.
In such a situation, you can easily invest Rs 15,000 a month in SIP.
(Disclaimer: SIP investments are subject to market risks. Do your own research or consult your advisor before investing.)