North India Statesman
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Investment suggestions: Every person is worried about their expenses after leaving the job or after retirement. If you are around 40 years of age, you can easily earn Rs 1 crore from mutual funds in the next 15 years. This will prepare a good fund before your retirement. Then you will be able to meet your needs after retirement. Let us know what is the formula to make someone a millionaire in just 15 years through mutual funds.
What is 15x15x15 formula?
The 15x15x15 formula is considered the best for preparing funds for retirement. This formula contains 15 times 3. Every 15 has a different meaning. The first 15 shows you the investment amount i.e. 15 thousand rupees. The second shows 15 years i.e. 15 years. The last 15 means interest, ie 15 percent interest.
What do you have to do to become a millionaire?
Under this easy formula, you have to invest Rs 15,000 every month in mutual funds for 15 years. That is, you will have to do a SIP mutual fund of Rs 15,000 every month for 15 years, on which an average of 15% return will be available. With this formula, you will deposit Rs 1 crore in just 15 years.
Under this formula, if you invest 15 thousand rupees in SIP every month, you should get 15% annual interest. During this time you will deposit only 27 lakh rupees. 73 lakhs on your deposit amount
You will get interest of rupee. In this way, you will have Rs 1,00,27,601 in 15 years.
A fund of Rs 2.27 crore will be ready in 20 years.
If you start investing with this formula at the age of 40, you will be able to earn double the amount in the next 20 years. At the time of retirement, ie at the age of 60, you will have a fund of Rs 2.27 crore.
Before investing to you
It should be decided in which fund to invest. All types of funds are good for investment, but you should choose the same fund that is right for you.
An investor should first prepare his investment portfolio. It is important to understand asset allocation so that you know where to invest. There should be a mixture of all categories in your investment.
Your portfolio should be diverse for investment. This means that you should include several asset classes in your portfolio. If you invest in different funds, you will get different benefits.
Instead of investing outright money in mutual funds, you should invest through a systematic investment plan (SIP). Through SIP, you invest a certain amount every month.
You should proceed with a long -term investment plan. You should invest at least 5 years of duration. Stock market fluctuations in the short term may have a greater impact on your investment, while this risk decreases in the long term.
Don’t forget to invest after investment. Keep an eye on the performance of the scheme or mutual fund in which you have invested. For such information, mutual funds publish monthly and quarterly fact sheets and newsletters, which contain information related to their performance.
The stock market is full of risks. In such a situation, the lower your age, the more risky investment you can invest, which can give you better returns. It is not appropriate to close investment in between.
