mutual fund sip
There are many experts in the world of personal finance who keep devising some formulas to make investing easier. By following these formulas you can simplify your investment journey. One such formula is 15x15x15. By following this formula you can create a big fund in a short time. If you have turned 40 and have not yet started retirement planning, then you can work on this formula. Let us know what you have to do in this.
What is the formula of 15x15x15?
In the formula of 15x15x15, you will have to do SIP of Rs 15,000 every month for 15 years in a mutual fund giving 15% average return. If you do SIP with this formula, you will become a millionaire even before retirement. With this formula you will deposit Rs 1.01 crore in just 15 years. With this money you can buy a house or keep it for your retirement fund.
If you continue for 20 years, how much will you accumulate?
If you continue this investment for 20 years instead of 15, then you will have a fund of Rs 2.27 crore. Suppose you start this investment at the age of 40, then at the age of 60 i.e. at the time of retirement, you will have a fund of Rs 2.27 crore. Keep in mind that the younger the retirement planning is started, the bigger the fund can be created. If you start this investment at the age of 25, then at the age of 45 you will have accumulated Rs 2.27 crore and you can live a luxurious life.
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