Investment tips
Personal Finance Tips: Many times we are investing money in the stock market or any other investment option, but do not get good returns. If you follow some personal finance tips, you can earn good profits. You will find many such tips given by wealth managers. One such formula is also 15x15x15. This formula will be useful for you in retirement planning. Let us know what this formula says.
What is 15x15x15 formula?
In the 15x15x15 formula, you will have to do an SIP of Rs 15,000 every month in a mutual fund giving a 15% average return. If you do SIP from this formula, then you will become a millionaire before retirement. With this formula, you will deposit Rs 1.01 crore in 15 years. With this money you can buy a house or keep it for your retirement fund.
If you continue for 20 years, how many will be deposited?
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 large funds can be prepared as the retirement planning is started at the young age. If you start this investment at the age of 25, then at the age of 45 you will deposit Rs 2.27 crore and you can live a great life.
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