Investment
Who does not want to be rich. Everyone wants to be rich. But remember that there is no short-cut to become rich. For this you need hard work, dedication, patience and knowledge. Increase your income sources, reduce expenses and you can prepare a big fund by investing the rupee in a good investment option. To make your investment successful, you can also follow some formulas of personal finance. One such is the formula of 15x15x15. By using it, you can prepare a big fund.
What is 15x15x15 formula?
In the formula of 15x15x15, you will have to do a 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.
The longer the investment, the bigger the fund
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. In this way you will easily become rich.
(Disclaimer: This news is only for information. Be sure to consult your financial advisor before investing.)
Latest business news
