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.
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.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Rs 1,500 Monthly SIP for 20 Years vs Rs 15,000 Monthly SIP for 5 Years: Know which one can give you higher returns in long term

FD Rates for Rs 10 lakh investment: Compare SBI, PNB, HDFC, ICICI, and Post Office 5-year fixed deposit returns

LIC Saral Pension Plan: How much should you invest one time to get Rs 64,000 annual pension for life?

SIP Calculation at 12% Annualised Return: Rs 1,000 monthly SIP for 20 years, Rs 4,000 for 5 years or Rs 10,000 for 2 years, which do you think works best?

SBI Senior Citizen FD Rates: Know your maturity amount for investments ranging from Rs 5 lakh to Rs 15 lakh in 1 year, 3-year and 5-year, calculations inside

Gratuity Calculation: What will be your gratuity on Rs 45,000 last-drawn basic salary for 6 years & 9 months of service?
09:58 AM IST