personal Many experts of finance continue to suggest various formulas to simplify the investment and one such effective formula is the rule of 15x15x15. This can be especially useful for those who have not yet started working on their retirement plan, especially if they have turned 40.
What is 15x15x15 Formula?
You will have to do SIP of Rs 15,000 a month in a mutual fund where you are getting 15 % returns on an average. You will have to continue this investment for 15 years. This is the formula of 15x15x15. With this formula, you will become a millionaire before retirement. In 15 years, you will deposit a large fund of Rs 1.01 crore. You can use this money as a house buying or as your retirement fund.
How much fund will be made in 20 years
If you continue your investment for 20 years instead of 15 years, then your fund will increase to Rs 2.27 crore. For example, if you start this investment at the age of 40, at the age of 60 (at the time of retirement) you will have a fund of Rs 2.27 crore. It is important to note that the less retirement planning is started at the younger age, the larger the fund can be prepared. If you start this investment at the age of 25, you will deposit Rs 2.27 crore at the age of 45, so that you can live a great life.
(Disclaimer: This article is written only for the purpose of information. Please consult your financial advisor before any type of investment or before taking financial risks. India TV will not be responsible for any kind of risk.)
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