You can become a millionaire by adopting the 15*15*15 formula. At the same time, you can retire only at the age of 45 and after that you can get a pension of Rs 50 thousand every month. Let’s know how this will work.
Pension Calculation: Whenever it comes to strong returns, the only thought that comes to everyone’s mind is to invest in the stock market. However, the risk there is also very high. In such a situation, you can invest money in Mutual Fund, which will give you strong profits. SIP facility is available in every mutual fund, which makes investing very easy. You can become a millionaire by adopting the 15*15*15 formula. At the same time, you can retire only by the age of 45 and after that you can get a pension of Rs 50 thousand every month. Let’s know how this will work.
What is the 15*15*15 formula?
15*15*15 formula means investing 15000 rupees every month for 15 years at a rate of 15%. No one will offer a guaranteed rate of 15%, but in mutual funds you can get an average rate of 15% in the long term. If you do this, you can accumulate a corpus of Rs 1 crore in 15 years, i.e. you can become a millionaire. All this will be possible with the power of compounding.
What is the power of compounding?
Power of compounding means the compounding interest you get on your investment. Under this, you not only get interest on the principal amount, but also on the interest earned on the principal amount in the next months. If we look at the current situation, suppose you invested 15 thousand rupees in the month of January. On this, you will get an interest of about 187 rupees at the rate of 15 percent. Next month, if you deposit 15 thousand rupees again, then now your total investment becomes 30 thousand, but you will get interest on 30,187 rupees, i.e. interest on interest as well. This is the power of compounding.
Mutual funds can give 15% return
There are many ups and downs in the stock market, but it has been seen that an average return of 15 percent can be achieved in the long term. It has been seen in the stock market that despite the severe recession, there has been a great recovery in the long term. You just have to keep reviewing your mutual fund investment from time to time, so that you can know whether you are getting proper interest on the money you have invested or not. If you feel that the interest is low or will remain low, then you can change your strategy.
How much will be the profit, understand the calculation
Suppose you invest 15 thousand rupees every month. In such a situation, you will invest about 27 lakh rupees in 15 years. On the other hand, if you get an average interest of 15 percent on this money in 15 years, then you will get an interest of Rs 73 lakh. That is, the total corpus of your fund will be Rs 1,00,27,601. In this way, your money will turn into 1 crore rupees in no time.
Retire at 45, pension of 50 thousand
If you are 30 years old and you start investing from then, then you can become a millionaire at the age of just 45 years. If you have 1 crore rupees, then you can invest it somewhere, on which you will easily get 6-7 percent interest. If you get even 6 percent interest, then you will get 6 lakh rupees annually, that is, you can get a pension of 50 thousand rupees every month.
