The dream of every common man is that there should never be any problem of money in future. Because of money, you are able to take advantage of material comforts. To increase your money you save and invest in all asset classes. However, experts believe that equities, in the long run, give far better returns than other asset classes. The best way to invest in equities is mutual funds. Today we will tell you the 15X15X15 formula related to investing in mutual, which will definitely help you in getting rich.
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What is the 15X15X15 formula?
Tax expert and investment advisor Balwant Jain said that 15X15X15 is a formula to invest in mutual funds. According to this, if a person invests Rs 15,000 in equity mutual funds for 15 years and if he gets a compounded return of 15%, then at the end of the investment you will have Rs 1 crore in your hands. Meaning, where your total investment was Rs 27 lakhs in 15 years, you can get one crore rupees after 15 years including returns.
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Jain says that if we reduce this formula to 15X15X30, that is, double the time of investment and the amount of investment and return on it should be considered as 15% compounded, then the investment of 15,000 per month in mutual funds will be Rs 10 crore after 30 years. The principal amount of investment will be 54 lakh rupees. Jain says that one should not wait for a good time to become rich. When wake up, the dawn is applied in the case of investment. Whatever the market situation, you should start your investment. There is a market cycle, in which it goes down and then rises up. In the short term, traders make profit and loss with this move of the market. But as an investment, you should only look at the duration of your investment. The longer you invest in equity, the greater the benefit of compounding.
