Who doesn’t want to become a millionaire as soon as possible? If you also want to become a millionaire, then today we are going to tell you a great formula. This is a method in which you do not need to do any kind of business. You just have to invest under a special plan. After this, your money will start making big money.
We are talking about Systematic Investment Plan (SIP), in which the more amount you invest, the more profit you can get. Through SIP, you will be able to deposit a large amount by investing in mutual funds. Mutual funds can be invested in small cap, mid cap and large cap. Suppose if you invest in large cap, then the annual interest rate can be 12 to 15 percent or even more. At the same time, due to getting compounding interest, money also grows rapidly in it. However, you can make a good amount only by investing in a certain way.
This formula will make you a millionaire
You can make a lot of money by investing with a fixed plan over time. One such formula is 15X15X15, under which you have to invest Rs 15,000 every month in any mutual fund for 15 years. If you are getting an annual return of 15 percent during this period, then after 15 years this amount will become crores of rupees. Getting an annual return of 15 percent through SIP is not a big deal.
How to earn crores of rupees?
If you invest in SIP by adopting the formula of 15X15X15, then the total investment in 15 years will be Rs 27,00,000 at the rate of Rs 15,000 per month. Now if 15% annual interest is added to this amount, then the total amount in 15 years will be Rs 74,52,946. In this way, the combined amount of the invested amount and the interest will become Rs 1,01,52,946 in 15 years. It is important to keep in mind that the interest can increase or decrease.
Know this thing about returns
There is no guarantee of returns in mutual funds. Investors in mutual funds can get 15 to 20 percent returns in the long term. However, experts believe that the average return is 12 to 15 percent. According to this, if you follow the 15X15X15 formula, you too can become a millionaire, but you should select the right fund.
(Note- Before making any investment in the stock market, please seek the help of a financial advisor.)