Every Mutual Fund is subject to market risk and has its ups and downs that affects you directly. However, if you do it right, then you can take advantage of this facility and become a crorepati. In this article, we will see what is the 15X15X15 rule in Mutual Funds investment and how you can use it to pile up a crore or more for yourself.
What is the 15X15X15 Rule in Mutual Funds Investment?
The 15X15X15 Rule in Mutual Funds Investment is more like a retirement plan for people who want to have a secure and stress-free retirement time.
According to the rule, you need to invest 15,000 every month for 15 years at an interest rate of 15% to get an expected return of just a little more than 1 crore post maturity.
However, if you are someone who would want to have more money on a monthly basis post retirement, you can also choose to raise the monthly amount that goes in the SIP to whatever you like.
What are the alternatives?
If you do not have this much money at the moment, you can even start with Rs. 500 a month. The point is to start investing as early as possible and as much as possible.
Let us say you start with Rs. 500, you can eventually raise this number with time when you are able to afford it.
Conclusion
The whole point of this conversation is to start investing money in good schemes at your earliest so that your old age can go without any kind of financial pain.
If you find Mutual Funds to be a great investment plan, then go for it. If you think there is something else in the market that suits your investment needs, then do not hesitate to opt for it. The only thing is to ensure you have good research before you jump on to anything.
Make sure to share this article with your peers who need to kickstart on investing. Also, if you have better suggestions that will help smoothen the investment process for the beginners, please put them down in the comment section given below.
