Crorepati Formula: If you want to become a millionaire in a short time then you will have to adopt the formula of 12-15-20. This formula will make you a millionaire in just 15 years. Know here what you have to do.
Crorepati Formula: There was a time when becoming a millionaire seemed very difficult, but in today’s time it is not so difficult. The reason for this is that today you have many types of resources available to give you better returns on investment. Mutual Funds is also one such scheme. You can invest in this market linked scheme in both lump sum or SIP mode. But here we will tell you about SIP. This is such a scheme, in which you can make yourself a millionaire by investing an amount of Rs 2000 to 5000 every month.
In long term SIP, you get the benefit of rupee cost averaging, in such a situation the market risk is reduced. Due to compounding, long term SIP adds money faster. In the long run, the interest received in SIP is much better than any other scheme. The average return in SIP is considered to be 12 percent, but sometimes it is even more. In such a situation, your money increases very fast. But if you want to become a millionaire in a short time through SIP, then you will have to invest a little more money. Know here the investment formula that can make you a millionaire in just 15 years.
Millionaire will make formula of 12-15-20
If you want to become a millionaire in a short time then you will have to adopt the formula of 12-15-20. In the formula of 12-15-20, 12 means an average return of 12%, 15 means investment will have to be made for 15 years and 20 means Rs 20,000 will have to be invested every month. With this formula, if you start investing at the age of 30, you can make yourself a millionaire by the age of 45.
This is how you will become a millionaire
If you deposit Rs 20,000 every month in mutual funds through SIP, you will invest a total of Rs 36,00,000 in 15 years. According to SIP Calculator, you will get Rs 64,91,520 as interest at the rate of 12 percent. In this way, after 15 years you will become the owner of a total of Rs 1,00,91,520. Whereas if the return is 15 percent then you will be the owner of Rs 1,35,37,262.
How to get Rs 20,000 for investment?
If your salary is around Rs 1,00,000 then you can easily withdraw Rs 20,000 per month for investment. Financial rules say that every person should invest at least 20 percent of his income. If you earn Rs 1,00,000 per month, then 20 percent of it will be Rs 20,000. In such a situation, you can easily withdraw this amount for investment.
Also Read-
- ITR Form 16: What is the use of Form 16, what information is recorded in Part A and B? know about work
- Car Loan Interest Rate 2024: These banks are offering cheapest car loans, check here
- New Visa Rule: Australia made a big change in the visa policy, know what will be the impact on Indian students
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
