SIP Calculator: The survey has revealed that people withdraw the amount collected through SIP after a certain period of time. Not only this, sometimes they also reduce the SIP amount.
Mutual Fund Calculator: If you also invest keeping your future needs in mind, then the option of SIP can prove to be better for you. By investing systematically, you can achieve your goal in the long run. Yes, if you save Rs 10,000 every month in mutual fund SIP, you can become a millionaire in the next 15 years. For this you have to keep some things in mind-
15 x 15 x 15 rule of mutual funds
You can become a millionaire at the fastest rate through mutual fund investment. Experts say that the 15 x 15 x 15 rule of mutual funds says that an investor can accumulate an amount of Rs 1 crore by investing Rs 15,000 every month for 15 years. Under this rule you can expect at least 15 percent return annually. This is expected to be possible if you invest for at least 15 years or more. However, you can also make this possible by investing Rs 10,000 per month.
Make SIP strategy
How to accumulate Rs 1 crore by investing Rs 10,000 every month in equity mutual funds is a big question. Experts say that people invest in mutual funds through monthly SIP. But, the survey has revealed that people withdraw the amount collected through SIP after a certain time. Not only this, sometimes they also reduce the SIP amount. For this, it is important that you continue SIP of the same amount despite the longer time limit. Investors should increase their monthly SIP as their income increases.
Experts say that if you invest for a long period, you get interest on interest. This is called compounding benefit. To avail compounding benefit in monthly SIP, you can maintain an annual step up of 10 percent.
If an investor invests Rs 10,000 every month for 15 years and maintains the rule of 10 percent annual growth, then according to the mutual fund SIP calculator, a SIP of Rs 10,000 will yield Rs 1,03,11,841 (Rs 1.03 crore). . In this, following the 15 x 15 x 15 rule of mutual funds, the return on SIP is considered to be 15 percent.