Understand the 15*15*15 rule in a mutual fund — the secret of becoming crorepati

Who doesn’t dream of becoming a Crorepati? Almost every one of us does. Though it sounds impossible to be one, with the right efforts and moves, one can embrace this dream into reality. Apart from working hard, there is one more way to achieve this, i.e., investing in mutual funds. Now you must be wondering why many people invest in mutual funds, but they are not crorepati. So, by following the 15*15*15 rule in mutual funds, you can easily become one. Let us find out how.

What is the 15*15*15 rule?

If you are an investor or are interested in gaining high returns, then you must try the 15*15*15 rule. The rule states that investing Rs 15,000 every month for a duration of 15 years in a stock that can offer 15% interest annually will generate Rs 1,00,27,601. In this scheme, you will earn Rs 73 lakhs on an investment of Rs 27 lakhs. The rule is based on the principles of compounding. So if you are committed to your stock for a long period, you can easily become crorepati.

What is compounding?

Compounding is used widely in mutual funds. A process that involves making a small investment on a regular basis for a long period is known as compounding. It is considered the backbone of mutual funds plans. People can easily become crorepati through the technique of compounding. You should start investing early to gain proper advantages from compounding. Time commitment is key in gaining returns from mutual fund investments.

How can I be a crorepati quickly?

Below are some of the tips mentioned that can help you in being a crorepati. It is as follows:

● Set your financial goals:

Before starting your investment, you should have proper financial goals in your mind. It can help you in choosing accurate investment options.

● Choose a financial planner:

You should have a financial planner that can help you with investments. They can guide you with the investment path and help you in becoming a crorepati.

● Manage your expenses:

If you want to be a crorepati, then start saving. Yes! You heard right; by managing your expenses properly, you can be rich and successful over a period.

● Stay focused and disciplined:

Start making investments and saving money to meet your goals. So being rich and successful requires focus and discipline.

● Start choosing the right investment schemes for your financial goals.

Conclusion

There are many types of mutual fund schemes available in the market. So if you want to invest your money, then the 15*15*15 rule can help you in making money. You must stay committed to the fund for a long time to gain high returns. In addition, you can also consult a professional for advice related to the fund investments.