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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
livemint.com / 1 year ago
Explained: Want to quickly accumulate target corpus of Rs 1 crore? Use 8-4-3rule of compounding
compounding, you can steadily grow your savings, potentially doubling or even tripling them over time.
Let’s explore how compounding can accelerate your wealth growth.
Unlike simple interest, which is calculated only on the initial investment, compound interest is earned on both the principal and the interest accumulated over time. This process allows your money to grow exponentially as you earn returns on your past gains.
Best MF to invest
Looking for the best mutual funds to invest? Here are our recommendations.
View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-119693299»>Also Read | Trump tariff scare: 36 mutual funds held 40 crore shares of Tata Motors in February. Which MF do you own?
Rule 8-4-3 of compounding
You can effortlessly grow your wealth by following the 8-4-3 rule of compounding. Here's how it works: Suppose you invest a lump sum of Rs 21,250 every month in an instrument offering a 12% annual return, compounded yearly. In just eight years, your investment would grow to Rs 33.37 lakh.
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This is where the magic of compounding comes into play. The next Rs 33 lakh will take just half the time—only four years. The third Rs 33.33 lakh will accumulate even faster, in just three years. As a result, in 15 years, you can build a corpus of Rs 1 crore.
By the end of the 21st year, your savings will grow to Rs 2.22 crore—doubling your Rs 1 crore in just six years.
By the 22nd year, it will take only one year to accumulate Rs 33 lakh, all thanks to the power of compounding. Keep in mind that this calculation is based on annual compounding,
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