How To Become A Crorepati?
All of us dream of becoming a Crorepati and spend a lot of time trying to figure out how to do it. There are 5 ways to do it.Inherit it from your family Get married into a wealthy family Win a lottery or contest Become a successful film star, sports star or an entrepreneur Save and Invest As you can see the first 4 options are better left to luck and many other factors beyond our control. But the 5th option is for everyone to pursue. Learn to take control of your financial destiny. It is possible to become a crorepati in your lifetime and it’s not a miracle. InvestmentYogi tells you how.It is dependent upon 3 factors:The Amount Invested Every Month/Year Rate Of Return Time Period The Amount Stays Invested A disciplined approach towards saving and sensible investing choices will take you to your first Mis Sold PPI crore as long as you allow COMPOUNDING to do its magic.If you were to save and invest Rs 64,000 per year (which is slightly more than Rs 5,000 per month) you could become a crorepati in 25 years. The table below shows the numbers. We have put 12% as a reasonable rate of return over a long period of time.Similarly if you invest Rs 10,109 per month for 15 years you could have Rs 1 crores as savings:Let us now take a closer look at the factors which make this happen:1. Amount Invested Every Month/Year:It’s intuitive that the more you are able to save and invest today, the larger your reward will be down the road. However, research shows that even the smallest addition to your savings each month/year can make a big difference in reaching your targeted amount. The power of compounding is almost magical.2.