How to become a crorepati with regular income in 10-20 years

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how to become a crorepati with a normal incomeMany people are interested to know is it really possible to retire as crorepati or how much time it will take to earn or make 1 crore rupee? The answer is not a straight forward actually and at the same time you have think wisely and consider many things. Now if you are a salaried person with a fixed income then it will take a quite time to accumulate that amount of money with a solid discipline of savings. Besides that there are few shortcuts available which may help you to be a crorepati with no-time. Like winning a lottery, winning KBC (Kaun Banega Crorepati) or if your father left such amount. But very few people are coming in this zone and for rest of them we will discover how can we plan a savings plus investment to make our grow maximum in future to make us crorepati.


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how to make 1 crore rupees in 10-20 years 

First of all we should think about the value of money as today’s date. The value of 1 crore may not be the same after 20-25 years. Anyway we will consider 3 terms and check how much we have to save to make 1 crore. Here you can check out the tabular chart with rate of interest from your investment vs target year and according to that how much money you have to save per month to reach your target of 1 crore.

Rate of Interest
10 years
15 years
20 years
8%
55000/month
29000/month
17000/month
10%
49000/month
24000/month
13000/month
12%
44000/month
20000/month
10000/month
15%
37000/month
15000/month
7000/month


So from this chart it is very clear that someone have to save very disciplined way. And if you target for a longer duration then you can save smoothly, unless you have to save very aggressively. Just think if you want to be crorepati in 10 years then as per the chart you have to save monthly 37,000 with an expected return of 15%.  Now in current market there is no financial product available which can return such high interest rates in 10 years range continuously. If you are very lucky then you may get from equity or property only.

But we can expect an interest from 8-10% range from our regular investment options for a long period of time like 20 years or more than that. In such a case if you earn monthly around 50,000 then you may target for 20 year duration to make 1 crore. In that case you have to assume that your salary will appreciate year by year to fight inflation and protect your savings. 


This is not an accurate calculation of return. Just explain the possibility this figures have used. But to find your target amount you have to start with your calculation as per your salary or monthly income and off-course with available market investment options. There are few schemes or high return tools available in market which may be very risky for a long time. So its better to adopt the slow by steady approach.

The best way is to invest in equity via SIP for a long tenure which has a potential to return more than 15%if you check out track records of few SIPs. Besides that PPF is one of the best option. But don’t forget to do a pure term insurance of 1 crore as if you die suddenly your family can live your dreams of making 1 crore.
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2 COMMENTS

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