No One Can Stop You To Become A Millionaire/Crorepati, You Just Need To Do This...

 

Who does not want to become a Crorepati/Millionaire?

Someone said very rightly that if you are born poor, then it is not your fault. But, if you die poor, then it is definitely your fault.

Some people even say that money is not everything in life. But the people who say this have enough wealth.

So, we learnt here that, if you can earn enough in your early life, then you can spend your rest of life with enough wealth and leisure.

Becoming rich quickly is not an easy task and often requires a combination of hard work, smart decisions, and a little bit of luck.

Today I would say you that you must spend some amount in an Investment Product i,e Mutual Funds to become a Crorepati.

Investing in mutual funds in a disciplined approach every month is called Systematic Investment planning (SIP).

How to be a Crorepati with minimal investment like 500 rupees per month?

Let's say your age is 18 years and you are in your college doing graduation. I would suggest you that you ask 500 rupees extra to your father every month.

In any Mutual fund, you should at least expect 12% of return. If you diligently start investing only 500 rupees every month starting at the age of 18 for next 40 years then, you would invest totally 240000 rupees. But, do you know how much it would have become? You would get at least 59,41,210 rupees total with estimated returns as 57,01,210 rupees.

Let say you got 14% return, then your total 2.4 Lakhs would become total 1,13,07,592 rupees and the total return is over 1 crore 10 Lakhs 67 thousand rupees. WOW...👏👏👏👏👏👏👌👍

And If you get 15% return, then this 2.4 lakhs rupees will become 1,57,01,878 rupees with total return over 1.5 crores.

See, your 500 rupees which could be something today, may not be of so much of value after 20-30 years, but still it can make you a crorepati.

You Can use this SIP calculator also to do the calculation by yourself 👇👇:

SIP Calculator

 

Another approach as Step Up:

As you know every year the inflation increases with 5-6% in India. Similarly you also get increment in your job as well.

So, If you start investing with 500 at the age of 18 and every year you just need to increase your investment amount to 6% extra.

You need to invest like first year only 500 rupees every month, then 530 rupees every month on 2nd year, 561.8 per month on 3rd year etc..

If you do this way, your total investment amount would be 9,28,572 rupees in 40 years but you will get total 1,00,37,575 rupees  as 91,09,003 as return with 12.1% interest.

See you became a crorepati 👍👏 

Let say, you get 15% return, then your investment amount will be still 9,28,572 but you will get 2,27,05,838 as 2,17,77,267 return in 40 years.

But, here is a catch. Not everyone starts their planning in 18-20 years of age. Let's say you started at 30 years of age and want to invest for 30 years.

In this case your total investment amount as 1,80,000 rupees and your would get 35,04,910 rupees as 33,24,910 returns with 15% rate.

Similarly, if you do a step up of 10% every year, then total investment will be 9,86,964 rupees and you will get total 69,60,617 rupees as 59,73,652 return.

If your mutual fund performs well and fetches you 17% return, then your will get 1,01,48,410 rupees as 91,61,446 rupees return amount.

Here, we saw with just 500 rupees every month, you can become a crorepati. Similarly, if you invest more, you can earn a lot.

There are many SIP calculators and SIP Step Up calculators available online. You can play around to check how much is your target amount and how much you need to invest every month for how many years.

Please note that: Mutual Funds investments are subject to market risks, read all scheme related documents carefully. Past performance is not an indicator for future returns.

Becoming a crorepati (having a net worth of at least Rs. 1 crore) through mutual funds requires a disciplined approach and a long-term investment horizon. Here are some steps you can take to increase your chances of achieving this goal:

Start early: The earlier you start investing in mutual funds, the more time your money has to grow. Even small amounts invested regularly over a long period can accumulate to a substantial amount due to the power of compounding.

Set a goal: Define your investment goal, such as the amount you want to accumulate, the time frame in which you want to achieve it, and the level of risk you are comfortable taking.

Choose the right mutual fund: Research and analyze different mutual funds that match your investment goal, risk profile, and investment horizon. Look for funds with a track record of consistent returns and low expenses.

Invest regularly: Invest a fixed amount regularly, such as monthly or quarterly, through a Systematic Investment Plan (SIP) to benefit from rupee-cost averaging. This strategy involves buying more units of a mutual fund when prices are low and fewer units when prices are high.

Stay invested for the long-term: Investing in mutual funds is a long-term commitment. Stay invested for the recommended period and avoid frequent buying and selling of mutual funds.

Monitor and review your portfolio: Regularly monitor and review your mutual fund portfolio to ensure that it aligns with your investment goals and risk appetite.

It's important to note that there are no shortcuts or guarantees to become a crorepati through mutual funds. However, by following these steps and staying disciplined, you can increase your chances of achieving your investment goals.

Happy Investing !!!