Hi Dudes,
How to become a crorepati? I want to make 1 crore?
If this is the question often strike your mind then you are at the right place.
Invest early is the golden mantra for earn a crore.
Wanna know... Check out below.
Akila starts saving when she turns 25 and invests Rs 50,000 every year. Assuming that on this she earns a return of 10% every year, at the end of ten years, Akila has been able to accumulate
Rs 8.76 lakh. Now, she stops investing 50,000 per year after 10 years and does not touch the money
she lets the Rs 8.76 lakh grow and assuming that it continues to earn a return of 10% every year,s he would have been able to accumulate around Rs 95 lakh by the time she turns 60. So the Rs 5 lakh (
Rs 50,000 x 10 years) he had invested in the first ten years has grown to
Rs 95 lakh: even though Akila stopped investing Rs 50,000 every year after the first ten years.
At the age of 35 Kamal starts investing Rs 50,000 every year. He invests this amount every year till he turns 60, i.e. for 25 years. Assuming he also earns a return of 10% per year on his investments. At the end Kamal would have managed to accumulate
Rs 54.1 lakh.
Even after investing Rs 50,000 regularly for 25 years, Kamal has managed to accumulate Rs 54.1 lakh, which is around Rs 41 lakh less in comparison to Akila. Now Akila had invested only Rs 5 lakh over the ten years she invested. In comparison, Kamal over the 25 years has invested
Rs 12.5 lakh (Rs 50,000 x 25 years).
Even by investing two-and-a-half times more than Akila, Kamal has managed to build a corpus which is 43% less. This happened because Akila started investing earlier. This allowed the money to
compound for a greater period of time.
So strongest advice is to begin investing early and set up a regular plan to invest a set amount per month.
