The Fastest Route To Becoming A Crorepati

Suppose your age is 25 years and you want to become a crorepati by 35, you have 10 years to achieve your goal.

- Adhil Shetty

Who doesn’t want a lot of money in the bank? It’s a desirable financial state, and it allows you to fulfill your heart’s desires easily. However, unless you’re winning the lottery or inheriting a big sum, creating your first crore isn’t easy. As the saying goes, you need money to create more money. If you save regularly and invest in the right securities in a disciplined manner over the long term, the power of compounded growth will help your money grow rapidly, and help you realize the dream of becoming a crorepati.

So what exactly do you need to do to become a crorepati? Here are a few points to keep in mind. Wealth is best created through careful planning and investing. In the absence of a plan, with your money left to chance, you’re unlikely to achieve your lofty objective. A good investment plan helps you identify a worthy goal, a timeline, and costs. It also helps you assess your own risk appetite. Let’s understand this with the example below.

Suppose your age is 25 years and you want to become a crorepati by 35, you have 10 years to achieve your goal. Therefore you need to be aware of your investment options and how you can break down your goal into smaller, achievable steps. Your variables here are a) monthly investment, b) expected ROI, and c) time span. You can tinker with them to control how and when you want to reach your goal.

Calibrating your variables