Want to become Crorepati? How

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Want to become a Crorepati

Crorepati means having one crore rupees. Can I save 1 lakh rupees for 100 years? Would it be possible to save or will I be going to leave for next 100 years?

Yes, you can become a crorepati. Next 15 years an you will be a crorepati. How? Just choose one of them as per your financials.

Option 1: Target Amount INR 1,00,00,000 Invested period 15 years Expected annual rate of return 12% Amount to be invested (Annually) INR 225,290 Amount to be invested (Monthly) INR 19,818 Assuming a conservative interest 12% every year consistently. You would then need to invest Rs.239,502 every year or Rs. 21,211 every month for those 15 years. Option 2: Target Amount INR 1,00,00,000 Time taken to reach target amount 26 years Expected annual rate of return 12% Amount to be invested (Annually) INR 52,845 Amount to be invested (Monthly) INR 4649   You can save Rs.60,000 every year and invest the same in an option that gives you 12% annually. This will make you a crorepati in 26 years.

Based on the above, you would have noticed that the more you invest, the faster is your route to becoming a crorepati. And the higher the rate of return on your investments, the faster will be your achievement of the target. You could also keep increasing the amount you save every year to reduce the time to become a crorepati.

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