Can you save Rs.25,000 a month and become a millionaire (Rs.7.7Cr)?
Can. Here we are going to discuss with you how to implement this.
If you have a question in my mind as to why I should do this, The answer is - you spend your future with "economic freedom". But most people are not able to follow this easy path. Why? The following are the main reasons ... No one wants to get rich slow (said Warren Buffet).
The hope that the children will take care of themselves.
- Disappointment at where I can add so much money. Lack of understanding of the Power of Compounding. Despite all this, I'm going to tell you here that you can definitely become a millionaire by doing this. What do you need? Let's see? 1. Discipline - One of the most important. The hope that the children will take care of themselves.
- Disappointment at where I can add so much money. Lack of understanding of the Power of Compounding. Despite all this, I'm going to tell you here that you can definitely become a millionaire by doing this.
What do you need? Let's see?
1. Discipline
One of the most important. Anyone can have the money to invest. But it continued Discipline to do? Surprise if there are two in 100. Make no mistake about it, you're building 225,000 EMIs a month (don't miss the money, but you're right). You need to bring discipline to invest in finished products.
2. 10% additional investment each year.
Year after year, as your salary rises, so should your investment. That is, if the first year is 25,000 per month, the next year is 27,500 per month. Thus we have to keep raising it year after year. If your mind says, "Hey, I can not," you're bundled up the desire to get rich, and you can live from paycheck to paycheck, thereby making the banks and corporates richer with your EMI's.3. Do the same for 22 consecutive years.
Here I will mention how much investment and in how many years you can achieve this goal. Remember to increase your investment by 10% from year to year. Also your returns on Equity are taken as 12% and your returns on Debt MF are taken as 6.5%.| Monthly investment | years | Your investment | Equity | Debt |
| 25,000 | 22 | 2.1 crore | 7.7 crore | 4.3 crore |
| 50,000 | 17 | 2.4 crore | 7.2 crore | 4.5 crore |
| 1,00,000 | 13 | 2.9 crore | 7.3 crore | 5.1 crore |
Is it possible or not?
Whether You Think You Can, or Think You Can't ... You're Right- Henry Ford