Become a Crorepati in the age of 40 - the secret revealed

There are only a few lucky persons who become Crorepati through Kaun Banega Crorepati (KBC). All the persons are not so lucky to get selected to contest KBC and win 1 crore in it. It is always said that "When there is a will, there is always a way" i.e. if you have decided firmly to become a Crorepati then who can stop you?

Do you want to know HOW?

Here, we are showing a most possible way which can lead you to become a Crorepati, that too at very early years of your life i.e. by 40. That way is SIP (Systematic Investment Plan).

SIP (Systematic Investment Plan) is smart financial planning tool that helps you create wealth by investing small sums of money regularly, over a period of time. It is just like bank's recurring deposit.

What you need to do?

For this purpose you need to save just Rs. 11,000 per month and invest it in the SIP of a well performing Equity Scheme of a Mutual Fund continuously for next 20 years starting when you are 20 years old.

Now you are a Crorepati at your 40.....

After 20 years, that is when you are 40 years old, you will receive over Rs. 1 Crore. The rate of returns assumed is just 12% p.a. which is very reasonable considering returns from equities.

Do keep in mind following things & act according to the situation:

• Consult your financial advisor for selecting perfect SIPs
• You can break up your amount in 2 to 4 different SIPs generating very good returns
• Never ever discontinue your SIP
• Try to raise the monthly SIP amount as your income increases; it will enable you to achieve your targets earlier
• Keep watch on the growth of your investments in SIP and performance of the mutual fund
• If the fund does not perform for 1 year or more without any satisfactory reason, withdraw funds from that SIP and move whole funds to other good equity scheme and continue your SIP in that new scheme

I am sure that above article has helped you showing a perfect way to become a Crorepati at 40. Remember, as a parent, if you start SIP for your children at their early age, they can earn a huge amount through it even during their twenties & thirties. That's is possible through starting SIP early & power of compounding.

Happy investing!!

Share This : Ajay Saptaputre is a Founder of CodeForBanks.com, Techstikers.com and Distancelatlong.com. Ajay Saptaputre is the founder of three web portals - CodeForBanks, best marketplace for banking solutions; Techstikers, one of the largest technology web developer sites and Distancelatlong, the largest tool for calculating latlong, distance between countries & cities on map. Ajay is a serial entrepreneur, Internet visionary and has very successfully managed to build CodeForBanks one of the largest marketplaces for banking solutions in India. Having worked in the Software Industry for over 12 years, Ajay has rich experience in the search engine optimization, digital marketing, global Internet and E-commerce industry.
In January 2017, Ajay started CodeForBanks, best marketplace for banking solutions for comparing and selecting the best banking product and Distancelatlong, the largest tool for calculating latlong, distance between countries & cities on map. Prior to CodeForBanks & Distancelatlong in March 2015, Ajay founded Techstikers which is one of the largest technology web developer sites. Ajay is Masters in Computer Management.