How to become a crorepati at a young and mid age check details varpat

New Delhi. Everyone dreams of becoming a millionaire, but not everyone is able to become one. If you want to become a millionaire (crorepati kaise bane) then for this you should know how to invest with a little wisdom. However, the dream of becoming a millionaire is not easy but if some special things are kept in mind and the right investment strategy (proper planning and constant saving) is made then this dream can be realized.

Know what needs to be done?
According to market experts, if a youth starts a job at the age of 20, he can easily become a millionaire when he retires at the age of 60. Experts say that the dream of becoming a millionaire can be achieved by investing money in Equity Mutual Fund in the long term.

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Invest here?
According to experts, you can achieve the goal of becoming a millionaire by saving Rs 35 daily. Whenever there is a big correction in the stock market, SIP (Systematic Investment Plan) should be started from those levels. Investors should start investing in Diversified Equity Mutual Funds for the long term from the very beginning of the job. If we assume an average annual return of 12 percent in the long term, then one can become a millionaire. However, its investor will have to start saving only Rs 35 daily i.e. about Rs 1,050 every month. If you start a job at the age of 20 and want to retire at the age of 60, then you will have to invest Rs 1,050 every month in SIP. That will get more than Rs 1 crore at a rate of compounding (compound interest) of 12 percent.

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Even older people can become millionaires
Older investors can also become crorepatis, for this they also have to keep certain things in mind. If an investor who started working at the age of 35 wants to become a crorepati after retirement at the age of 60, then he will need to invest Rs 5,875 every month. That investor will get around Rs 1 crore at a compounding rate of 12 percent.

Tags: How to earn money, Share market, Systematic Investment Plan (SIP)