Infotainment How Much To Save A Day To Become A Crorepati

How Much To Save A Day To Become A Crorepati

Let’s admit, everyone wants to become a millionaire or crorepati. Now the real question is how? It is not difficult to save Rs 1 crore if one starts savings early in his life. Check out this example: “a 25-year old person can become crorepati by the time he/she reaches 55 years by investing just Rs 3,276.53 every month. An assumption is applied i:e investment grows at a compounding rate of 12 percent for the entire 30 years.”

How Much To Save A Day To Become A Crorepati

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You will be surprised to know that many equity funds have generated in excess of 12 percent CAGR over the long term.

What is Compound annual growth rate (CAGR)?

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The compound annual growth rate (CAGR) is a useful measure of growth over multiple time periods. It can be thought of as the growth rate that gets you from the initial investment value to the ending investment value if you assume that the investment has been compounding over the time period.

Amount You Need To Save Every Month To Become Crorepati

How Much To Save A Day To Become A Crorepati

Time required to accumulate Rs 1 croreHow much you need to save monthly
At 12%At 10%At 08%At 06%
20 yearsRs 10974Rs 13923Rs 17575Rs 22054
25 yearsRs 5930Rs 8108Rs 11001Rs 14787
30 yearsRs 3277Rs 4848Rs 7099Rs 10262

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