Can saving just Rs 5000 a month make you a crorepati?

Millennials make up 34% of the Indian population and they are more money-savvy than the previous generation. Becoming a millionaire is frequently on their bucket list. Many novice investors think that minimal savings won’t make a big difference. This piece will crunch some numbers to show how starting with a small amount can lead to big savings over time.

Two decades ago, Amitabh Bachchan made it possible for a common person in India to dream of becoming a crorepati; a millionaire. A participant’s success depended on their knowledge, their ability to handle stress, and how tactfully they used the limited resources (lifelines) available to them. Fast forward to 2020, and being a crorepati isn’t as hard as it used to be. You don’t even need to be on a TV show. However, you still need similar strengths as before, especially the tactic of using your resources wisely. Do you aspire to be a crorepati? Read on. But first, some facts: In your race to become a crorepati, do not go for any ‘off the market’ investment opportunities or ‘double your money in XX days’ or Ponzi schemes that take advantage of investors’ gullibility or desperation....

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