How to make your first Rs 1 crore in 5 years

financialexpress.com:

Every investor dreams of reaching the golden number – their first one crore. Why is the one crore figure so important? It’s a milestone that represents financial stability and achievement.

Let’s say that you saved Rs 1 crore today; if you invest this at the rate of 15%, in just five years you will have another Rs 1 crore. This is where the magic of compounding begins. Let’s take this example even further and assume that you kept this nest egg untouched for another five years, you will then be sitting on almost Rs 4 cr.

However, for the most of us, getting to this Rs 1-cr mark itself can seem like a daunting journey.

Do not worry, with just a little bit of careful planning and considering some factors such as age, existing portfolio, asset allocation, and market conditions, you can get there soon. Let’s now delve into a strategic approach to help you reach your first one crore mark.

Also Read: Where and how to invest in 2024 to save more tax & accumulate wealth

The famous 15*15*15 Rule states that an investor trying to accumulate Rs 1 crore should consider an SIP of Rs 15,000 per month at 15% for 15 years to get to Rs 1cr. While this approach holds mathematical validity, it may not be suitable for all investors and market conditions. Why? It assumes that the markets consistently deliver 15% and one must remain invested via SIP throughout the entire tenure.

The sooner you start investing, the better. Time is a powerful ally when it comes to compounding returns. Starting early allows your investments to grow exponentially, giving you a head start towards your financial goals. The longer you invest, the better your chances of maximising returns.

As we can see the accumulated corpus increased by almost 100% with each