Quick Answer: How Can I Become A Crorepati?

Is 1 crore a good salary in India?

More than 49,000 earned an annual salary of over Rs 1 crore.

Compared to the number in 2017-18—41,457—there is an increase of 18.5 per cent.

If all taxpayers are included, the number of those with taxable income of more than Rs 1 crore per annum rises to about 1.67 lakh, a 19 per cent rise over 2017-18..

Which investment is best for monthly income?

Here are the best investment options to help you get a regular income:NBFC Fixed Deposit: … Post Office Monthly Income Scheme: … Senior Citizen Savings Scheme: … Long-term Government Bond: … Equity Share Dividend: … Annuity: … Mutual Fund Monthly Income Plan:

How do you get 1 cr in 5 years?

Shweta Jain, Founder & CEO- Investography, responds: To get to Rs 1 crore in five years, you need to invest at least Rs 1.2 lakh, assuming an annual return of 12 per cent per year. You might get around Rs 45 lakhs if you invest Rs 50,000 for five years. Ideally, you should invest for a longer term in equities.

Can I do FD of 1 crore?

If FD interest rate is 6.5%, then you get Rs 6.5 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 54,167. If FD interest rate is 7%, then you get Rs 7 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 58,333.

Is 1 crore a lot of money?

In other words, Rs 1 crore would be worth 1/3rd of its value (around Rs 31 lakh) today after 20 years. Everyone knows about inflation, but many people fail to include it in their financial planning. Be it retirement or child’s higher education, inflation would add a few zeros to your target corpus over a long period.

Can I double my money in 5 years?

Similarly, if you want to double your money in five years, your investments will need to grow at around 14.4% per year (72/5). If your goal is to double your invested sum in 10 years, you should invest in a manner to earn around 7% every year. Rule of 72 provides an approximate idea and assumes one time investment.

How can I become Crorepati fast?

Invest wisely in best tax saving optionsInvest in PPF. … Invest in ELSS Tax Saving Mutual funds. … Invest in NPS which can give additional Rs 50K income tax benefit. … Add your contribution to Voluntary Provident Fund which gives you tax benefit + PF interest of approx 8.5%.More items…

How can I become Crorepati in share market?

If you want to become a Crorepati by investing in stock market than Invest in fundamentally strong companies for long term, Don’t pull out your investments in the down market but add more stocks into your portfolio at cheaper price whenever the market goes down….. Hold your stocks for 1 or 2 decades.

How can I earn 50 lakhs in 5 years?

How Can You make Rs. 50 lakh in 5 years?1.HDFC Small Cap Fund.2.L&T Emerging Businesses Fund.Parag Parikh Long Term Equity Fund.Mirae Asset India Equity Fund.The Moderate Investor.1.Invesco India Contra Fund.Axis Focused 25 Fund.3.Principal Focused Multicap Growth Fund.More items…•