How Gen Z Can Become A Crorepati By The Age Of 35 Or 40 Through Mutual Fund SIPs

Who doesn¡¯t wish to be a crorepati, right? Assuming that you are amongst those who aren¡¯t born rich, you would either need to win a lottery or invest your money to become a crorepati someday. While the first option is not in your hands, the second one is.

So if you are a youngster belonging to the Gen Z generation (those born from 1997-2012), here¡¯s how you can invest your money and accumulate Rs 1 crore wealth through small but disciplined investments through mutual fund SIPs.

We have split the Gen Z generation into four age groups, and explained approximately how much money you would need to invest for you to become a crorepati (assuming a conservative rate of return of 12% p.a. for equity mutual funds). The SIP calculator tool has been used for calculations.

How Gen Z Can Become A Crorepati By The Age Of 35 Or 40?

invest to become crorepati/shutterstock

Also Read:

If you are a 20-year-old right now

Rs 20,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.

Rs 10,500 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.

If you are a 22-year-old right now

Rs 27,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.

Rs 14,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.

mutual fund sip/shutterstock

If you are a 25-year-old right now

Rs 44,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.

Rs 20,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.

If you are a 27-year-old right now

Rs 69,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 35.

Rs 28,000 invested per month would help you accumulate Rs 1 crore corpus by the age of 40.

Understanding The Magical Power Of Compounding

how power of compounding can help you become crorepati/shutterstock

Here, you need to keep in mind that the sooner you start investing, the smaller amount of money you need to invest, as a longer investment horizon gives your invested money more time to grow and benefit from the power of compounding. Click here to understand the magical power of compounding.

Also Read: How Much You Need To Invest To Accumulate Rs 10 Crore in 10 Years

For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here