Mutual Fund, SIP Calculator: How to become a crorepati with just Rs 10,000 monthly investment - Strategy DECODED

According to Rathi, for becoming a Crorepati (a millionaire) with a monthly investment of Rs 10,000, one need to invest for approximately 20 years, assuming an expected growth rate of around 13 per cent.

This growth rate reflects what we have observed from the market index over many decades, said Rathi.

Achieving this goal will take a considerable amount of time. However, if one wants to reach it more quickly, there are two strategies s/he can consider, according to Rathi.

First, consider increasing your amount of Systematic Investment Plan (SIP) as you income grows. For example, if you step up your SIP by about 10 per cent each year—starting from Rs 10,000 in the first year to Rs 11,000 in the next year and then to Rs 12,100 in the year after—you could potentially achieve the target much faster, possibly in about 15 years instead of 20.

Second, in the initial years, investment options with a growth rate higher than 13 per cent should be considered. This approach could create wealth, allowing you to grow your portfolio to 1 crore even more quickly, potentially in less than 20 years.

However, if you maintain a constant SIP of Rs 10,000, it will generally take 20 years to reach a total of 1 crore.

How to Reach Faster?