Do You Wanna Be A Crorepati?By Vandana Mathur First Posted: May 3, 2011 Tue 7:35 AM Updated: Jul 17, 2013 Wed 10:16 PM
One of the shortcuts to becoming a Crorepati is to play the game show "Kaun Banega Crorepati". But hey, even if you win the jackpot, the taxes still don't let you become a crorepati. So obviously this is not a great way (or even a possible one - for most of us) of becoming a millionaire. But there is a REAL way to amass wealth. Read on...
How To Become A Crorepati?
We assume you are young enough to work, because work is the only way you are going to amass wealth.
1. Choose A "Money" Career: You may want to be a rock star or an actor, but then you've got to be ready for the struggle. If you are in a hurry to make money, maybe you should choose something else. Look for a career that you will enjoy and also make money with.
2. Marry Success, And Once: When you choose your life parter, do give consideration to his/her career and aspirations. Once you get married, make sure you stick with your partner. Divorces and re-marriages are expensive. So avoid them!
3. Live Within One Income: After you are married, you have two fat paychecks coming in every month. Make sure that you and your family live within only one of these incomes and you save the other income. You will be amazed at the rate at which you save money. But yes, you will have to count and cut expenses every now and then.
4. Invest Wisely: At least 20% of your income should be invested in appreciating assets like property or stocks or mutual funds. Invest and watch your money work for you. But be cautious and don't let a broker cheat you of your hard earned money.
If you follow these simple rules, you will be a crorepati within a some years. Amazing, right?