How to be a crorepati in India: Top tips to make money
How to be a crorepati in India: First, remember there are no shortcuts. Stock market investors must know that they can make money in the long term as they stay invested for a longer period of time. Trying to time the market is not the right strategy. How long is enough? It is only after 10 to 15 years that average annual returns will exceed anything that debt products could have provided. Here is how you can do it:
Target: Rs 1 crore. Time: Over 20 years.
Solution: It is based on 3 broad premises: 1. Ensure you are invested predominantly in equities; 2. Instead of investing in fits and starts do so regularly with a systematic approach; 3. Reinvest the gains you are making. Your principal generates returns and these returns generate further returns on reinvestment. Photo: PTI