Many of us dream of being rich; but how many actually work towards making those dreams a reality?

“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allan.

Indeed, savings alone can’t help you become rich.

You could be earning a handsome sum each month vide the economic activity you engage in. But eventually, you need to deploy that hard-earned money to productive asset classes and allow it to work for you i.e. multiply it.

This is exactly what Robert Kiyosaki, a noted author of books on personal finance and investing has to say -- "It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for."

Confidence of doing even better in life – earning higher increments, bonuses, hopping jobs for career growth prospects is all right; but you also need to invest the money earned wisely for future consumption.

Plus, when life throws you a curve ball sometimes, you need to be prepared to handle such contingencies. So, first before you aspire to become a crorepati or a billionaire, ensure you’ve built a sufficient contingency fund, or an emergency reserve. Maintain a minimum of 6 months and a maximum of monthly regular expenses (including EMIs) in a savings bank account and/or liquid funds and ensure you’re leaving it untouched exclusively to handle exigencies. Also, make sure you’re adequately insured to indemnify the risk.

Also, take a financial health check-up. This will help you assess where you stand today and where you want to reach. Much like a physical medical health check-up, a financial health check-up will assess your financial health (based on your age, income, budgets, debts, insurance cover, financial goals, etc.) and suggest the best corrective course in the interest of your long-term financial wellbeing.

In your endeavour to become a crorepati, ignoring ‘inflation’, the cost of living, can cost you dearly. Based on your financial health and risk profile, deploying your hard-earned savings in wealth investment avenues is imperative to earning an appealing ‘real rate of return’ adjusted for tax.

Today, Systematic Investment Plans (SIPs) offered by mutual funds are an effective way to create wealth systematically. They’re lighter on the wallet, facilitate rupee-cost averaging, power the portfolio with compounding, make market timing irrelevant, and instil a sense of discipline while investing.

SIPs can help you accomplish many of the financial goals in life — buying a dream home, a swanky car, travelling abroad for leisure, providing the best education to your children, getting them married in style, and for your own retirement, among the other goals and dreams you may have. But choosing the right category of mutual fund schemes is the key. Plus, you need to consider your investment objective, investment horizon, and financial goals, so that your asset allocation is set right.

In current times, where the Indian equity market has scaled to an all-time high, you need a strategic portfolio that can help you grow wealth faster, but at a calculated risk with a core and satellite approach to investing. PersonalFN’s latest offering: The Strategic Funds Portfolio For 2025 can help you just do that

Remember, Rome was not built in a day. The path to become a crorepati is a gradual process with series of factors at play. It is imperative to evaluate your investment progress regularly.

If your progress towards financial goals is not satisfactory, then one or more of the following options can be exercised to becoming a crorepati:

✔ Review your investments and alter specific investment amounts / investment instruments

✔ Push the time horizon of your goal further back, wherever possible. For example, if you are planning to retire at 50,   consider retiring at 55 instead, giving yourself additional years to earn

✔ Reduce the goal corpus that is required and be realistic about what you want

Further, improving your financial literacy can benefit you in the path to become a crorepati. It can help you take well-informed, mature decisions on every aspect of personal finance, ensuring that your financial health remains in the pink always. And if you aren’t well-versed, do not understand things that may weigh a heavier impact on your financial wellbeing, and need handholding as you walk the path to become a crorepati, don’t hesitate to reach out to a Certified Financial Guardian, who is mark of Trust and Respect.

“The value of an idea lies in the using of it.” - Thomas Edison.

So go ahead, walk the path to become a crorepati.

Happy Investing!

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