A simple check - 30 yrs ago a decent 2 BR apartment was about INR70k and today, it is INR1.25Cr atleast. 1Cr may have a good value today, but doubt if that will retain its shine in 30 yrs time. Yes, its good to cultivate the savings habit and have some money left in 30 yrs time, but would be interesting to know what 1Cr will get in 30 yrs time.
A simple check - 30 yrs ago a decent 2 BR apartment was about INR70k and today, it is INR1.25Cr atleast. 1Cr may have a good value today, but doubt if that will retain its shine in 30 yrs time. Yes, its good to cultivate the savings habit and have some money left in 30 yrs time, but would be interesting to know what 1Cr will get in 30 yrs time.
Who can guarantee this kind of a return. If there is .. I am ok assuming 11% also.. and will invest INR 1000 per day or 3 Lacs per month..Problem, these articles are like ads from Funds / Insurance companies, which in reality will never give such returns.
I am unable to take for granted the final out come. Even if the arithmatics is correct, the intervention of the controller of currency (I DO NOT WANT TO SAY THE THE PRIME MINISTER OR FINANCE MINISTER OR RBI) MAY PUT A SPOKE SUDDENTION AS IT WAS DONE ON 8TH DECEMBER, 2016).I know a friend who fixed his daughter's marrige, with a good balance in his PPF account could not get any use out of the accumulation as desired by his own family. I have more than a score of my children,grand children and great grand children who all met me on the eve of PONGAL holidays and politely asked for a way out. I could not find a solution but just advised them to come to the help of each other as they met the marriage expenses a month ago. It was clear that all of them lost the faith in the longterm investment.As I am a student of actuary, they well agreed with insurance plans only, which I insisted when all of them were children.
Re: become a crorepati
by Krishnamoorthy v on Jan 15, 2017 11:39 AM
Any investment plan should be allowed to run for five years with the tax plans allowed on the date of starting. Other wise, the savings plans will be useless and people will not asave for the future.
