How to Convert 50000 to Crore?

How to Convert 50000 to Crore Rupees?

There are several ways to convert 50000 to a Crore rupees. But which way anyone choose will depend on his mindset & Financial IQ.

Say for Example, if you ask some person having middle class mindset that how he will convert 50000 to a crore than he will say that, “I play safe so I will put this 50,000 into a Fixed deposit or government bonds which earns 8% return per annum. And I will hand over this bonds or FD Certificates to my grand children. This is because it takes 70 years to convert 50000 to crore at a rate of 8% return. But it’s a safe.”

While if you ask some upper middle class mindset of people than he will say that, “Why to wait for 70 Years? Instead I will put this money in a portfolio of stocks or some good mutual fund and after 40 years, at the time of my retirement this will become a crore and I will enjoy my retirement.”

Now, Let us ask this question to a person having Billionaire Mindset such as Dhirubhai Ambani. What he will answer to this question? “Well, Why to wait for 30 years to make a crore? I can make Billions in 30 years with this much of amount. I am an Entrepreneur. I will start my own Business and also borrow more capital from banks on this business to grow it even more and I will keep re-investing the profit of this business to grow it for years and after several years, I will take this Business to the public and sell the shares of this Business to literally millions of people. This is because I don’t believe in doing Investments only but I believe in creating Investments in which literally millions of people want to Invest.”

And Dhirubhai Ambani became a Billionaire within 2 decades. A Billionaire means 5000 Crores…!!!!

So The Moral of the Story is that, Your mindset is very important behind building a wealth. How you will build a wealth really depends on your mindset. In the above example, one person thinks of making 1 crore from 5000 in 70 years, the other person is thinking of making a crore in 40 years and the third person is thinking of making not just 1 crore but 5000 crores in just less than 20 years.

This means that proper mindset is very important for becoming a Billionaire.