Many youngsters who have just started their careers or may be people who are in the middle of their carriers (40s) have one Common question and that is - “Is 1 Crore Rupees Enough to Live in India?”
Well, Of course…. Rs.1 Crore is enough to Live in India if you are going to live only for next 10 years.
If Today you have Rs.1 Crore than you can make Rs.8-10 Lakh of healthy Passive Income annually from that money. Now Rs.8-10 Lakhs Income per year is more than enough to live happily in India. But wait. This is 2009. And I am talking about the next decade only.
Because while putting such long term calculations, you should keep in mind Inflation. Suppose, Today you are 25 years of age and planning to retire at the age of 60 years than after 35 years from today, Rs.1 Crore won’t be enough to live happily in India.
According to Economics, in 2039, You will require 22 times money as that of today (2009) to survive. So suppose if today your Monthly Expense is Rs.1 Lakh than in 2039, you will require Rs.22 Lakhs per month to maintain the same life style.
And this is the Reason why Rs.1 Crore is not enough to live happily in India if you are going to survive after 2020.
Today’s Rs.1 Crore is Rs.5 Crore of 2040 if we consider inflation at 5% per year. But if Economists are right than Today’s Rs.1 Crore will be Rs.22 Crores of the year 2040.
So You will have to earn more, Save more & Invest more if you are going to retire after 2020.
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