You can become a millionaire even with a salary of 30-40 thousand, you just have to adopt this magical formula

If you are 25 years old and you earn 30 to 40 thousand per month, you can still become rich and plan for retirement at the age of 50. For this you just have to take the help of a special formula.

Becoming a millionaire is everyone's dream. However, there are very few people whose dreams come true. Many people earn throughout their life, they also do savings, yet they are left behind. In such a situation, it is clear that it is not necessary to do only savings. Now, the question arises that what to do? What is the way by which the dream of becoming a millionaire can come true? If you also have such questions in your mind, then this article can prove to be helpful for you in many ways. In this article, we are going to tell you about such an amazing formula, by adopting which even people with low salary can make their dream of becoming rich come true.

According to financial experts, even people with less salary can stop them from becoming rich if they live their life wisely. Many experts have given a special formula for this. With the help of this formula, even a person with a salary of 30 to 40 thousand rupees can touch his goal. Not only this, if you are 25 years old and you earn 30 to 40 thousand every month, then also you can become rich and plan for retirement at the age of 50. For many people it affects more quickly, all that is needed is to spend and invest wisely.

What is the magic formula?

 For the formula of wealth creation that we are talking about, you have to follow a rule. This rule is 50:30:20, let's understand about it in detail-

For example, suppose your salary is 40 thousand rupees. It is obvious that with this salary you will have to fulfill many needs. Now make a rule and spend 50 percent of your salary on essential things, 30 percent to fulfill your desires and keep the remaining 20 percent for investment.

If you understand in simple language, then in 40 thousand salary, 50 percent i.e. in 20 thousand rupees, you can settle the expenses of your rent, food, conveyance etc. Spend 12 thousand every month on your luxury items and put the remaining 8 thousand rupees in SIP, mutual funds and savings funds. By doing this you will get better returns. Even people with a salary of Rs 30,000 can do this comfortably. They settle their rent, food etc. with Rs 15,000, spend Rs 9,000 on themselves and invest the remaining Rs 6,000.

How to get benefit?

 If this formula is adopted on a monthly salary of Rs 30,000, then you will invest Rs 6,000 in mutual funds. Whereas, if you do this for 25 years, you will get 15 percent return, which is around Rs 1,79,04,442. While its total return will be Rs 1,97,04,442. This statistic may surprise you, but there is no doubt that it is possible.

Disclaimer: The above calculation is made as an estimate. Before any kind of question and investment, definitely take advice from financial experts.