Friday, March 31, 2006

How to become a Billionaire!: The Beauty of Sec. 80 C

If you look back over the previous posting MathMagic-of-compounding-iii
you will see that a person could reach to INR 46,696,038,480 by the age of 60. At current Indian Rupee and US Dollar exchange rates that is more than a Billion Dollars. So is this a recipe for "How to become a Billionaire"?

It sure is! Starting with investing Rs. 100000 every year under Sec. 80 C for added tax benefits and ending up with 1 Billion US Dollars by just investing in appropriate mutual funds is definitely an easy pathway to Wealth.

Of course, real returns might be much lower in the longer run. But the Goldman Sachs BRICS report gives me confidence that someone starting out just about now might be able to really achieve this.

So much for article we will look at some of the risks...Who said you can get all those returns without risks...Otherwise everyone would be a Billionaire or a Crorepati!


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