building wealth

How much money is required for building wealth?

How much money is required for building wealth?

Article Summary…..

Q.1 How much money is required for building wealth?

Every individual has different needs & different perspective towards life. Accordingly, they plan their present & up to some extent, future also. You just ask your husband to choose between these two simple options:-

  • Live lavishly before Retirement
  • Live lavishly after Retirement also
  • These days, most of the people are not covered under the benefits of pension or defined retirement. When we talk about financial planning, most of the people say, “we don’t have surplus to fund for future” but interestingly, you have enough money for cigarette, pan masala, Gutkha & liquors etc.Dear friends, there is no legal shortcut for making money overnight. It is the result of your constant & deliberate efforts that creates a handsome amount for your & your loved one’s future when you won’t be working.

How much you need to invest if, you are at the age of 35 and want Rs.1 crore at the age of 60? Surprisingly if you are investing Rs. 3000 a month with simply increasing the contribution by 9% per annum, at which, smoking or drinks cost increase with inflation & if you make only 11% return, your goal is achieved.

Health factor

The most important part of smoking is, whenever you smoke, you give 5 minutes of your life to ‘YAMRAJ’. Although every one of us knows this fact that in our country, suicide is a crime but gradual suicide is not. Smoking brings many unwanted guests with it, like – ailment, doctor, medicines and hospitalisation. How can anyone be so irresponsible towards his family?

Q.2 How much you have burnt till date?

Do you actually know, how much you could have saved for yourfamily? If you are smoking for last 10 years and your monthly expenditure is Rs. 3000 on your habitual expenses, you burnt Rs. 231000 till date with rising cost of smoking. If you had invested this amount, you would have got Rs. 4 lac approximately. Now just imagine that you have Rs. 4 lacs, what would you like to gift your spouse? A solitaire, a foreign vacation, a small car or you would pay the down payment of your flat?

Q.3 How much, you are going to burn for rest of your life?

By now, you must have realized that after wasting enough of hard earned money, you have only shortened the span of your precious life. Now let’s calculate; after retirement, how much you will spend and what legacy you can leave at the age of 85? Suppose, you spend Rs.3000 per month for next 25 years on smoking. We assume that inflation to be at 9%. Then, in next 25 years, you will burn the capital amount of Rs. 33 lacs only and if you could invest this in a disciplined manner, you will have the wealth of Rs. 100 lacs or 1 crore. Are you not able to fullfill your dreams with this amount? If you still want to lose your money, you should also know that you can leave surprisingly Rs. 22 crores of wealth for your loved ones if your life expectancy is 85,. Do this sounds relevant now?


If you invest the same contribution that is going on smoking,it can make a huge difference. Whenever anybody wants to leave smoking, he should not leave it at once. They should start reducing it & gradually they can get rid of this addiction. Family support & constant motivation plays a very crucial role. Appreciate his effort but don’t expect spectacular results overnight, rather prepare a strategy to help him. Most importantly, don’t forget the disciplined approach to become wealthy. Start investing a fixed amount.For this,you should consult a financial planner who can plan your life according to your goals and can help you also in quitting smoking.
Enjoy financial planning!

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