How to Become a Millionaire at the Age of 30

Millionaire at 30 : We all must have heard the saying that Rome was not built in a day. This means that no major work is done in haste and haste.

Similarly, everything requires time. This rule also applies to investments. In terms of investing, starting early can help you accumulate most of your investment money.

Keep in mind that investing is a discipline in itself. Most of us aspire to earn money and reach the millionaire status. Hence it is important to start investing early.

How to Plan

If you start when you are young, you will have a much higher chance of becoming rich and growing your funds as you get older.

Your twenties (start investing as early as 20) can be very important for early retirement while working.

But at this time very few people have the desire to invest. Creating a retirement fund requires a plan. Its basic rule is to control your current and future expenses.

How Many Ways

There can be three ways to become a millionaire by the age of 30.

But for this you should be smart enough to start earning at the age of 20. How you do this is entirely up to you. Know further three easy ways to become a millionaire.

Commercial Real Estate

According to an expert, as a person in his 20s aiming to get rich in his 30s, commercial real estate could be your best bet.

Commercial assets including offices, shops, warehouses and other similar properties continue to be a solid investment option.

These can fetch you good returns as a continuous rental. Business assets can generate high returns. Grade-A office space can easily offer an average yield of 6-7%.

Retail units are a safe investment option with a yield of 8-9 per cent. As a result, continuing to invest in these can be a good early investment option in commercial real estate.

Mutual Fund SIP

Systematic Investment Plan or SIP can be the best way to double or triple your investment quickly.

According to an expert, this investment should be started as soon as the person turns 25 or when you start earning money.

When invested early and consistently over a period of time, SIP can create huge corpus which would be challenging to achieve manually.

Public Provident Fund or PPF

PPF is another sensible option. Wise because it gives tax benefits and at the same time it is a safe option.

PPF account is a Public Provident Fund account that offers low risk and fixed interest payouts over time.

In addition, your PPF account is eligible for absolute tax benefits, which means that your investments, interest and maturity lump sum payments are all tax free.