If you’re starting from scratch — no inheritance, no high-paying job — this simple roadmap can still take you to ₹1 crore and beyond. Chartered Accountant Nitin Kaushik, in a widely shared post, explained that wealth creation isn’t about luck but about structure, discipline, and consistency.
Build Your Safety Net
Kaushik’s first step focuses on financial security. “Save ₹1 lakh in a savings account or fixed deposit,” he advised. This fund acts as a cushion for job loss, medical emergencies, or sudden expenses. “Always build a safety net before you start investing,” he added.
The next step is long-term investing. “Invest ₹10,000 per month through a SIP in equity mutual funds,” Kaushik said. “Assuming a 12% CAGR, this can grow to ₹1 crore in 20 years. Consistency matters more than timing the market.”
Side Hustles, Insurance, and the Freedom Fund
Kaushik also emphasizes the power of additional income. “Target ₹30,000 a month from freelancing, content creation, tutoring, or similar work. Use it only to invest or build assets,” he explained. “Over 10 years, this habit alone could add ₹30–₹40 lakh to your net worth.”
Risk management is equally important. “Get term insurance equal to 10–15 times your annual income and health insurance with ₹10–₹20 lakh cover. Avoid high-interest loans or unnecessary EMIs,” he warned.
Finally, Kaushik advises building what he calls a “freedom fund.” “Aim for 25x your annual expenses. If you spend ₹6 lakh a year, your financial independence number is ₹1.5 crore,” he said.
He also explained to invest in Income-Generating Skills like Coding, writing, marketing, finance as kill-based income compounds faster than market returns.
His closing message? “Most people underestimate what consistent action can do in 10–15 years. This is the silent compounding path to ₹1 crore and beyond.”