How to Become a Millionaire by 50? Let’s Decode the Real Path to ₹8 Crore Wealth!

Discover how to reach $1 million (₹8 crore) net worth by age 50. CreditSprout explains practical investment strategies, compounding insights, and realistic wealth-building habits for Indian investors.

Financial Planning

by CreditSprout

4 months ago 0 28

Recently, we came across a shocking data point: nearly 6,500 Indian millionaires left India this year and migrated to other countries.

Hearing these numbers, a thought came to mind: “After all, how many millionaires are there in India? And around the world?“

And the most important question: will we ever be part of that list?

Today, we’ll tell you what it means to be a millionaire, what its true picture is in India, and how you too can achieve your $1 million (approx. ₹8 crore) goal—without making unrealistic assumptions.

It’s not difficult to become a millionaire – what’s difficult is to maintain such consistency that the money starts working for you.

What does it mean to be a millionaire?

In simple terms, a millionaire is someone with a total net worth of around $1 million (approximately ₹8 crore) – excluding their home.
Roughly 0.7% of the world’s population is millionaire, meaning only 7 out of 1,000 people.
Globally, this figure is around 56 million people, while the world population is around 8 billion.

How many millionaires are there in India?

India’s total population is around 140 crore, of which only around 7.9 lakh people fall into the millionaire bracket – meaning just 0.06% of the population!
Compare this to the USA, there are 25 million+ millionaires and around 6 million in China.
So if you achieve a net worth of $1 million in India, you literally fall into the “top 0.1% wealth bracket.”

Is it possible to make $1 million in India by the age of 50?

Honestly speaking, it’s possible, but not easy.
If you start investing in your early 20s, this target can be achieved with discipline and patience.

The challenge is that people get caught up in their financial priorities along the way – like home loans, car loans, vacations, kids’ education, and lifestyle inflation.

Just having a slightly high income doesn’t mean anything; the real game is smart investing and long-term consistency.

Let’s understand with numbers: How much will you need to invest?

Let’s look at some realistic examples, assuming 10% average annual returns and SIP growth of 8% every year:

Case 1: Age 25 (No Current Wealth)

You will need to invest around ₹35,000 every month for the next 25 years.

This consistent investment can take you to around ₹8 crore by age 50.

Case 2: Age 35 (Already have ₹50 lakh)

You will need to invest around ₹1,00,000 monthly for the next 15 years.

This is possible only if your income and savings ratio is strong.

Case 3: Age 45 (Already have ₹3 crore)

You will need to invest approximately ₹400,000/month for the next 5 years.

This scenario is tough, but theoretically possible for high-income earners.

➡️ Lesson: If you start early, the magic of compounding will work in your favor. This journey is steeper for those who start late.

The most important thing to become a millionaire is income growth

Building wealth isn’t just a game of investing; it’s a combination of income expansion and savings discipline.
First, increase your earning potential – create new skills, better opportunities and multiple income streams.
Then, invest a fixed percentage of your income – without excuses.

CreditSprout’s Wealth Rule:

“Start early, stay consistent, and put your money to work. Time and patience are the most powerful compounding tools.”

If you’d like, we can guide you on how to design your own “$1 Million Game Plan” – through realistic, customized, and goal-based investing.

Becoming a millionaire isn’t an overnight magic trick – it’s a 25-year mindset project.
Focus on your income, savings, and investing habits.
And remember, every ₹1,000 invested today can become worth lakhs in the future – you just need to give it time to grow.