First ₹1 crore by age 40, 45 or 50: what you need to save

When do you want your first crore?

"First crore by 30" is a nice thing to say. It is also a monthly amount that most people cannot pay. Better to ask: if I start at my age today, and want it by 40, 45, 50, 55 or 60, what does it cost each month?

Here is the monthly SIP for ₹1,00,00,000 at an illustrative 12% a year. "n/a" means fewer than 5 years, which is too short to plan around.

What the table says

• Start at 22 or 25: The monthly amounts are small. Crore by 50 needs ₹4,200 a month from age 22, and ₹5,900 from 25. That is the gift of time.
• Start at 30: By 50 you need ₹10,900 a month. By 55 it is ₹5,900.
• Start at 35: Crore by 55 needs ₹10,900 a month. By 60 it is ₹5,900.
• Start at 40: Crore by 60 needs ₹10,900 a month. A 10 year version (₹44,700) is a stretch for most people.

Is it too late?

No. Look at the 40 row. The monthly amounts are higher, but a crore by 60 is not out of reach. If you cannot do the full amount, use a yearly raise (how that works) or push the date out a few years.

If you are early: do not waste it

The biggest win in that table is the 22 row. If you are in your early twenties, your best move is not a clever fund. It is simply to start something regular, even ₹1,000 a month, and then raise it each time your pay rises. Our article on starting with ₹500 or ₹1,000 shows why the habit matters more than the amount.

Match the goal to the time

A crore by 40 from a start at 30 is only 10 years. That needs a high monthly amount (see the numbers). If the number is out of reach, it is better to move the date than to take risks you cannot handle.

What if you already have savings?

Anything you have already invested helps. Here is the monthly SIP for a 20 year plan at 12% (for example start at 30 for a crore by 50, or start at 40 for a crore by 60), depending on what you start with.

For someone starting at 40, ₹10,00,000 already saved cuts the monthly SIP for a crore by 60 from ₹10,900 to ₹400. If you have old savings sitting in a bank account beyond your emergency fund, this is the number to think about.

Are you on track?

Here is what a 15 year plan at ₹21,100 a month would look like along the way, at 12%.

The curve is back loaded. In the first 5 years you only reach about 17% of the goal, even though a third of the time has passed. This is normal. Do not judge your plan by the first few years.

Family life gets in the way

Most people reach 35 with a home loan, a child's school fees or parents to support. A few ways to keep a SIP alive when life is full:

• Treat the SIP as a bill. It leaves right after payday, like rent.
• Let the raise follow your appraisal. Never raise it in the same month as a big expense.
• Pause fewer things. If money gets tight, cut the SIP in half rather than stopping it.
• Plan for the crore in decades. Splitting it into "by 45 for 50 lakh and by 55 for a crore" can feel kinder. See how much SIP for 50 lakh.

Which age target should you pick?

Pick the age by what the crore is for. If it is for a home, pick the year you will buy. If it is a safety fund for retirement, pick the year you want to slow down. If it is just a number, pick the one that keeps the monthly amount comfortable, then raise it later when you earn more.

What to do next

1. Find your row and the column you want.
2. If the number is more than you can do, move right one column or use a yearly raise.
3. Put your own numbers into the calculator.
4. Start this month.