Jamshedpur. In today’s era, even low income people can make their future financially strong, all they need is the right mindset and constant discipline. Talking to Local 18, financial advisor Javed Akhtar Khan, who has been working in this field for the last 21 years, says that if a person earns 25 to 30 thousand rupees a month, then he too can easily become a millionaire. This is not an impossible dream, but the result of a planned investment.
First step to become a millionaire
Javed Akhtar tells that the first step to becoming a millionaire is to invest regularly every month. For this, SIP (Systematic Investment Plan) in mutual funds is the best and easiest way. He says that people should invest at least Rs 5000 every month in a good multi cap, flexi cap or multi allocation mutual fund. The advantage of these funds is that they have the ability to give better returns by investing money in different sectors as per the market conditions.
money makes money
Now let’s talk about the details of this investment. If a person invests ₹5000 in SIP every month for 22 years and gets an average annual return of 15%, then after 22 years the total amount can easily reach around ₹1 crore. This is entirely due to the effect of compounding, where your money makes money and that money makes more money. Many good funds have given returns of 18–20% in the last years, so the amount can be even higher.
Increase the amount if salary increases
Javed Akhtar emphasizes on one important thing – it is necessary to invest minimum ₹ 5000, otherwise the SIP bounces and the entire plan gets spoiled. If your salary increases with time, then you should increase the SIP every year. Like increasing it from Rs 5,000 to Rs 8,000, then Rs 10,000 or whatever is possible for you. If this is done then the goal of becoming a millionaire can be achieved even before 22 years.
Discipline is more important than money.
In the end he explains that the biggest challenge in investing is not lack of money, but lack of discipline. If a person invests continuously for 20-22 years without stopping, without fear and without getting greedy, then it is absolutely possible to become a millionaire. Low income is not a hindrance—proper planning and consistent investment is the key to success.
Overall, even a monthly SIP of ₹5000 can change your future. You just need to start, and there is no better day than today to start. A small investment made today will give you big benefits tomorrow. Just try not to use it prematurely.
