Retire with 5 crores/50 million with a starting salary of 3,00,000 p.a.

Sounds bizarre right. at age 23 you start with a salary of 3,00,00 p.a. and after meeting all your expenses you retire at the age of 60 with 5 crores. let me explain. at age 23 you earn Rs 3 lacs. your expenses Rs 2.8 lacs. you save Rs 20,000. next year say your salary increases by 5%. Rs 3.15 lacs. so will your expenses increase to Rs 2.94 lacs. And this year you save Rs 21,000. your total savings at the end of second year. is Rs 41,000. If you invest this savings giving a return of 15% p.a., at the end of second year your savings will be Rs 49,910.

Here comes the surprise. you continue to save at the same rate and your income grows at the same rate. and your investment earns you a return of 15% p.a. then at the age of 60 you will have Rs 4,50,10,630. that is about 5 crores/50,000,000.

So, start saving and investing.,. Begin early

I have created a calculation sheet for you which gives all the details.