Last Updated on May 9, 2019 by Gopal Gidwani

The cost of living is rising and people want to retire with enough money in their bank account. Once you retire, it is of utmost importance to have enough money in your bank account to spend a comfortable life after retirement. In order to fulfill your dream of retiring as a crorepati, you need to start early and maintain consistency. Financial discipline will help you reach your goals. Here are ten things you should do now if you wish to retire a crorepati.

1. Irrespective of the amount of money you make, you should save now and spend later. You need to have an agenda to save at least something from your monthly income, and you must stick to it. Preparing a budget at this stage will help you estimate the amount of money you can save each month.
2. In order to ensure you save something each month, you need to have a separate savings account and transfer whatever is left in your account at the end of the month in the savings account. Choose a savings plan for this account. Once you transfer the amount, do not touch that money.
3. Always save for an emergency. You might have to face setbacks in your life and an emergency fund will ensure that you have enough in your savings account.
4. Do not splurge all the bonus or extra income you receive. Put it in your savings account and grow your savings.
5. Always make credit card payments on time. Pay the whole amount before the due date so that you can save on the interest.
6. Increase your savings consistently. Every time you get a raise, increase the monthly saving.
7. The ideal way to retire as a crorepati is to save some money on a consistent basis. No matter how big or how little it is, you need to keep on saving as long as you can. Invest this money into the best savings plan and let it grow.
8. Never get lured by quick money-making offers. Do not put your money into any scheme without researching and making a well-informed decision. Nobody can double your money overnight.
9. Start saving and investing at a young age; it is never too soon to begin investments. Invest everything that you manage to save in a wise manner and maintain consistency.
10. Have a diversified investment portfolio. Do not put all your money into one investment product or fund. It is better to divide the investments and reduce the risk associated with it. Invest in stocks, mutual funds, insurance, debt products, and fixed assets.

Most importantly, do not withdraw funds from the savings account at the first instance. Once you transfer your money into the savings account, do not look back at it. When choosing investment products, consider your long-term goals, risk appetite, and current financial health. Make smart investment decisions to grow your money. If you are already dreaming about a comfortable retired life, you need to start working on it from today itself.