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  1. Recipe
  2. Goals
  3. Wealth Creation
Goal Calculators

Wealth Creation Plan

Building wealth is the ultimate goal of the majority. But it is not an overnight process; it’s a strategic approach that requires careful planning and diligent execution. While your wealth creating journey may seem daunting, it is crucial to start planning and investing as soon as you start earning.

With Recipe’s DIY Wealth Creation planner, start early and build wealth in the long term without stress.

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How to plan for your Wealth Creation

When it comes to wealth creation, investments play a significant role. Almost 87% of wealthy individuals accumulate their wealth through equity instruments. This indicates that investing in stocks, mutual funds, and other financial instruments can be a powerful wealth creating tool. But first, start from the basics!

Save
01

Creating a Budget and Managing Expenses

A crucial aspect of wealth planning is controlling your expenses and creating a budget. Tracking your expenses, identifying areas of overspending, and making necessary adjustments can free up funds for investments and accelerate wealth creation.

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Target
02

Setting Financial Goals

One of the fundamental aspects of wealth planning is setting clear financial goals. Whether it is retiring comfortably, buying a house, or starting a business, defining your objectives will help direct your financial decisions. Setting realistic and measurable goals will enable you to create a roadmap for wealth accumulation.

Invest
03

The Diversification Advantage

While investments offer the potential for high returns, they also come with inherent risks. Creating a well-balanced and diversified portfolio is crucial to control and mitigate these risks. Diversifying your investments across various asset classes, such as stocks, bonds, real estate, and commodities, can help you manage risk effectively.

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Consult
04

Seeking Professional Guidance

Sure, wealth creating can be an independent task, but seeking professional guidance can significantly enhance your financial prospects. Financial advisors and wealth managers possess the knowledge and expertise to help you navigate the complex world of investments, tax planning, and asset allocation. Their insights can help you make informed decisions and maximise your wealth creation potential.

Review
05

Regularly Review and Adjust Your Wealth Plan

Wealth planning is an ongoing process that requires regular review and adjustments. Over time, your financial goals may change, and market conditions may fluctuate. Adapting your wealth plan and investment strategy accordingly is important to ensure that you stay on track towards your goals.

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If you don’t have a goal, You’ll never get there! Create goals.

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FAQ

Frequently Asked
Questions.

Get answers to common investors' questions here or ask us on the Finology Support Portal.

How much should I invest to get 1 crore in 15 years?

To get ?1 crore in 15 years, you can use a wealth calculator and find out how much you need to invest monthly. You can also consider a wealth creation plan that combines diversified investments or consult a SEBI-registered advisor for a detailed wealth plan, to help you achieve your goal.

What is the 15 15 15 rule?

The 15 15 15 rule is a simple personal finance rule. It suggests that you should:

  • Save 15% of your income,
  • Invest 15% in wealth-creating assets, and
  • Use the remaining 15% for daily needs.


This rule helps in effective wealth planning and promotes smart wealth creation.

What is the Rule of 72 in compounding?

The Rule of 72 is a quick wealth planning technique. You can use it to estimate how long it takes to 2x your investment. It's simple to use: Just divide 72 by the interest rate you expect. For example, if you expect an 8% return, it'll take about 9 years to double your wealth!

What is the golden rule of wealth?

The golden rule of wealth is simple: start early and invest wisely. By saving regularly and choosing the right investment plans, you can grow your wealth. You can also use tools like a wealth calculator to track your progress and stay on track with your wealth creation plan.

What is the wealth creation equation?

The wealth creation equation is:
Wealth = Income - Expenses + Investments
It is the key to wealth creation. It states that you should:

  • Spend less than you earn and consistently invest
  • Prioritise saving, pay off high-interest debt and invest wisely

Using the wealth creation equation, you can grow your wealth over time through the power of compounding.

How do I create my own wealth?

Strategies to create your own wealth:

  • Saving consistently and setting clear financial goals
  • Investing in diverse options like mutual funds or stocks


You can track your progress by using a wealth calculator. Regularly review your strategy with a wealth planner and adjust your wealth creation plan as needed to make sure you achieve your goals.

How to create a wealth plan?

To create a wealth plan, start by setting clear financial goals.

  • Identify what you want to achieve
  • Budget your expenses to free up funds for investments
  • Use tools like a wealth calculator to track growth


Consider consulting a wealth planner to help make a wealth creation plan that suits your needs.

What is wealth creation plan?

A wealth creation plan is a strategy to help you build your secure financial future. It involves:

  • Saving
  • Budgeting
  • Investing

Think of it as a roadmap guiding you to reach your financial goals, like buying a home or retiring comfortably.

SEBI Registered Investment Adviser Details:

Registered Name : Finology Ventures Private Limited
Type of Registration : Non-Individual
Registration No : INA000012218
Principal Officer :  Pranjal Kamra | Email : pranjal@finology.in | Phone : 022-489-66660
BASL Membership ID : 1565
Validity : Dec 17, 2018 - Perpetual

Registered Address : Finology Ventures Pvt. Ltd., 4th Floor, Avinash One, VIP Road, Opposite to Magneto Mall, Raipur, Chhattisgarh - 492001.
CIN : U74999CT2018PTC008679
Telephone : 022-489-66660 | Email : support@finology.in
Corporate Office : Finology Ventures Pvt. Ltd., 4th Floor, Avinash One, VIP Road, Opposite to Magneto Mall, Raipur, Chhattisgarh - 492001

SEBI Local Office: LIC Complex, Jeevan Bima Marg & Pandri Road, Devendra Nagar, Raipur, Chhattisgarh, 492004.

Disclaimer & Disclosure

The securities quoted are for illustration only and are not recommendatory.
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Please read the complete disclaimer here.