‘I want to reach Rs 1 crore in 3-4 years’: Ankur Warikoo explains the money mistake that keeps people chasing quick wealth
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Ankur Warikoo recently shared an email from a woman with a Rs 25 lakh investment corpus who wanted to reach Rs 1 crore within three to four years.
- ✓He said this goal shows a desire for quick wealth.
- ✓Warikoo warned that impatience often pushes investors toward risky shortcuts and scams.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Synopsis
Ankur Warikoo recently shared an email from a woman with a Rs 25 lakh investment corpus who wanted to reach Rs 1 crore within three to four years. While acknowledging her progress, he called the goal an example of chasing quick wealth. Warikoo explained that compounding requires time and warned that impatience can push investors towards risky shortcuts and scams promising instant returns.
Everyone wants to grow their wealth and be rich enough to not check price tags before buying an item. However, building wealth is not easy or straightforward as it sounds. Setting a financial target and expecting the money to double does not happen overnight. Ambitious goals can motivate one to save more, invest more and build wealth, but impatience can lead to risky decisions. Recently, Ankur Warikoo has weight in on this mindset after he received a mail from a woman who already has a substantial investment corpus. However, she wants to quickly become a crorepati, which prompted Warikoo to explain why it is crucial to understand wealth creation.
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The Economic Times
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