We know that 1 Crore is a great milestone and thus you can see the compounding effect after that. But in India very few people like only 5% will be able to reach 1 Crore milestone. So for Indian context 10 Lakh is a big milestone. And that's why getting upto 10 lakh is great but after that compounding effect happens.
When you earn 10 lakh, it is all about your effort and your sacrifices. People sacrifice their holiday, people sacrifice their dreams to get into that milestone. But after that your 10 lakh will work for you. And thus the next 10 lakh will be easy and your money will increase exponentially.
But the problem happens when their is lifestyle inflation. When your income increases, if the expense keeps on increasing then getting your goal will be hard. That's why even if your salary increases you have to keep your expense as low as possible so that you can grow your wealth multiple times. That's why 10 lakh is the hardest to get to, but the next 10 lakh will be quite easy and your money will work for you.
And not only that when you have that first 10 lakh, you will also get the confidence in the back of your mind. You can ditch the toxic job since you have some wealth in your bank. So along with the wealth you cab increase your skills which will make your 10 lakh go to Crore in some time. So even if the Crore is a milestone, 10 lakh is the stepping stone. And most people don't reach to thar stepping stone.
If you are able to breach thar 10 lakh mark, your financiall journey will be good and you will become financially free in some years. So watch this video to see how the wealth explodes after 10 lakh.
