One in five adults with Indian passports have a crorepati status. This means they have a net worth that is 1 million rupees or more, which is a staggering sum! Since this stat has become commonplace, people who are not millionaires are beginning to get curious about what it takes to amass such wealth. With all types of news articles, websites and blogs referring to the ‘millionaire’ as an India-specific job title, the average person might think it’s all just one big scam. But the harsh reality is that this number of people refer to themselves as millionaires because they absolutely deserve it. How many zero in crore?7 zeros. A whopping 17 lakh people with an Indian passport (1.7 million) have been found to fall under the highest tax bracket.
According to a report by The Times of India, “Of India’s 1.7 million millionaires, nearly 17 lakh (topped up by 8-10 lakh from the Forbes India Rich List 2009) come in the 10 percent tax bracket and pay 20 per cent tax on their investments”. This means that 60 percent of all millionaires are not the luckiest lot out there, but rather the hard working ones who have made a name for themselves in life.
Common Stereotypes When It Comes To Count Zeros In Crore :
1. Millionaires Are Born, Not Made.
Most people who are not millionaires think that their bank account balance doesn’t reflect their hard work and talent. On the contrary, they think the rich count their money at a young age, live a lavish life and then die down to nothing due to their profligate spending habits. Well, this is not true at all! If it were so, then all of India’s millionaires would be under the ages of thirty-five and sixty-five as statistically speaking, this is how old people are who are reaching their peak financially.
2. Millionaires Don’t Work Hard.
Most people who aren’t millionaires may not have been born into the right family, or they may be physically challenged. They believe that all money is made by hard work and that one has to slave away at a job for a long period of time (no matter how they are paid) in order to accumulate any substantial amount of money that they can be proud of.
Well, if this was the case then almost none of India’s millionaires would be self-made businessmen, or entrepreneurs. A majority of India’s millionaires count their money because they have worked hard on something they love (business, writing and travel), but of course there are exceptions to every rule!
3. Millionaires Have No Sense Of Values.
We know that this is not entirely true, but it’s still a common stereotype. The majority of the people who aren’t millionaires don’t feel that they have values that come with their money, so they believe that if they have no feelings of responsibility and hunger, then it means they are not worth anything. Well, just because one doesn’t feel any sense of responsibility does not mean that one should justify their spending habits by telling themselves “I’m not worthy enough”. On the contrary, this could mean he or she is greedy and just wants all the cake for himself or herself!
4. Millionaires Are Rich And Famous People.
The majority of the people who are not millionaires have heard of only a few famous people and celebrities that they admire. They hope to be like them because they see them as being wealthy and successful. However, it is important to not confuse being rich with being famous if one wants to be truly wealthy.
No matter how successful one may become, it does not mean that one has made a name for himself or herself in life. A lot of work goes into becoming well-known in any field, so what happens if you do make an impact in your field? You might just start making tons of money!
5. Millionaires Stumble Upon Their Fortune.
A lot of people also believe that millionaires don’t have to do much in life. They think that they simply stumble upon their fortune, and while this statement is a little bit true, it’s not entirely true either. We all know that any type of wealth only comes with hard work, but let’s face it, some people are more lucky than others.
Unless you have a plan in life, you will be stumbling upon your fortune all the time. However, if you are prepared to take your risks and invest in the right things, then you can make anything happen! So remember, the better prepared you are for the future, the easier it will be to make something happen.
