For many middle-class Indian families, having a home of their own, enough funds to send kids to study abroad, savings of over INR 1.2 crores, and to retire with financial stability sounds like a dream. With modest incomes, rising costs of living, and unexpected expenses, saving big often feels impossible for many. But Chartered Accountant (CA) Nitin Kaushik believes otherwise.In a detailed post on X (formerly known as Twitter), CA Nitin Kaushik explained that with discipline, smart planning, and consistent investing habits, even people with average incomes can build a wealth of INR 1.2 crores in just 10 years. Here’s how, as per Kaushik’s post on X:1. Start financial planning earlyOne of Kaushik’s biggest tips is to set priorities from the start. For parents, this means beginning a child’s investment plan right from their birth. By investing just INR 10,000 per month — split between Systematic Investment Plans (SIPs) in index funds and the Public Provident Fund (PPF) — parents can target to save upto INR 60 lakh in 15 years.The math works out through the power of compounding: Mutual funds can potentially earn about 12% annually, while PPF offers safety, tax benefits, and stable returns. Occasional top-ups boost the total even more.2. Buy a home without breaking your financesFor most Indians, owning a home is a major dream— but Kaushik advises people to be patient with it. Instead of jumping into a long-term home loan, families can initially rent while saving aggressively on the side. Aim to have at least 25% of the property price as a down payment before buying.When taking a loan, keep the tenure short (10 years instead of 20) and ensure EMIs don’t exceed 35% of your monthly income. This approach reduces interest costs, speeds up loan repayment, and leaves room for other investments.3. Start saving for your retirement nowRelying only on the Employees’ Provident Fund (EPF) is risky. Kaushik suggests gradually increasing contributions to the National Pension System (NPS) and running separate retirement-focused SIPs. The goal: build INR 30–35 lakh in retirement savings within 10 years. This diversified plan provides a safety net against inflation and unforeseen expenses.4. Small habits make big impactWealth is not just about how much you earn, but how consistently you save. Kaushik recommends:– Avoid lifestyle inflation (don’t let expenses grow just because your income does)– Track your spending with a simple spreadsheet– Delay going on expensive vacations until your savings goals are met– Celebrate milestones like hitting ₹5 lakh in SIP investments or prepaying loansThe 10-year outcomeBy following this plan, Kaushik says a typical family could achieve:INR 72 lakh from mutual fundsINR 28 lakh from PPF, EPF, and NPSINR 8 lakh in fixed deposits and emergency fundsINR 15 lakh in home equity (after loan adjustments)Even after accounting for liabilities such as a INR 22 lakh home loan balance, the net worth exceeds INR 1.2 crore in 10 years.Kaushik’s message is simple: Wealth is built slowly — through patience, consistent investing, and smart financial decisions — not by chasing quick profits. For middle-class families, starting early and staying disciplined can turn modest salaries into a strong financial future.
