How I Made ₹1 Crore at Age 20

Summary

This video shares a personal journey of how the creator earned their first one crore (₹10 million) through YouTube and smart investing. The script highlights the struggles and strategies involved in reaching this goal over several years, including initial setbacks and gradual growth. The creator emphasizes the importance of hard work, understanding what to do, with whom, and when, to achieve financial success. Through practical advice, including career choices and investment strategies, the video encourages viewers to take a smart and patient approach to wealth-building, regardless of their starting point.

Takeaways

• 😀 Dreams are important. Having a clear goal, like earning your first ₹1 crore, can motivate you to work hard and stay focused.
• 😀 Persistence is key. The speaker worked tirelessly for months without earning any money before making their first significant earnings through YouTube and brand collaborations.
• 😀 Hard work alone isn't enough. Success also depends on making smart decisions about what to do, who to work with, and when to act.
• 😀 It's important to invest the money you earn. The speaker invested in their house, office, equipment, and mutual funds to grow their wealth over time.
• 😀 Patience is crucial in wealth-building. Over the years, consistent effort and smart investing led the speaker to their first ₹1 crore.
• 😀 Mistakes are part of the process. The speaker reflects on their initial missteps in cryptocurrency investing, but highlights the importance of learning from them.
• 😀 Achieving financial success requires identifying your passion. Once you find what you truly want to do, focus on becoming the best in that field.
• 😀 Salaried employees can also build wealth. The speaker suggests a starting salary of ₹20,000-₹30,000 and advises investing in mutual funds to grow savings over time.
• 😀 Compounding investments can work wonders. Even small, regular investments can add up significantly over years, as demonstrated by the speaker's 10-11 year example to achieve ₹1 crore.
• 😀 Long-term thinking outperforms quick fixes. Building wealth slowly through steady investments is more sustainable than trying to get rich quickly.
• 😀 Wealth grows with time and patience. The speaker illustrates how small investments, with time, can lead to immense returns, growing from ₹1 crore to ₹45 crore over 30 years.

Q & A

What inspired the speaker to start working towards earning their first 1 crore?

The speaker was constantly thinking about their career while in 11th grade and questioning themselves about what they wanted to achieve in life. They realized that setting a goal early and working towards it would help them get ahead of others.

How long did it take the speaker to earn their first 1 crore?

It took the speaker around 3 years to earn their first 1 crore after starting their journey with YouTube in 2019.

What challenges did the speaker face during their early years of earning?

In the early years, the speaker faced several challenges, including not making any money for 7-8 months, struggling with brand collaborations, and dealing with the COVID-19 pandemic, which impacted their earnings.

How did the speaker manage to reach the 1 crore milestone despite these challenges?

The speaker continued to work hard and consistently create content, despite the challenges. They diversified their income streams, earning from YouTube ads, brand collaborations, and even promoting products.

What role did investments play in the speaker's journey towards 1 crore?

Investments played a crucial role in growing the speaker's wealth. They invested in mutual funds, stocks, and even cryptocurrency. A large portion of their 1 crore was also invested in a new home, office, and equipment.

What is the speaker's advice for people who want to earn their first 1 crore?

The speaker emphasizes the importance of hard work and smart decisions. They suggest figuring out what you want to do, becoming the best in your field, and being persistent. They also highlight that understanding 'what, with whom, and when' is key to success.

What is the speaker's opinion on hard work versus smart work?

While the speaker acknowledges the importance of hard work, they emphasize that smart work is equally important. Achieving wealth is a game of intelligence, not just physical effort. It's about working smart and making the right choices.

What investment strategy does the speaker recommend for people earning a salary?

For salaried individuals, the speaker recommends investing at least 20-25% of their salary in mutual funds, particularly small-cap and mid-cap funds, to grow their wealth over time. They also suggest looking for higher-paying job opportunities and improving their skill set.

How does the speaker suggest accelerating the process of earning 1 crore?

The speaker advises that by increasing your income (such as earning a higher salary or finding better-paying job opportunities) and consistently investing, you can achieve the 1 crore goal faster, possibly in 9-11 years instead of 18 years.

What did the speaker learn from their investment in cryptocurrency?

The speaker regrets not holding onto their cryptocurrency investment for longer, as they did not make the right decisions and took losses. They now recommend cautious investment in crypto and suggest using platforms like CoinSwitch for safer and informed trading.