In an era of Instagram reels where most people are often flaunting their riches and others are trying to get rich fast, it’s refreshing to hear a voice cutting through the noise. Chartered Accountant Nitin Kaushik took to X (formerly Twitter) with straightforward wealth-building tips that are tailored for everyday Indians. Forget overnight miracles or shady schemes – this is about discipline, real salaries, and timelines that actually fit life. As Kaushik puts it: Wealth isn’t a lottery ticket. It’s a habit you build, step by step.Kaushik’s five-step system flips the script on “get rich quick” fantasies. Instead, it’s grounded in India’s realities. No jargon, no fluff. Just a repeatable path to financial freedom.
Step 1: Kill Your High-Interest Debt First
Start here, no excuses. Credit card bills and personal loans in India? They’re vampires sucking 30-45% interest annually. Kaushik calls this your “guaranteed return.” Pay off a ₹50,000 credit card balance at 36% interest, and you’re effectively earning that much by avoiding it—way better than most investments.Picture this: Instead of letting ₹5,000 monthly interest compound into a ₹1 lakh hole in a year, wipe it clean. Only then do you touch investments. It’s like plugging leaks in your boat before adding sails.
Step 2: Master Lifestyle Control
Got the debt gone? Now cap your spending. Kaushik’s rule: Limit lifestyle expenses to 70% of your take-home pay. That leaves 30% for magic—savings and investments.Say you earn ₹1 lakh monthly post-tax. Spend ₹70,000 max on rent, food, fun. Bank the rest. As your salary grows (hello, appraisals!), don’t upgrade your lifestyle proportionally. That “lifestyle inflation” is the silent wealth killer—new iPhone, bigger car EMI, fancier vacations. Resist it, and your 30% snowballs.
Step 3: Build an Emergency Buffer
Save 6-12 months of expenses in a safe spot like a liquid fund or high-yield savings account. You never know when you would need the emergency money.
Step 4: Invest Smart and Steady
Now, the growth engine: Automate monthly investments into low-cost equity index funds (like Nifty 50 trackers). Why? Indian stocks have historically returned 11-12% compounded annually over decades. No stock-picking drama.Example: Invest ₹10,000 monthly at 12% CAGR. After 5 years? About ₹8.3 lakhs. After 10 years? Over ₹23 lakhs. After 15? A whopping ₹61 lakhs. Tools like SIP calculators on Groww or Zerodha make this crystal clear—compounding is your best friend.Kaushik loves index funds for their low fees (under 0.2%) and diversification. Skip the hype stocks; consistency beats timing the market.
Step 5: Embrace Patience—10-12 Years Minimum
This is the make-or-break. Compounding feels glacial early on (your ₹10k/month might only hit ₹2 lakhs in year 3). But stick it out. By year 10-12, it explodes. Most quit too soon, chasing shortcuts.Kaushik’s framework shines because it’s sustainable: Low risk, India-specific (RBI rules, rupee realities), and scalable for ₹50k earners or ₹5 lakh ones. Track progress yearly, adjust for inflation, and celebrate milestones—like that first ₹10 lakh corpus. The beauty? No guru needed. Just discipline. As Kaushik says, wealth builds quietly in the background while others chase viral dreams. Start today, stay the course, and watch your future thank you.