Dear Sir, i am 43 year olf and want Rs. 3 Crore by end of 15 years , i am having monthly SIP (Rs.31000) in following MF's from last one year - Axis small cap (D- growth)- Rs.10000, PGIM Midcap Opportunities (D- growth)- Rs.10000, SBI Multi cap (D- growth)- Rs.5000, Canara robecco bluechip equity fund (D- growth)- Rs.6000. pl. advice whther to continue the same MF' & with same SIP amount will i be able to achieve my target.
Ans: Hi Avinash, thanks for writing in.
To create a corpus of Rs.3 Crore in 15 years, you need to increase your investment amount to Rs.60,000 every month, that is increase your monthly SIP investment by Rs.27,000.
The funds you invest in are good funds and you can continue investing in them. You can modify the SIP values as follows:
-Axis Small Cap Fund Growth- Rs.15,000
-PGIM Midcap Opportunities Fund-Growth -Rs.15,000
-SBI Multicap Fund-Growth- 7,500
-Canara Robeco Bluechip Equity Fund Growth- Rs.7,500
You can also consider starting SIP's in:
-Edelweiss Nifty 100 Quality 30 Index Fund- Rs.7,500
-Samco Flexicap Fund-Rs.7,500
Stepping up your SIP's every year by 10% or more will help you create a larger corpus and achieve your goal faster.