I'm a stay at home mother planning to invest in equity every month to build a corpus of 1 crore in 10 years. Currently I get 20k from rents and planning to get a job soon. My husband pays for all expenses and has a loan until 2032 so he can't save a penny. How much and where should I need to invest to get 1crore in 5-10;years.

Ans: Firstly, kudos to you for thinking ahead and planning to build a substantial corpus for your future financial goals! As a stay-at-home mother, your commitment to securing your financial future is commendable.

Assess Your Financial Situation:

Before diving into investing, it's crucial to assess your current financial situation thoroughly. Evaluate your income, expenses, and savings to determine how much you can comfortably invest each month.

Set Realistic Goals:

Building a corpus of 1 crore in 10 years is an ambitious goal, but it's essential to ensure it's realistic and achievable based on your income and investment capacity. Setting smaller milestones along the way can help track your progress and stay motivated.

Investment Strategy:

Given your goal and time horizon, investing in equity is a suitable option as it offers the potential for higher returns over the long term. You may consider investing through systematic investment plans (SIPs) in equity mutual funds or diversified equity portfolios to spread risk effectively.

Monthly Investment Amount:

To achieve your goal of 1 crore in 10 years, you'll need to calculate the monthly investment required based on your expected rate of return. While it's challenging to provide an exact figure without specific calculations, you may need to invest a significant amount each month to reach your target.

Consider Additional Income:

Since you're planning to get a job soon, the additional income will provide you with more flexibility to invest larger amounts towards your goal. You can allocate a portion of your earnings towards investments while ensuring your family's expenses are adequately covered.

Stay Flexible and Adaptive:

Financial planning is a dynamic process, and it's essential to remain flexible and adaptive to changing circumstances. As your income and expenses evolve, adjust your investment strategy accordingly to stay on track towards your goal.

Consult with a Certified Financial Planner:

As a Certified Financial Planner, I highly recommend consulting with a professional to develop a personalized investment plan tailored to your financial goals, risk tolerance, and time horizon. They can provide guidance on asset allocation, investment selection, and ongoing portfolio management to help you achieve your objectives.

Remember, building wealth takes time, patience, and discipline. Stay focused on your goals, stay committed to your investment plan, and don't hesitate to seek professional advice whenever needed. With dedication and prudent financial management, you can work towards achieving your goal of building a 1 crore corpus in 10 years.