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Anil

Anil Rego  |330 Answers  |Ask -

Financial Planner - Answered on Aug 29, 2023

Alpesh Question by Alpesh on Aug 22, 2023Translate
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I am 40 Years old my annual income is 11-12 lakhs , SIP HDFC 4000, Kotak 4000, ICICI 4000, Parag Parikh 3000, Mahindra Manulife 3000, want to corpus of Rs.1 Cr in 10 yrs, pls suggest

Ans: It’s a great that you’re planning for your financial future by investing SIPs and aiming for a sustainable corpus. To reach your goal of Rs. 1 crore you might need to consider increasing monthly SIP contributions. You would need to move your contributions to about 30K per month to start with and make an annual increase of about 10%. You can recaliberate the amounts based on your comfort.
You have mentioned only the fund house name and not the scheme name and hence I cannot comment on the same.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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