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Omkeshwar

Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Dec 06, 2022

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Nitish Question by Nitish on Dec 06, 2022Translate
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I want to create a corpus of 5-10 cr in next 10 years. I have paused my previous sips and started new sips with a financial firm. They are listed below.

1. IIFL focused Equity fund(G) - 25000rs SIP monthly started 

2. Canara Bluechip Equity fund(G) - 25000rs SIP monthly started

3. SBI Contra (G) - 20000rs SIP monthly started

4. SBI Smal cap fund (G)- 10000rs SIP monthly

5. Canara Roberco Small cap- 10000rs SIP monthly 

I intent to save 90K to 1 L a month. what is the maximum corpus I can create with this saving in next 10 years? Also PPF of 1.5L annually.

I have a lump sum of 25L to 30L annually salary. Please suggest and guide me if I can do something more better. PPF 1.5L anually till date 8.40lakh. Previous SIPs - 10lakh

Please guide.

Ans: Funds are good, please continue. The corpus that can get created by investment of Rs 90000 is Rs 2.2 cr in 10 years.

PPF is fine.

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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I want to create a corpus of 5-10 cr in next 10 years. I started some sips in 2018 of small amount of 2k with a PPF of 1.5L annually. With this amount I have still now 19L as saved amount. Now I have paused my previous sips and started new sips with a financial firm. They are listed below: 1-  IIFL focused Equity fund(G) - 130000 one time deposit from redemption of one earlier sips which was not performing well. 2-  Canara Bluechip Equity fund(G) - 130000 one time deposit from redemption of one earlier sips which was not performing well. 3-  SBI Contra(G) - 130000 one time deposit from redemption of one earlier sips which was not performing well. 4-  IIFL focused Equity fund(G) - 25000rs SIP monthly started 5-Canara Bluechip Equity fund(G) - 25000rs SIP monthly started 6-SBI Contra (G) - 20000rs SIP monthly started 7- SBI Smal cap fund (G)- 10000rs SIP monthly 8- Canara Roberco Small cap- 10000rs SIP I intend to save 90K to 1 L a month. What is the maximum corpus I can create with this saving in next 10 years? Also PPF of 1.5L annually. I have a lump sum of 25L to 30L annual salary. Please suggest and guide me if I can do something more better. I have not redeemed all of my previous sips and effect of compounding is still on. With the withdrawal ones I have 9L plus 8.40L if PPF. Right now I'm 32 years and plan to retire at 45 to 50 looking for retirement planning. Please guide.
Ans: Hello Nitish Kumar. Depending on your goal of creating 5 crore of corpus, you can increase the amount of your SIP up to 1.59 Lakh. With current investment values of SIP and Lump sum, you may be able to achieve a corpus of 3.2 crore. Regarding your current investment, it appears that you have thoroughly researched the mutual fund market. A fine selection of schemes is made. I would suggest diversifying your portfolio by AMC and category. For future SIPs, you may introduce midcap, flexicap, and largecap categories.

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I'm contemplating a career change in my late 30s, earning Rs 14 lakhs annually. How can I navigate this transition while ensuring financial stability and working towards long-term goals such as retirement?
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2. Research Potential Careers: Conduct thorough research on the industries and roles you're interested in pursuing. Look into job market demand, salary potential, and growth opportunities to ensure your chosen career path is financially viable.

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7. Health Insurance and Benefits: Evaluate the health insurance and other benefits offered by your new employer, if applicable. Ensure you understand the coverage provided and any associated costs. If transitioning to self-employment or freelancing, research options for obtaining health insurance coverage independently.

8. Networking and Building Connections: Network with professionals in your desired industry to gain insights, advice, and potential job opportunities. Attend industry events, join professional associations, and leverage online networking platforms like LinkedIn to expand your network.

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