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: It sounds like you're juggling a lot, but you've got a solid foundation laid out. It's admirable how you're balancing your responsibilities towards your family's present needs and future goals. Let's address your concerns and aspirations one by one.

1. Car Purchase Consideration:
You're eyeing a new car, a shiny symbol of comfort and convenience. However, before diving in, let's assess if it aligns with your current financial trajectory:

Timing and Need:
Do you have an immediate need for the car, or is it more of a desire?
Can you postpone the purchase until you've accumulated a down payment or have more breathing room in your budget?
2. Reviewing Savings and Investments:
Your portfolio is diverse, spanning various assets from real estate to mutual funds. Let's evaluate if each piece is still working optimally for you:

Portfolio Alignment:
Are all your investments aligned with your long-term goals and risk tolerance?
Can you streamline or consolidate any holdings to reduce costs or enhance performance?
3. Exploring Additional Income Streams:
You're eager to bolster your financial stability by exploring secondary income sources. Let's brainstorm some viable options:

Leveraging Skills and Passions:
What skills or hobbies do you possess that could be monetized?
Are there freelancing opportunities or consulting gigs in your field of expertise?
4. Planning for Financial Freedom:
Your aspiration to achieve financial independence within a decade is ambitious yet attainable. Let's outline a roadmap to realize this vision:

Defining Financial Freedom:
What does financial freedom mean to you personally?
Is it early retirement, pursuing passion projects, or having more flexibility in your lifestyle?
Strategic Steps:
How can you increase your savings rate to accelerate progress towards your goals?
Are there opportunities to optimize investments or explore alternative income streams?
5. Optimizing Current Financial Plan:
Let's explore potential adjustments to your existing financial strategy to enhance its effectiveness:

Reallocating Resources:
Can you reallocate funds towards higher-performing investments or areas with greater potential?
Are there opportunities to automate savings or investment contributions for greater consistency?
Conclusion:
Your commitment to securing your family's financial future is commendable. By carefully considering each aspect of your financial situation, from major purchases to investment strategies, you're laying a strong foundation for long-term success. Remember, financial planning is a journey, and with patience, diligence, and the guidance of a Certified Financial Planner, you're well-positioned to achieve the freedom and security you desire.