Hello, I am 34 earning 2 lacs per month. I have been investing in Mutual funds from past 6 years and from pass 2- 2.5 years I have reached and investing 1.6 lacs per month in Mutual funds. In next 10 years I want to have an automatic income of about 3 lacs per month. Can you advise how is it possible. I am investing in Mirae emerging asset, DSP, axis long term quity, parag pariek flexi cap, HDFC mic cap, HDFC Top 100, Nippon, SBi (small cap) Please advise the mutual fund I should invest and the amount to get an income of 3 lacs per month in next 7-10 years Also, i have bought a house for 1.5 cr. Have paid about 25 lacs from my investments already. Planning to pay about 70% as down payment in the next 3-4 years and 30 % loan. Is that a wise decision. Please advise

Ans: It's great that you're actively saving and investing for your future. However, to achieve your goal of accumulating ?2 crore by the time you're 60, you may need to adjust your investment strategy and consider a few factors:

Emergency Fund: It's crucial to have an emergency fund to cover unexpected expenses, such as medical emergencies or job loss. Aim to save at least 3-6 months' worth of living expenses in a liquid and easily accessible account.

Investment Allocation: While investing in mutual funds, consider diversifying your portfolio across different asset classes such as equity, debt, and hybrid funds to manage risk effectively. Also, review your investment choices periodically to ensure they align with your goals and risk tolerance.

Increasing Investments: To reach your target of ?2 crore by age 60, you may need to increase your monthly investments. Consider using a financial calculator or consulting a financial advisor to determine the monthly contribution required based on your expected rate of return and time horizon.

Passive Income Sources: Explore passive income streams such as rental income from real estate properties, dividends from stocks or mutual funds, or interest from fixed deposits or bonds. These sources can provide additional income without requiring active involvement.

Financial Planning: Consider consulting with a certified financial planner who can help you create a comprehensive financial plan tailored to your goals, risk tolerance, and financial situation. They can also provide guidance on optimizing your investments and achieving financial security.

Remember, achieving long-term financial goals requires discipline, patience, and periodic review of your financial plan. By making informed decisions and staying committed to your goals, you can work towards building a secure financial future.

Ans: It's impressive to see your commitment to investing and your ambitious goal of generating a passive income of 3 lakhs per month in the next decade. With your current investment capacity and timeframe, achieving this target is feasible, but it requires careful planning and strategic allocation of your resources.

Given your investment horizon, you might consider a combination of growth-oriented and income-oriented mutual funds. Growth-oriented funds can provide capital appreciation over time, while income-oriented funds can generate regular dividends or interest payments.

To meet your income goal, you'll need to accumulate a significant corpus that can generate a sustainable monthly income. Based on your current investments and savings rate, you may need to increase your monthly investment amount and consider higher-returning investment avenues.

Regarding your mutual fund portfolio, it's essential to ensure diversification and align your investments with your risk tolerance and financial goals. Consider consulting with a Certified Financial Planner to tailor your portfolio to meet your income objectives while managing risk effectively.

Regarding your property investment, using a combination of your savings and a home loan for the down payment seems like a prudent approach, as it reduces your debt burden while leveraging your existing assets. However, assess your cash flow and future income prospects to ensure you can comfortably manage the loan obligations.

Overall, achieving your financial goals requires a holistic approach, considering both investment strategies and asset allocation. Stay focused on your long-term objectives, and seek professional guidance to optimize your investment plan and real estate decisions. With discipline and careful planning, you can work towards building a robust financial future.