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Ramalingam Kalirajan |7201 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 27, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Asked by Anonymous - Apr 26, 2024Hindi

Hello Sir, I am looking forward to create a corpus of Rs. 1.5 crores in span of 7 years. What will be your suggestion. I have few SIPs less than Rs. 5,000 and very small FDs. There are FDs around Rs. 1 lakhs. How do I build up the corpus?

Ans: Building a corpus of 1.5 crores in 7 years is an ambitious goal, but with careful planning and disciplined investing, it's achievable. Since you already have some SIPs and small FDs in place, you're on the right track. Here's a suggested approach to help you reach your target:

Review and Optimize SIPs: Evaluate your existing SIPs and consider increasing the contribution amounts if possible. Ensure that your SIPs are invested in diversified mutual funds that align with your risk profile and investment goals. Regularly monitor their performance and make adjustments as needed.
Increase Savings: Look for opportunities to increase your savings rate by cutting down on non-essential expenses and redirecting those funds towards your investment goals. Consider setting up systematic investment plans for larger amounts to accelerate wealth accumulation.
Explore High-Yield Investments: Since your FDs are relatively small, consider exploring higher-yield investment options such as equity mutual funds, which have the potential to generate higher returns over the long term. However, be mindful of the associated risks and ensure your investment strategy aligns with your risk tolerance.
Diversify Your Portfolio: Don't put all your eggs in one basket. Diversify your investment portfolio across different asset classes like equity, debt, and possibly real estate or gold, depending on your risk appetite and investment horizon. This can help mitigate risk and optimize returns.
Seek Professional Advice: Consider consulting with a Certified Financial Planner to tailor a comprehensive financial plan that aligns with your goals and risk tolerance. They can provide personalized guidance, recommend suitable investment strategies, and help you stay on track towards achieving your target corpus.
Remember, achieving financial goals requires discipline, patience, and a long-term perspective. Stay focused on your objectives, regularly review your progress, and make adjustments as necessary to stay on course towards building your desired corpus.

Asked on - Apr 29, 2024 | Answered on Apr 29, 2024

Hello sir , Thank you for valuable information. My current salary is Rs. 35k. Per month. My organization doesn't allow me to work on part-time basis or as a freelancer. As this job is close to my house, I want to retain the job as there is work-life balance as of now. I am also looking forward to create a contingency fund of more than Rs. 10 crores. I need your valuable suggestions for this.

Ans: Given the salary and constraints, achieving a contingency fund of over Rs. 10 crores solely from your current job appears practically unfeasible. Consider avenues outside your job, like starting a side business, or acquiring additional skills for higher-paying opportunities.

Asked on - May 03, 2024 | Answered on May 03, 2024

Hello sir, I would like to invest Rs. 5,000 in SIP. Which SIP scheme will you suggest? That will yield me a good corpus

Ans: it's crucial to approach investment decisions with care and prudence. Consulting with a Mutual Fund Distributor (MFD) who is also a Certified Financial Planner (CFP) can provide personalized advice tailored to your financial goals, risk tolerance, and overall situation. They can assess your complete financial background and recommend suitable investment options that align with your objectives. Online suggestions can be informative but should not replace the thorough analysis and guidance offered by a qualified financial professional.

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