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Omkeshwar Singh  | Answer  |Ask -

Head, Rank MF - Answered on Dec 07, 2022

Mutual Fund Expert... more
Pavan Question by Pavan on Dec 07, 2022Translate

I have been investing in the below mentioned MF SIP schemes my goal is to have 1CR by the time i am 50 yrs my doubts are: 

1. Is the below MF enough or is it too much? If i have to close some funds which ones to close? 

2. I have a housing loan of 65 lakh can i use the MF investment to clear the same?

My MFs are as below: 

HOLDINGS AS ON 1st November 2022

Scheme Name Invested Value Current Value Returns XIRR
HDFC Retirement Savings Fund Equity Plan Direct Growth 14999.24 16559.71 1560.477307 16.43%
UTI Long Term Equity Fund Direct Growth 19498.88 20326.63 827.7535724 7.16%
Parag Parikh Flexi Cap Fund Direct Growth 14999.2 15473.93 474.7245131 4.92%
Motilal Oswal Asset Allocation Passive FoF Aggressive Direct Growth 999.95 1052.04 52.0888116 4.48%
IDFC Tax Advantage (ELSS) Direct Plan Growth 13999.37 15039.63 1040.257178 12.98%
Kotak Bluechip Fund Direct Growth 19499.65 20814.18 1314.536521 11.31%
Canara Robeco Equity Tax Saver Direct Growth 13999.17 14879.03 879.8574 10.95%
Kotak Tax Saver Fund Direct Growth 27998.71 30544.75 2546.042107 15.29%
Aditya Birla Sun Life Corporate Bond Fund Direct Growth 32498.55 33342.47 843.9236482 4.44%
Mirae Asset Tax Saver Fund Direct Growth 29998.51 31241.27 1242.76146 6.81%
Canara Robeco Equity Hybrid Fund Direct Growth 13998.83 14727.89 729.06493 9.12%
Kotak Multicap Fund Direct Growth 12999.35 14462.41 1463.060518 19.21%
SBI Balanced Advantage Fund Direct Growth 20999.01 22217.09 1218.079844 9.96%
UTI Flexi Cap Fund Direct Growth 32498.81 32324.14 -174.6719205 -0.87%
SBI Multi Asset Allocation Fund Direct Growth 27998.57 29453.48 1454.907578 9.19%
Aditya Birla Sun Life Nifty SDL Plus PSU Bond Sep 2026 60:40 Index Fund Direct Growth 11999.4 12200.07 200.666444 3.01%

Ans: Further details required

Present age

Monthly Investment / SIP

There is no need to disclose your folio numbers.

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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Hardik Parikh  |106 Answers  |Ask -

Tax, Mutual Fund Expert - Answered on Apr 19, 2023

Hi, I am investing 24,000 as a SIP in following MF schemes since 2020. 1. HDFC Taxsaver - 5000 2. HDFC retirement saving - 2000 3. Mirae asset large cap fund - 3000 4. Axis small cap fund - 2000 5. Axis mid cap fund - 2000 6. Axis bluechip fund - 2000 7. Franklin india feeder - US Opp fund - 2000 8. Quant active fund - 3000 9. Parag Parikh flexi cap fund - 3000 Please advise if I need to make any adjustments. I want to make corpus of 1 CR by 2030.
Ans: Dear Surya,

It's great to see that you've been disciplined with your investments since 2020. Your portfolio comprises a mix of tax-saving, retirement, large-cap, mid-cap, small-cap, and international funds, which is a good sign of diversification.

Considering your goal of accumulating a corpus of ₹1 crore by 2030, let's look at your current investment approach and see if any adjustments are needed.

First, let's assume an average annual return of 12% on your investments, which is reasonable for equity-oriented mutual funds in the long term. With your current monthly SIP of ₹24,000, you will have invested ₹2,88,000 annually. By 2030, which is 7 years away, you would have invested ₹20,16,000 in total.

Using the assumed 12% annual return, the future value of your investment by 2030 would be approximately ₹33,38,000. This is significantly short of your ₹1 crore goal.

To achieve your target, you would need to increase your monthly SIP amount. Here's what you can do:

Review your financial situation and identify any areas where you can increase your monthly investments. You may need to invest around ₹50,000 per month to achieve ₹1 crore by 2030, assuming the same 12% annual return.
Reassess your portfolio and its asset allocation. While your current allocation seems well-diversified, it's important to ensure that it's aligned with your risk tolerance and investment horizon. You may need to make some changes to improve the potential for higher returns. Consider discussing this with a financial advisor to ensure your portfolio is optimized for your goals.
Regularly review your investments and their performance. It's essential to keep track of how your mutual funds are performing compared to their benchmark indices and peers. If you find any underperformers, consider replacing them with better-performing alternatives.
Remember that investing is a long-term journey and requires patience, discipline, and regular reviews. It's important to stay committed to your investment plan and make adjustments as needed to reach your financial goals.

Wishing you the best on your journey to ₹1 crore by 2030!

Warm regards,
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Moneywize   |66 Answers  |Ask -

Financial Planner - Answered on Mar 03, 2024

Asked by Anonymous - Mar 03, 2024Translate
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?
Ans: Transitioning to a new career in your late 30s while maintaining financial stability and planning for long-term goals like retirement requires careful consideration and planning. Here are some steps you can take to navigate this transition effectively:

1. Assess Your Skills and Interests: Reflect on your skills, interests, and values to identify potential new career paths that align with your strengths and passions. Consider seeking career counseling or taking career assessment tests to explore different options.

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.

3. Skill Development and Education: Determine if you need to acquire new skills or education to transition into your desired field. This could involve enrolling in courses, obtaining certifications, or pursuing higher education such as a degree or specialised training programme.

4. Financial Planning: Evaluate your current financial situation and create a budget to understand your income, expenses, and savings. Factor in any potential changes in income or expenses associated with your career transition. Consider setting aside an emergency fund to cover unexpected expenses.

5. Debt Management: If you have any outstanding debts, develop a plan to manage and pay them off efficiently. Prioritise high-interest debts like credit card debt while maintaining minimum payments on other loans.

6. Retirement Planning: Review your retirement savings accounts like the EPF, and assess whether you're on track to meet your long-term retirement goals. Consider consulting a financial advisor to develop a personalised retirement plan based on your age, income, risk tolerance, and retirement objectives.

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.

9. Side Hustle or Freelancing: Consider starting a side hustle or freelancing in your desired field while maintaining your current job. This can provide additional income, valuable experience, and a smoother transition into your new career.

10. Evaluate Risks and Rewards: Assess the risks and rewards associated with your career change, including potential income fluctuations, job stability, and work-life balance. Be prepared to adapt and make adjustments as needed throughout the transition process.

By following these steps and carefully planning your career transition, you can navigate the change while maintaining financial stability and working towards your long-term goals, including retirement.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.


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