I want to make a corpus of Rs. 40 to 50 lakhs within 12 to 18 months. Can set aside Rs. 70K per month. How can I achieve this? Please guide

Ans: Hello. Thanks for writing to me. To create a corpus of Rs.5 Crore in the next 20 years, you will need to invest Rs.50,000 every month.

Ans: Hi Sanjeev, to create a corpus of Rs.1 Crore in 6 years, you will need to save around Rs.90,000 every month as SIP's.

You can start investing in:

1-Samco Flexicap Fund- Rs.18,000 per month.
2-Axis Business Cycle Fund-Rs.18,000 per month.
3-Axis ESG Fund Equity Fund Plan-18,000 per month.
4-Edelweiss NIFTY 100 Quality 30 Index Fund-Rs.18,000 per month.
5-UTI MNC Fund-Rs.18,000 per month.

Stepping up your SIP's every year by 10% or more will help you achieve your goals faster.

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.