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Sanjeev

Sanjeev Govila  | Answer  |Ask -

Financial Planner - Answered on Dec 06, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more
Mir Question by Mir on Nov 29, 2023Hindi
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Thank you sir for your valuable feedback. I'll give some details in brief about myself and my goals in points. 1) I am 28 presently working in PSU(Bank) unmarried. 2)I've started sip last month with 20k(2 small cap, 2 flexicap, 1 Midcap, 1 largecap fund). 3)my goal is to reach corpus of 1 crore in 15 years. 4) I want your guidance in achieving my goal. 5)presently I have not taken any loans so no EMI , also I've started RD of 7k per month.

Ans: Based on the details you have provided, here’s a breakdown of your financial situation and
steps you can take to achieve your goal of reaching a corpus of Rs. 1 crore in 15 years:

Current Financial Situation:
• Age: 28 years (Unmarried)
• Occupation: Working in PSU (Bank)
• Monthly SIP: Rs. 20,000 (diversified across large-cap, flexi-cap, mid-cap, and small-cap
funds)
• Monthly RD: Rs. 7,000
• No outstanding loans or EMIs

Financial Goal:
• Accumulate a corpus of Rs. 1 crore in 15 years.

Guidance to Achieve Your Goal:
With the SIPs of Rs 20,000 assuming the returns of 12%, you are on the right track to
achieving your goal of reaching a corpus of Rs 1 crore in 15 years. However, taking the
inflation into the account, the value of today’s 1 Cr would not be the same at the time of the
year of your goal. Hence, we recommend you to increase your SIPs on a yearly basis.

Here are some additional tips to help you reach your goal:

1. Continue with SIPs and RDs: Maintaining your regular SIP and RD contributions is crucial
for building your corpus over time. The power of compounding will work in your favour as
your investments grow over the years.

2. Evaluate SIP Allocation: Review your SIP allocation periodically to ensure it aligns with
your risk tolerance and investment goal. As you approach your goal, you may consider
shifting your allocation to safer instruments.

3. Increase SIP Contribution: If possible, consider increasing your monthly SIP contribution
as your income grows. This will accelerate your progress towards your goal.

4. Stay disciplined: It is important to stay disciplined with your investment plan, even when
the market is down. Don’t panic and sell your investments. Instead, ride out the waves and
continue to invest for the long term.
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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I'll give some details in brief about myself and my goals in points. 1) I am 28 presently working in PSU(Bank) unmarried. 2)I've started sip last month with 20k(2 small cap, 2 flexicap, 1 Midcap, 1 largecap fund). 3)my goal is to reach corpus of 1 crore in 15 years. 4) I want your guidance in achieving my goal. 5)presently I have not taken any loans so no EMI , also I've started RD of 7k per month.
Ans: It's fantastic that you're proactively planning for your financial future at such a young age. Here's a tailored guidance based on your details:

Start Early Advantage: Your decision to start SIPs and an RD at 28 is commendable. Starting early gives you a significant advantage in wealth accumulation due to the power of compounding.
Diversification: Your portfolio of SIPs in small-cap, flexi-cap, mid-cap, and large-cap funds shows good diversification across different segments of the market. Continue monitoring the performance of these funds and consider rebalancing if needed.
Goal Clarity: Your goal of reaching a corpus of 1 crore in 15 years is specific and measurable, which is crucial for effective financial planning. Keep reviewing your progress towards this goal periodically and make adjustments as necessary.
Regular Review: Stay updated with the performance of your investments and periodically review your financial plan. Consider increasing your SIP contributions over time as your income grows or if you have surplus funds.
Emergency Fund: Ensure you have an emergency fund set aside to cover unexpected expenses or financial setbacks. Aim to build an emergency fund equivalent to 6-12 months of your living expenses.
Stay Informed: Continue educating yourself about personal finance and investment strategies. Consider seeking advice from a Certified Financial Planner for personalized guidance tailored to your specific financial situation and goals.
By staying disciplined, continuing your SIP contributions, and periodically reviewing your financial plan, you're on the right track to achieving your goal of reaching a corpus of 1 crore in 15 years. Keep up the good work, and remember that consistency and patience are key to long-term wealth creation.

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Ramalingam

Ramalingam Kalirajan  |7453 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 01, 2024

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Hi Sir Sangayya hear from Karnataka my age is 43 from last 3 years I started my SIP details r as below 1 ELSS - 5 sips each 1k 2. Large & mid cap fund - 3 sips 1k each 3. Thematic fund - Franklin India opp - 5k 4. Multi asset allocator - Tata 5k 5.Flexi cap fund - 2 Sips 1k each 6. Dynamic Asset - Edelweiss balanced Adv fund 1k 7. Small cap - Nippon India 1k Total monthly 22k is my investment kindly suggest I want to build my corpus 1cr in another 10 year & how much I have to invest more to achieve Target
Ans: Hello Sangayya, it's great to see your commitment to building your financial future through SIP investments. Let's break down your goal of reaching a corpus of 1 crore in 10 years and assess your current investment approach:

Review Current Investments: Evaluate the performance of your existing SIPs relative to their benchmarks and peers. This will help you understand if adjustments are needed to optimize your portfolio for growth.
Assess Required Monthly Investment: To reach a corpus of 1 crore in 10 years, you'll need to calculate the required monthly investment based on your expected rate of return. This depends on factors like the type of funds you're investing in and prevailing market conditions.
Consider Increasing SIP Amount: If your current monthly investment of 22k isn't sufficient to reach your goal, you may need to increase your SIP amounts or explore additional investment avenues. A Certified Financial Planner can help you determine the optimal investment strategy based on your risk tolerance and financial goals.
Stay Consistent and Patient: Building a substantial corpus takes time and discipline. Stay committed to your investment plan, continue SIPs regularly, and avoid making emotional decisions based on short-term market fluctuations.
Regular Portfolio Review: Periodically review your portfolio's performance and make adjustments as needed. Rebalancing your investments and exploring new opportunities can help you stay on track towards achieving your financial goals.
Remember, while setting ambitious targets is commendable, it's essential to ensure that your investment strategy is realistic and aligned with your risk tolerance and financial capacity. With careful planning and perseverance, you can work towards building a significant corpus over the next decade.

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Me and my boyfriend in a relationship from 5 years. My parents are happy with our relationship, but not his. I am Christian and he is Hindu. He tried to run away a few months ago to another state but his father spoke to authorities and caught him at an airport. He is now being monitored and has no way to escape. We want to seek legal help to get married but not sure where to look. We tried to look into special marriage act, but it requires 30 days notice meaning, his parents might find out and things get worse. Any advise is much appreciated on what help we can get legally.
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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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