Hi, Me and my wife's income is 2.70 Lacs (take home). We need to build a corpus of 10 Cr for our retirement. We both are 42 yrs and have a daughter aged 12 yrs. Our investments are below Sukanya Samruddhi 1.5 lacs Annually PPF 2 Lacs (combined for 3 of us) NPS 10k each per month MF 15k SIP by me 5k SIP by my wife LIC 52k premium annually by me 10k premium by wife Term Life 1 Cr each for me and wife HDFC Sanchay Plus plans for myself 16 premium PA & 3 Premium for my wife. Would this be sufficient to create a corpus targetted. In addition to above we have EPF accumulation of around 15 lacs each. Thanks and Regards

Ans: Your current investment strategy covers a good range of instruments and provides a solid foundation for retirement planning. Here's a breakdown of your current situation and some suggestions to consider for reaching your Rs. 10 crore corpus target:

Positive Aspects:

Regular Savings: You're consistently contributing to various investment avenues like PPF, NPS, SIPs, and LIC premiums.
Debt and Equity Mix: A mix of debt instruments (PPF, NPS, Sukanya Samriddhi) and equity (MF SIPs) provides some stability and growth potential.
Term Life Insurance: Having term life insurance ensures financial security for your family in case of an unfortunate event.
Areas for Potential Review (consult a financial advisor for personalization):

Corpus Target and Investment Timeframe: Consider reaching out to a Certified Financial Planner (CFP) to assess your specific needs and calculate a more personalized corpus target based on your desired retirement lifestyle and inflation. You have 23 years until retirement (considering retirement at 65).
Investment Allocation: While the current allocation is balanced, you might need to increase your equity exposure (SIPs) gradually over time, considering your long-term investment horizon. A CFP can help determine the ideal asset allocation for your risk tolerance and goals.
Review Existing Investments: Analyze the performance of your existing Mutual Funds and consider portfolio rebalancing if needed to maintain your desired asset allocation. Explore potential tax-saving options within your SIPs (ELSS funds).
Review Endowment Plans: While LIC policies offer life insurance and savings, their returns might be lower than pure investment options. Consider if these plans align with your goals. Speak to your advisor about potential alternatives.
EPF: The accumulated EPF amount will be added to your retirement corpus.
Additional Tips:

Increase Investment as Income Grows: If your income increases, try to raise your SIP contributions to accelerate corpus building.
Emergency Fund: Maintain an emergency fund with 3-6 months of living expenses to cover unexpected costs. Park this in a liquid instrument like a savings account or short-term debt fund.
Review and Rebalance: Regularly review your portfolio performance (at least annually) and rebalance if needed to maintain your desired asset allocation.
Reaching your Rs. 10 crore target might require some adjustments:

Increasing your SIP contributions significantly over time will be crucial.
Consider increasing your equity allocation within your SIPs as you near retirement (gradually shift towards debt instruments closer to retirement).
Remember:

This is a general overview, and consulting a CFP is highly recommended for a personalized plan considering your specific situation, risk tolerance, and goals.
Disciplined investment and staying invested for the long term are essential for achieving your retirement goals.
By strategically reviewing your investments, potentially increasing contributions, and staying disciplined, you can significantly increase your chances of achieving your desired retirement corpus.