Hi Sir,
I need your advice on mutual funds in which I invested in the past and also doing SIP as follows: please advice.
1.ICICi Prudential Blue chip 2k SIP monthly value: 46k
2. ICICI value discoery fund 2k SIP monthly value: 2.64L
3.DSP Flexi cap fund: 2k sip monthly 3.93 Lakh value
4. HDFC top 100 fund growth sip: 4K value: 89k
5.HDFC mid cap 2k sip value 74K
6.Nippon india growth fund just started 2k SIP;
7. sundaram Large and mid cap fund 4k sip value :40K
8 sundaram mid cap sip 2k:
please suggest I need to accumulate rs.1 crore by 2033.
thanks
Ans: It's great that you're investing your monthly surplus in SIPs to build your wealth.
You have a well-diversified portfolio and the funds in your portfolio are performing well in the current market scenario. In the finance planning of any portfolio, we consider many factors, including client age, risk profile, current asset allocation, etc.
With your existing accumulated bulk investments of Rs 9.06 lakhs and ongoing SIPs of Rs 20,000 you will be able to accumulate the corpus after 9 years (2033) of Rs 64 lakhs with expected returns of 12%.
To achieve your wealth target of Rs 1 crore, it's advisable to increase your current investments. Considering your existing bulk investment of Rs 9.06 lakhs, an additional monthly investment of approximately Rs 39,000 is required. As you are already contributing Rs 20,000 per month through SIPs, an incremental SIP amount of around Rs 19,000 would be required.
