I am 57 years old now and I have started investing in SIPs Nippon India Small Cap Fund Direct Growth 3000, Quant Small Cap Fund Direct Growth 1000, ICICI Prudential Small Cap Fund Direct Growth 1000, Canara Robeco Small Cap Fund Direct Growth 1000, Quant Manufacturing Fund Direct Growth 1000, Bandhan Nifty IT Index Fund Direct Growth 1000. My aim is to build a corpus of Rs. 50 Lacs in 10 years. Please advice if the investments done by me is in correct funds and also tell me how much more amount to invest in SIP to get the desired corpus. If you think any changes to be made in my portfolio, please suggest. Thanking you in anticipation.
Ans: Good morning,
We really don't know your risk appetite, but considering your age, we believe you should be tweaking your overall portfolio and shift more towards Hybrid and Largecap funds. Currently, you're only into Smallcaps and Sectoral funds, which might not be suitable for you.
You currently invest ~Rs. 8,000 per month and are looking to have a corpus of Rs. 50 lacs in 10 years. Assuming ~12% returns, you can accumulate a corpus of ~ 18 lacs approximately. Ideally you should be investing Rs. 20-25,000 per month to build such a corpus. Happy to help!