Hi, I am 55 year old. I have been maintaining mutual funds portfolio of 80000 in the form of SIP. I want to know in what time i will get 10 crore. Thanks.
Ans: Achieving a corpus of 10 crore with an SIP of 80,000 per month starting at 55 is quite a stretch, given the shorter timeframe to retirement. The key considerations are the time horizon and the expected returns.
Given your age and the goal's timeline, it might be challenging to solely rely on mutual funds to reach the 10 crore mark without significantly increasing the investment amount or taking on higher risks.
Instead of aiming for a specific amount, consider focusing on creating a diversified portfolio aligned with your risk tolerance and financial goals. This approach can help you build wealth steadily without setting unrealistic expectations.
It would be prudent to consult with a financial advisor to assess your current portfolio, adjust your investment strategy if necessary, and explore other avenues like retirement plans or alternative investments that can complement your mutual fund investments. Remember, while ambitious goals are commendable, it's crucial to have a realistic and sustainable financial plan that considers various factors, including market volatility and personal circumstances.