I have started the investment in my 20s I'm nippon small cap and hdfc mid cap and hdfc nifty 500 and cpse etf. I have started this investment through sip of rupee 100 per month in each mf. Is it good or bad decision and lumpsum amount if 1000 in quant tax plan.
Ans: Starting investments in your 20s is a commendable decision, setting a solid foundation for your financial future. However, investing just Rs. 100 per month in each mutual fund may not yield significant returns or build a substantial corpus over time. Such low contributions may be more suited for learning about the investment process rather than building wealth.
For optimal growth, consider increasing your SIP contributions gradually as your income allows. Aim for a more substantial monthly investment amount that aligns with your financial goals and risk tolerance. Lump-sum investments, like the Rs. 1000 in the Quant Tax Plan, are a good start, but regular and higher contributions can help accelerate wealth accumulation.
Also, review your investment choices periodically to ensure they align with your goals and risk appetite. Seek guidance from a Certified Financial Planner to create a comprehensive financial plan tailored to your needs, helping you make informed decisions for a prosperous financial future.