I am 34years old. No investment or savings yet. I would like to start investment starting 2 lakhs a month. Advice me where to invest. My goals are
2crore education fund for my daughter in next 12 years. And my retirement 10 cores after 20 years.
Ans: It is never too late to start investing and take better care of your money!
1) For fulfilling your daughter's education goal after 12 years, you require to invest 65,000 monthly approx. (SIP) to accumulate a corpus of Rs. 2 Crore after about 12 years.
2) To accumulate retirement corpus of Rs. 10 crore at the age of 54 you need to invest 1,02,000 approx. monthly for next 20 year.
(we have assumed the growth rate at 12% for long term investment horizon)
Moreover, you wish to invest 2 lakhs per month. The balance amount can go for you other long-term goals (as mentioned by you) and wealth accumulation.
For a long-term investment horizon, consider equity mutual funds, which historically have shown potential for higher returns over the long term. Diversified equity funds or equity index funds could be suitable for a balanced approach. Popular choices include large-cap, mid-cap, flexi cap funds or small cap funds.