I am Sandip Kumar Sahu, 27-year-old. My monthly in-hand salary is 57,000 after deduction of 7500 in PPF. I have a SIP of 10,000 per month and have a portfolio of 1 lakh and every month I buy some stock and have a portfolio of 1 lakh. I manage to save 10-15k after all this investment. How can I best invest these savings to generate a corpus of Rs 10 crore by the time I turn 55 years. Please help me achieve my financial dream.
Ans: Sandip, you're already on a good path with your savings and investments at this young age. Your aspiration of achieving a 10 crore corpus by 55 is ambitious and achievable with disciplined planning.
Firstly, ensure you have an emergency fund set aside, typically 3-6 months of living expenses. Once that's in place, focus on building a diversified investment portfolio.
Given your age and risk appetite, consider allocating a significant portion (around 70-80%) to equity investments for higher growth potential. Equity mutual funds or index funds can be good choices for systematic and disciplined investing.
For the remaining 20-30%, consider debt instruments like fixed deposits or debt mutual funds for stability and to balance out the risk.
Regularly review your portfolio, adjust your investments based on market conditions and your financial goals. Remember, the key is consistency and patience. Compound interest will play a significant role in growing your wealth over time.
Lastly, consider consulting a financial advisor to tailor a plan specific to your needs and aspirations. Here's to your financial success!
