Hello, I'm 37 years old and I have started investing into mutual funds since last year. My current portfolio is at 1.62 lacs. My Target is 1.5 CR in 10 years. I'm investing 10k in quant Elss, 5k Tata small cap, my wife is investing 10k in Quant flexi cap. And I want to invest 60k per month for the next 3 years in SBI contra 20k, PPAFS flexi cap 20k and ICICI multi asset 20k. Please advise if I'm going in the right direction.
Noel
Ans: Noel, it's fantastic to see your commitment to building wealth through mutual funds. Your diversified portfolio showcases a strategic approach to investing across different market segments.
By investing in ELSS, small-cap, and flexi-cap funds, you're harnessing the potential for growth across various sectors and market capitalizations. These funds offer opportunities for capital appreciation over the long term, aligning well with your goal of reaching 1.5 crores in 10 years.
Your plan to increase investments to 60k per month for the next 3 years further demonstrates your dedication to achieving your financial objectives. SBI Contra, PPAFS Flexi Cap, and ICICI Multi Asset are reputable funds known for their performance and diversification benefits, providing a solid foundation for your portfolio expansion.
However, it's essential to periodically review your investments, monitor performance, and reassess your financial goals to ensure you remain on track. Consider consulting with a Certified Financial Planner to fine-tune your strategy and make any necessary adjustments along the way.
With discipline, patience, and strategic planning, you're well-positioned to progress towards your target of 1.5 crores in the next decade. Keep up the excellent work, and stay focused on your long-term financial success.
