Hi Mr. Ramalingam. I am a 22 year old girl working as a freelance consultant earning fixed of Rs. 60000 per month and fluctuating between 15000-20000 per month. I current have a equity portfolio of Rs.79000 and SIP of Rs.10000 every month into Nifty next 50 and Midcap and smallcap funds. I want to make Rs. 1 crore by age of 30. Kindly suggest how I can reach this goal
Ans: To reach your goal of Rs. 1 crore by age 30, you'll need a disciplined approach to investing and potentially higher returns. Consider increasing your SIP amount as your income grows. Diversify your portfolio across different asset classes, including equity, debt, and possibly international funds for better growth prospects and risk management. Regularly review and rebalance your portfolio to ensure it aligns with your goal and risk tolerance. Additionally, consider other avenues like side hustles or freelance projects to boost your income, which can accelerate your investment growth towards the target amount. Start early and stay consistent with your investment strategy.