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Ramalingam Kalirajan4045 Answers |Ask - Follow
Mutual Funds, Financial Planning Expert - Answered on May 14, 2024
Asked on - May 05, 2024Hindi
Hi I am 43 yrs old and have purchased a house in city and a second house in suburb and a plot so I have hardly any money left, earlier I thought of investing in SIP after two yrs but after going through the suggestions given to others I started investing in ICICI pru Blue chip G, 2000 rs this July I am planning to increase the amount by 2000 then next yr 10000 and next to next yr 15000. Can I accumulate around 1 crore in 12 to 15 yrs, if yes plz suggest where to invest with names as I have no idea and I am doing it for the first time, if no how much should I invest gradually in this three yr to accumulate 1 crore in 12 to 15 yrs and how
Ans: It's excellent that you've started investing, especially with a clear goal in mind. Let's outline a strategy to work towards accumulating 1 crore in 12 to 15 years and suggest suitable investment avenues for you.
Assessing Your Goal
Target Amount: Accumulating 1 crore in 12 to 15 years is achievable with consistent savings and strategic investments. However, it's essential to assess your risk tolerance, investment horizon, and expected returns realistically.
Investment Strategy
Increasing SIP Contributions: Your plan to increase your SIP contributions gradually is a prudent approach. By gradually increasing your investments over time, you can harness the power of compounding effectively.
Suitable Investment Avenues: Consider allocating your SIP contributions across a diversified portfolio of mutual funds to optimize returns while managing risk. Here are some suggestions:
Large-Cap Funds: Invest a portion of your SIP in large-cap funds like ICICI Prudential Bluechip Fund for stability and consistent returns over the long term.
Mid & Small-Cap Funds: Allocate another portion towards mid and small-cap funds like HDFC Mid-Cap Opportunities Fund or SBI Small Cap Fund for higher growth potential, albeit with higher risk.
Balanced Funds: Additionally, consider investing in balanced funds like HDFC Hybrid Equity Fund, which offer a mix of equity and debt, providing stability while capitalizing on growth opportunities.
Calculating Required SIP Amount
To determine the SIP amount required to accumulate 1 crore in 12 to 15 years, consider the expected rate of return and the investment horizon. Using a mutual fund SIP calculator, you can calculate the monthly SIP amount needed to achieve your goal based on these parameters.
Seeking Professional Advice
Given your first-time experience with investing, consider consulting with a Certified Financial Planner. They can help you develop a personalized investment plan, assess your risk profile, and recommend suitable investment avenues aligned with your goals and financial situation.
Starting your investment journey is a significant step towards achieving financial security. By setting clear goals, staying disciplined with your investments, and seeking professional guidance when needed, you're on the right path. Stay committed to your plan, monitor your investments regularly, and adjust as necessary to stay on track towards achieving your financial goals.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
Assessing Your Goal
Target Amount: Accumulating 1 crore in 12 to 15 years is achievable with consistent savings and strategic investments. However, it's essential to assess your risk tolerance, investment horizon, and expected returns realistically.
Investment Strategy
Increasing SIP Contributions: Your plan to increase your SIP contributions gradually is a prudent approach. By gradually increasing your investments over time, you can harness the power of compounding effectively.
Suitable Investment Avenues: Consider allocating your SIP contributions across a diversified portfolio of mutual funds to optimize returns while managing risk. Here are some suggestions:
Large-Cap Funds: Invest a portion of your SIP in large-cap funds like ICICI Prudential Bluechip Fund for stability and consistent returns over the long term.
Mid & Small-Cap Funds: Allocate another portion towards mid and small-cap funds like HDFC Mid-Cap Opportunities Fund or SBI Small Cap Fund for higher growth potential, albeit with higher risk.
Balanced Funds: Additionally, consider investing in balanced funds like HDFC Hybrid Equity Fund, which offer a mix of equity and debt, providing stability while capitalizing on growth opportunities.
Calculating Required SIP Amount
To determine the SIP amount required to accumulate 1 crore in 12 to 15 years, consider the expected rate of return and the investment horizon. Using a mutual fund SIP calculator, you can calculate the monthly SIP amount needed to achieve your goal based on these parameters.
Seeking Professional Advice
Given your first-time experience with investing, consider consulting with a Certified Financial Planner. They can help you develop a personalized investment plan, assess your risk profile, and recommend suitable investment avenues aligned with your goals and financial situation.
Starting your investment journey is a significant step towards achieving financial security. By setting clear goals, staying disciplined with your investments, and seeking professional guidance when needed, you're on the right path. Stay committed to your plan, monitor your investments regularly, and adjust as necessary to stay on track towards achieving your financial goals.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
Asked on - May 14, 2024 | Answered on May 15, 2024
Thank you so much for the guidance
Ans: Welcome :)