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Omkeshwar Singh Answer  |Ask -

Head, Rank MF - Answered on Dec 07, 2022

Asked on - Dec 07, 2022Translate

I am a working class man and have started SIP in following funds from the last 6 months. Can invest till my retirement i.e. for the next 23 years period.

My total monthly SIP is of Rs 22,000, I can increase Rs 500 in each fund (i.e. 15% step up) every year based on my salary. For the next 13-15 years I can take high risk out of 23 years. My other investments are PF (21600(employer) + 21600(employee)) yearly and can start Rs 50,000 yearly in NPS for tax saving.

Looking for a combined corpus of 8-10 crore till retirement for my child's education (1 year old) and for my retirement savings, Can I achieve this with my SIP and other investments?

Kindly guide /provide your expert opinion whether any of my funds are overlapping or needs to be discontinued or any new funds needs to be added to meet my target corpus.

1. Mirae Asset Global Electric & Autonomous Vehicles ETFs FundofFund (Direct Growth) - Rs 1,000 -Active
2. canara Robeco Bluechip Equity Fund (Direct Growth-Large Cap) - Rs 3,000 -Active
3. ICICI Prudential US Bluechip Equity Fund (Direct Growth-Sectoral/Thematic) - Rs 3,000 -Active
4. PGIM India Flexi Cap Fund (Direct Growth) - Rs 3,000 -Active
5. PGIM India MidCap Opportunities Fund (Direct Growth) - Rs 3,000 -Active
6. Quant Active Fund (Direct Growth-Multicap) - Rs 3,000 -Active
7. Quant Small Cap Fund (Direct Growth) - Rs 3,000 -Active
8. Quant Tax Plan (Direct Growth-ELSS) - Rs 3,000 -Active
9. Axis Long Term Equity Fund (Direct Growth-ELSS) - Rs 3,000 -Paused 

Ans: Funds are fine, with a monthly investment of 22000 with an annual step up of 15% the corpus that can be created is Rs 10 -12 cr in 23 years.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.


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