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Girish
Girish
Omkeshwar

Omkeshwar Singh Answer  |Ask -

Head, Rank MF - Answered on Dec 07, 2022

Asked on - Dec 07, 2022Translate

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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.

Funds:
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.

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