I am 41 years old, with almost zero savings. Want to invest in mutual funds with no knowledge of the same. Want to have a corpus of INR 1,00,00,000/- within next 20 years of time for my child’s education. Can save 15k per month with a top up of INR 1,00,000/- per year after year 2024.
Kindly suggest funds to achieve said goal.
Ans: The schemes that you may consider are as under
- Samco Flexi Cap Fund - Growth
- Hdfc Index Fund - Sensex Plan - Growth
- Parag Parikh Flexi Cap Fund- Growth
Uti Mnc Fund - Growth Plan
The corpus that can be created in 20 years with Rs. 15,000 SIP and period lump sum post 2024 is nearly Rs. 2 crs.