I am 24, and I have started investing in mutual funds 500 rs a month and will gradually increase the amount (will be investing around 4000-5000 next month onwards).
1. Axis bluechip fund direct plan
2. icici prudential technology direct
If I have to accumulate 1-1.5 Cr by the age of 40 what amount of investment would be required and what kind of MF should I invest in. Willing to take moderate to high risk. Kindly advise a plan for the same. Also, is smallcase a better option than MF?.
Ans: To create a corpus of Rs. 1-1.5 crs in 16 years the monthly investment required is Rs. 16,000-Rs 24,000 respectively,
Depending upon the expertise you may choose between direct equity or MF.