Recently married and my age is 39 years old. I'm private job holder. I want to retired at the age of 50 yrs, by that time I'm planning for my saving should be around 2 crores.
Presently I'm investing in following schemes so please suggest is it enough for my retirement or want to make any addition or changes in below schemes.
I'm investing below schemes.
- SBI PPF: 9000/- pm -- 2019
- Post office RD: 5000/- pm – 2017
- LIC Jeevan Umang: 10000/- pm -- 2021
- ICICI term Insurance: 4000/- pm -- 2019
- Axis Small Cap fund: 5000/- sip pm -- 01/09/22
- Sbi multicap Fund direct Growth: 5000/- sip pm -- 01/09/22
Please tell me what about below mutual funds:
1) SBI MULTICAP FUND DIRECT GROWTH
2) Axis small cap fund direct growth
Ans: Hello Vara Prasad. Regarding your query, to achieve 2 cr corpus in the next 11 years till your retirement. From your current 38k sips, I would suggest increasing it to 60k sips per month.
In addition to the current SIPs, you can increase them by investing in categories like mid-cap, large & mid-cap, flexi cap, etc.