Hi Nikunj, I want to buy a car worth 40 lakh in 2 years. How much should I invest through SIPsand in which to invest to reach that goal?
Also I wish to buy a plot and construct a house in 3 years. Instead of taking loan I want to invest in SIP and construct with my money so that I can save on interest and time. Please suggest.
I am 45 and can invest 1 lakh per month. Note: I don't know ins and outs of the Large, Mid and Small or any other financial terms, so please suggest some names where I can start investing. Thank you very much.
Ans: Hello Stanley Stevenson. To reach the goal of buying a car, you can start the sip with monthly amount of 1.47 lakh. Additionally for your home goal, you can start the sip in below mentioned schemes:
- HDFC Balanced Advantage Fund
- Mirae Asset Hybrid Equity Fund
- Canara Robeco Bluechip Fund
- ICICI Prudential Bluechip Fund
- SBI Large & Mid cap Fund