Is A Monthly Investment Rs 9,500 Enough to Accumulate Rs 1 Cr in 10 years?
Yogesh Kumar Singh, Raebareli email@example.com
I am investing in six mutual funds, and my monthly investment is Rs 9,500. These are for the long-term, and I have been investing for the last three years. Is it possible to achieve Rs 1 crore in the next ten years?
With your present monthly investment of Rs 9,500, you will be able to accumulate around Rs 34.5 lakh at 12 per cent annualised return. You will need to invest in equity funds through an SIP of Rs 38,000 to accumulate Rs 1 crore after 10 years at 12 per cent annualised return.
Suhel Chander, Certified Financial PlannerCM, Handholding Financials