I am 38 years old, I want 1 crore for my daughter after 10 years, 2 crore for retirement

1. Axis Blue Chip 6000

2. Mirar Asset India Equity 5000

3. Mirar Blue Chip 5000

4. Axis Midcap 3000

5. SBI Smallcap 5000

6. ICICI Pru Nifty Next 50 Index 2000

7. Canara Robeco Bluechip 5000

8. HDFC Small Cap 2000

I am 38 years old and I want 1 crore for my daughter after 10 years and 2 crore for retirement after 25-30 years

Virendra Singh Shekhawati

(Responds to Harshad Chetanwala, founder of MyWealthGrowth.com)

your monthly investment Can help you deposit 33,000 73 lakh on 12% p.a. return or 66 lac 10% p.a. This amount is based on SIP from today as we do not know your accumulated corpus as of now. If you have current fund from 10 lakhs 14 lakh in the above fund or equity then you will be able to achieve the goal of education 1 crore for your daughter along with your monthly SIP. But, if the current corpus is less then you have to either increase your SIP in future or use your other savings to take care of this goal.

For your retirement, if you continue to invest 33,000 every month after withdrawing the entire corpus for your daughter’s education you will be able to create a corpus of Rs 1.55 crore at 12% p.a. return.

You can try to increase your SIP by 5% every year, this will help you get much closer to the goals that you have planned for yourself in my view. I would also suggest that you reevaluate the retirement fund you are looking for: 2 crore may be less, given inflation and continued improvement in life expectancy.

On equity fund portfolio, the funds you are investing in are good and you can continue with these funds at present.

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