I want to create 3 crore in 15 years. I have started sip of 18333 in below funds. Is it wise to rely on only mutual fund to achieve my goal or should i start investing in other financial instruments like ULIP,PPF by considering the volatility of the market ? How much do I need to add more to achieve my goal.
This response is on the corpus expectations, and not on the specific funds chosen.
You are investing 18,333 per month. Even if we take a very generous assumptions of 15% CAGR, the corpus would be about 1.2 cr in 15 years. If you can increase the amount by 10% every year, the corpus could be about 2 cr. You can reach 3 cr in 15 years, if you start with an amount of Rs 28,000, increase it by 10% every year and are fortunate to get a return of 15% or more.
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Sachin Shah is a 30 year old Senior Software Engineer, working at an IT services company in Bengaluru. He and his wife want to plan for their retirement and also want to save for their child's education, wedding and for buying a car.View Case Study