We want to build corpus of Rs 3 crore for our retirement and I am investing Rs 5,000 in HDFC Top 200, Rs 4,000 in DSPBR Top 100 Equity Reg and Rs 2,000 in HDFC Prudance. Is my fund selection is ok? Can I achieve my goal?
-Archana Sharma
Your goal of earning Rs 3 crore through mutual fund investing is not impossible. If you select a good fund, invest systematically and regularly, the diversity that a mutual fund offers can enable you to achieve your financial goal. You will need to invest Rs 11,000 earning 18 per cent for 22 years to reach your goal. Your fund selection is good and has the necessary performance to achieve this goal. But, make sure that you review the performance of the funds selected and track them at least once a year to check its progress. In case you wish to reach this target early, you will need to increase your contribution to achieve the goal.
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This article was originally published on December 29, 2010.
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