Invest with a goal and monitor its progress
03-Jan-2011 •Research Desk
I have a monthly income of Rs 35,000. Can you suggest funds that I can invest in to build a corpus of Rs 1 crore over 10 years?
— Prashant Chari
Investing with a goal is a good start. You can build a corpus of Rs 1 crore in 10 years by investing Rs 30,000 a month in a fund with 18 per cent return or Rs 35,000 a month in a fund that earns 15 per cent. There are many funds that have consistently given such returns. Your investing philosophy should be to invest in a fund that is consistent, has a track record and is well rated. Typically, one tends to increase SIP contributions with time. It is wise to start and then increase your contributions gradually.