I would like to invest Rs 5,000 through SIPs for my son’s education expenses 15 years from now. I intend to save Rs 20 lakh by then with these investments. What is the best way of investment to achieve this goal?- Priya Mahadevan
Investing from now for a goal that is 15 years ahead is like planning a tree that will start reaping fruits later and systematic investment plan is the best method for long-term wealth creation. If your monthly investment of Rs 5,000 earns an annualised 12 per cent you will have a Rs 25.22 lakh corpus in 15 years or Rs 33.84 lakh if the same investment earns an annualised 15 per cent return. You can expect similar returns from mutual investments through SIPs. You should start investing in a large-cap fund such as Franklin India Bluechip or ICICI Prudential Focused Bluechip Equity which are highly rated funds with a proven track record and performance history.