I want to build a corpus of Rs 47 lakh, of which I will need Rs 14 lakh in 17years and the remaining Rs 33 lakh in 20 years. I am planning to invest Rs 5,000 through SIPs spread over DSPBR Top 100 Equity, UTI Dividend Yield, Quantum Long Term Equity, IDFC Premier Equity and HDFC Prudence. Please advice if this will achieve my goal.
-M S Seshadri
A monthly investment of Rs 2,100 for 17 years earning an annualized 12 per cent will accumulate Rs 14 lakh or Rs 1,500 for 17 years earning an annualized 15 per cent. Likewise, investing Rs 3,310 every month earning an annualized 12 per cent will accumulate Rs 33 lakh in 20 years or Rs 2,180 earning an annualized 15 per cent will accumulate Rs 33 lakh in 20 years.
Your monthly investments of Rs 5,000 should help you achieve the financial goals that you have set for your daughter’s future. The funds that you have selected to invest in are highly rated with a proven performance and track record.
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This article was originally published on August 31, 2011.
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