I am 39 years old. My goal is to build ₹90 lakh by the age of 65. I want to know in which mutual fund should I invest? I am only investing in Public Provident Fund (PPF) now.
- Kumar
You have almost 25 years to create ₹90 lakh. You can build that amount if you invest around ₹9,000 every month for the next 20 years and if the investment gives you around 12 per cent per annum. You will have to invest around ₹13,000 every month for next 20 years if the investment makes around 9 per cent per annum. We have assumed that you would retire at 60. That is why we have taken an investment period of 20 years.
You can use this tool to find out how much you need to invest to create a target corpus.
This article was originally published on December 14, 2015.