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Creating a retirement corpus of Rs 50 lakh

Try to increase your investment amount as and when your salary goes up, so that you will reach your target without any difficulty

I am a 43-year-old computer professional. I just started investing in Sundaram Select Midcap Fund through a monthly Systematic Investment Plan (SIP) of ₹5,000. My aim is to create a retirement corpus of ₹50 lakh after 17 years. Is this achievable?
- Sidharth Puwar

Sundaram Select Midcap Fund is a three-star midcap fund. If you continue with your investment of ₹5,000 for the next 17 years and if your investment returns around 12 per cent per annum, you will be able to create a corpus of around ₹33 lakh. If your investment offers only 8%, you will have a corpus of ₹21 lakh. Try to increase your investment amount as and when your salary goes up, so that you will reach your target corpus without any difficulty.

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