I want to create ₹1 crore in 15 years. I want to know which are the best balanced mutual funds schemes and best diversified equity mutual funds schemes that will help me to achieve this goal?
- Nagarajan
Assuming a return of 12 per cent per year, you have to invest around ₹20,000 every month for the next 15 years to create a corpus of ₹1 crore. You can start a monthly Systematic Investment Plan (SIP) in a balanced scheme or diversified equity scheme depending on your risk appetite. We typically recommend balanced schemes to novices in the stock market. You must keep in mind that it is extremely important to continue with your regular investments irrespective of the market conditions to achieve your goal. Start shifting the money to a safer avenue like a bank deposit or liquid scheme one or two years before the goal. This will ensure that a sudden volatility in the stock market do not upset your plans.
Here is our list of best balanced schemes.
Here is our list of best diversified equity schemes.
This article was originally published on January 20, 2016.
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