Good mutual funds to make Rs 1 crore in 10 years

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I am 24 years old. My financial goal is to create Rs 1 crore in the next 10 years. Please guide me to reach my goal. How much should I invest (SIP) every month? What kind of mutual funds should I start with or maintain in my portfolio? Also please tell me if it is a good time to invest as we keep hearing about the recession in future. Please suggest some good mutual funds. My risk appetite is high.
-Akhil Kumar


One, you should invest around Rs 44,000 every month to create a corpus of Rs 1 crore in 10 years. We have assumed an annual return of 12 per cent for calculation.

A word of caution: Rs 1 crore may not be enough for your future goals. Always try to work with real numbers, annual inflation and taxes to reach a realistic target

Rs 1 crore or Rs 2 crore? Use real numbers, inflation, taxes for realistic retirement corpus
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You are creating a retirement corpus to draw a regular income to take care of your living expense after retirement. So, you can take your current annual living expense and inflate it for every year to find out its future value. Once you know this, you can calculate how much corpus do you need to generate the income at a modest rate.

You are creating a retirement corpus to draw a regular income to take care of your living expense after retirement. So, you can take your current annual living expense and inflate it for every year t..
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There is no universal inflation rate for all future goals. For examples, the inflation is very high for education, health care cost, etc. However, most financial planners believe you can use 7-8 per cent to calculate lifestyle inflation.

There is no universal inflation rate for all future goals. For examples, the inflation is very high for education, health care cost, etc. However, most financial planners believe you can use 7-8 per ..
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You should revisit the assumed inflation figures once in three to five years and take needed action in your portfolio. It will help you in achieving your financial goals in time.

You should revisit the assumed inflation figures once in three to five years and take needed action in your portfolio. It will help you in achieving your financial goals in time.

You are going to living another 20-25 years after retirement because of increased life expectancy due to advances in health care. This means you should have large retirement corpus. And what if you outlive your assumed expected life? You should be prepared for that as well.

You are going to living another 20-25 years after retirement because of increased life expectancy due to advances in health care. This means you should have large retirement corpus. And what if you o..
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Long term capital gains on equity mutual funds of over Rs 1 lakh are taxed at 10 per cent. You should also include the taxes in your calculations as you need to pay taxes every time you sell your investments, be it equity or debt mutual funds.

Long term capital gains on equity mutual funds of over Rs 1 lakh are taxed at 10 per cent. You should also include the taxes in your calculations as you need to pay taxes every time you sell your inv..
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Two, you should always choose your mutual funds based on your goals, horizons, and risk profile. Since you have a long horizon of 10 years and an aggressive risk profile, you may consider investing mostly in mid cap schemes. If you want to diversify and reduce the overall risk in your portfolio, you may also consider investing in multi cap schemes. Do not go overboard with mid cap schemes. Many new investors tend to believe they have a very high risk appetite, but they tend to get anxious when they face the real risk when the investments lose value sharply. Assess your risk once again to make sure that you are choosing the right mutual funds for you. If you are not familiar with mutual funds, you should consult a mutual fund advisor.

Here are some useful links
Best multi cap mutual funds
Best mid cap mutual funds

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Lastly, It is always the best time to start your investment. Since we cannot predict the market, it is not wise to base our investment decisions based on it.
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