Please suggest mutual funds, SIP amount to create retirement fund?
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Time horizon: 12 years
Goal: Retirement planning / Rs 2.2 crore for wealth creation
Risk profile: High
Please suggest mutual fund schemes and SIP amount required in each of them to meet my goal.
Also, I have invested a lumpsum of Rs 1 lakh in L&T Emerging Businesses Fund - Direct (G) in April 2018, and started an SIP of Rs 10,000 in it.
-- Chhote Lal Vishwakarma
Ankita Tanna Narsey, Founder, Oaktree Financial Advisors, responds:
To create a corpus of Rs 2.2 crore at the end of 12 years (which would be Rs 4 crore - considering inflation), you need to invest about Rs 50,000 per month in highly aggressive mutual fund schemes. Please note, highly aggressive mutual funds come with higher risk.
You may consider investing in smallcap funds, midcap funds and multicap funds to achieve your goal.
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