Will I be able to make Rs 2 crore in 20 years?
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Rs 2,500 each in Aditya Birla Sunlife Tax Relief 96 and Tata India Tax Saver Fund.
Rs 2,000 in ICICI Prudential Bluechip Fund
Rs 1,000 each in Parag Parikh Long Term Equity Fund, HDFC Small Cap Fund and L&T Midcap Fund.
My query is whether these funds are good for my long-term goals (Rs 1.5-2 crore) and do I need to switch from any of the above funds to another funds in same or different category?
--Raunak Surana
Puneet Oberoi, Founder, Excellent Investment Advisorz, responds:
You are investing a total of Rs 10,000 per month.The funds you have choosen are good so you don't need to switch.
As far as you goal of accumulating Rs 2 crore in 20 years is concerned, you need to increase your SIP by Rs 8,000 per month to a total of 18000 per month. With assumed returns of 13 per cent, you will achieve your goal in 20 years.
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