Will these schemes help me to make Rs 4 crore in 20 years?

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I am 24 years old and I want to invest in the following direct schemes via SIPs.
1. Invesco India Growth Fund: Rs 3,000
2. Principal Balanced Fund: Rs 3,000
3. Motilal Oswal Multicap 35 Fund: Rs 3,000
4. HDFC Small Cap Fund: Rs 3,000
Are these schemes good for long-term investment? If not, please suggest other schemes that are better. My investment horizon is 15-20 years. Are these schemes suitable for me to reach my long-term goal of making Rs 4-5 crore? I also plan to keep increasing my SIP investment.
-- Kamal Kumar
Gaurav Monga, a certified financial planner, responds:


The schemes you have selected are good for long-term investment. You should continue to invest in these schemes, but do keep track of their performance. If you invest Rs 12,000 for the next 20 years, assuming an annual rate of 12 per cent returns, you can make around Rs 1.20 crore. To be able to create a corpus of Rs 4 crore in 20 years, you need to invest around Rs 40,000 per month for the next 20 years. So, you need to continuously keep adding more to your monthly SIPs to achieve your goal.
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