I am 36 years old. I have been investing in mutual funds via SIP for more than seven years now. My investments are in Reliance Mutual Fund (Growth fund, Equity Opportunities, Gold fund, and Power fund). I have recently started investing in HDFC Equity Fund and Motilal Oswal Multicap 35 Fund. I am investing Rs 13,000 per month in total.I have two queries:1. I want to build a corpus of Rs 1 crore by 2030 for my child’s higher education and my retirement. Where should I invest to reach my goal? I can also increase my SIP amount if required. 2. Considering the current market conditions, should I withdraw the amount I have earned in mutual funds till date and invest it in a FD? Should I continue with my SIPs?-Amit MalhotraRishabh Parakh, Founder, Money Plant Consultancy, responds:You have done the right thing by investing in mutual funds via SIP. However you have a lot of schemes from one fund house (Nippon India Mutual Fund) which might lead to concentration risk. Continue with your investments and do not worry about the temporary market movements. Assuming an annual return of 12%, you need to invest Rs 40,000 per month to achieve… Read full this story
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Will my mutual funds help me to create Rs 1 crore by 2030? have 319 words, post on economictimes.indiatimes.com at November 26, 2019. This is cached page on Bach Thien. If you want remove this page, please contact us.