Can I reach my goal of Rs 1 Crore by investing in mutual fund SIPs

I have done my investments through HDFC I want to build a corpus of 1 crore in 20-25 years and invested 6000 per month through these direct growth funds. Can I reach my goal HDFC Top 100 - 2000, HDFC Midcap Opportunities Fund - 1000, HDFC Smallcap Fund - 1000, HDFC Equity Fund - 1000, HDFC Capital Builder Value Fund - 1000?

Jan 16, 2019 by Akash, Kolkata | Mutual Fund

Glad to know that you are investing through mutual fund SIPs for meeting your long term financial goals.

Currently you are investing in 5 equity schemes of HDFC mutual Fund and the monthly SIP amount is Rs 6,000. We assume you can get around 12% annualized returns on these SIPs. Therefore, you can accumulate a corpus of Rs 60 Lakhs or Rs 1.13 Crores at the end of 20 or 25 years respectively.

Please check this tool - https://www.advisorkhoj.com/tools-and-calculators...

As you can see, reaching the goal of Rs 1 Crore is not possible in 20 years. Therefore, you need to increase your monthly SIP amount by around 10% to reach this goal in 20 years. However, if you can wait till 25 years, then the current monthly SIP amount is sufficient.

Wishing you good luck!

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