How much to invest to meet target amount of Rs 2 Crores

I have Invested in MF and currently doing SIP of Rs. 2000 in following mentioned MF's. My Monthly expenses are Rs. 30,000, I am 29 years old working professional and will work for another 11 years before retiring at age of 40. My target amount at retirement is 2 crore. Please help me and analyse my investment. Scheme Details Category Current Value based on NAV Current Value Monthly SIP Aditya Birla Sun Life Equity Fund - Growth - Direct Plan: EQUITY - 706.9400, Rs. 11,41,121.34; Rs. 5000, Aditya BSL Tax Relief'96 Fund - (ELSS U/S 80C of IT ACT) - Growth - Direct Plan: EQUITY - 29.9800, Rs. 1,14,209.53 Rs. 10000; Indiabulls Liquid Fund - Direct Plan - Growth: CASH - 1876.0869, Rs. 47,211.73, Rs. 0; Kotak Standard Multicap Fund - Direct - Growth EQUITY 35.5410, Rs. 4,36,923.96, Rs. 50000?

Aug 26, 2019 by Dhiraj, Chennai  |   Mutual Fund

From your query, it is not clear how much exactly you are investing every month to meet this goal after 11 years.

For your information, please note that a monthly SIP investment of Rs 72,000 is required to meet the goal of Rs 2 Crores after 11 years, assuming you are getting 12% annualized returns from SIPs in equity mutual funds

You have mentioned doing only Rs 2,000 monthly SIP which is obviously very less from what you need to save. But you have some lump sum investments as well! We are not sure if the current values mentioned for these investments are of the lump sum amount invested earlier or you are running SIPs in them!

We can reply better if you provide us complete details of the lump sum as well as the SIP investments.

In the meanwhile, please note that the funds selected by you are among good performers.

Please reply with further details through the DISQUS comment below.

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