I want to save a total corpus of ₹40 lakh over the next 10 years. I can afford to invest ₹25,000 a month. Please suggest a few good schemes to invest in. —Kshitij Pai It’s good to plan for the future much in advance.
Goal-based planning always helps in determining the right asset mix. You need funds in 10 years for which you can invest ₹25,000 per month.
The principal amount accumulated will be ₹30 lakh in 10 years and if you add the income earned (assuming 9%), you will be able to accumulate a corpus of ₹43.90 lakh.
And at 10%, the corpus will become ₹51.60 lakh. This is assuming you don’t increase savings at all. Therefore, if you want to avoid additional risks to your investments, you need to start saving early. I plan to retire