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How much should I invest in mutual funds to create Rs 3 crore?

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ET Online|
Dec 11, 2019, 11.15 AM IST
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I am 28 years old. I want to build a corpus of Rs 3 crore by the time I am 58 years old. How much do I need to invest? Also, which schemes should I consider? Also, which are the best mutual funds to invest at 61?
---Ashish Roy

Shifali Satsangee, Founder, Funds Veéda, responds:

To achieve a corpus of Rs 3 crore in the next 30 years, you need to invest Rs 8,500 per month, assuming an annual return of 12%. I am also assuming that you are a first-time investor, and have a moderate risk appetite, with a long-term investment horizon. You can start your monthly SIPs in:
Kotak Standard Multicap Fund: Rs 4,000
Mirae Asset Emerging Bluechip Fund: Rs 4,500

If you are an aggressive investor, you can also start an SIP in a small cap or mid cap fund.

For a 61-year-old person, equity can be a risky option. However, if all the other things are in place, like monthly funds and a retirement corpus, you can take the risk. Please seek the help of a mutual fund advisor or financial planner for a personalised advice.

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