-- Leo Maritian
Karthik Swaminathan, a Certified Financial Planner, responds:
I understand that you already have saved Rs 45 lakhs of your Rs 1-crore goal. So, I am assuming you need to achieve the remaining Rs 55 lakhs. Given that you have a surplus amount of Rs 1 lakh, I would say that it is very much possible to achieve your goal. To achieve your goal invest the Rs 1 lakh you have in mutual funds via SIPs. You can select some schemes from my recommendations given bellow.
1. L&T Midcap Fund
2. Mirae Asset Emerging Bluechip Fund
3. Reliance Growth Fund
4. Sundaram Rural India Fund
5. UTI-Nifty Index Fund
6. L&T Infrastructure Fund
7. Tata Large Cap Fund
8. Sundaram Select Focus Fund.
However, I would suggest that you should aim for at least Rs 1.5-crore corpus and accordingly invest around Rs 30,000 per month additionally in mutual fund schemes to achieve this goal.