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Will this mutual fund portfolio help me to make Rs 6 crore?


I am 37 years old and I am investing through SIP to create Rs 6 crore for my retirement at 50 years. I have a high risk profile and after consulting my financial advisor I have a ongoing SIP in following schemes (direct, growth):
Parag Parikh Flexi Cap Fund: RS 12,000
UTI Flexi Cap Fund: Rs 20,000
UTI Nifty Index Fund : Rs 20,000
Axis Midcap Fund: Rs 20,000
Mirae Asset Emerging Bluechip Fund: Rs 10,000
Please, let me know whether my strategy will work to achieve my goal. Please, let me know if there are any addition/deletion of above said funds for monthly SIP. (FYI: If it is needed, I can increase the SIP amount.)
–Carlyle Rebello

We do not know the content of your discussion with your financial advisor or how you decided on your investment strategy. So, it will not be fair for us to second guess the advisor.

Assuming an annual return of 12%, you need to invest around Rs 1.6 lakh every month to create a corpus of Rs 6 crore in 13 years. As you can see, you need to invest more to create your target corpus. You may have to revisit your target and assumptions in future if you are changing your investment allocation.



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