Good mutual funds to make Rs 1 crore in 10 years
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One, you should invest around Rs 44,000 every month to create a corpus of Rs 1 crore in 10 years. We have assumed an annual return of 12 per cent for calculation.
A word of caution: Rs 1 crore may not be enough for your future goals. Always try to work with real numbers, annual inflation and taxes to reach a realistic target
Rs 1 crore or Rs 2 crore? Use real numbers, inflation, taxes for realistic retirement corpu...
Real numbers? What is that?
Two, you should always choose your mutual funds based on your goals, horizons, and risk profile. Since you have a long horizon of 10 years and an aggressive risk profile, you may consider investing mostly in mid cap schemes. If you want to diversify and reduce the overall risk in your portfolio, you may also consider investing in multi cap schemes. Do not go overboard with mid cap schemes. Many new investors tend to believe they have a very high risk appetite, but they tend to get anxious when they face the real risk when the investments lose value sharply. Assess your risk once again to make sure that you are choosing the right mutual funds for you. If you are not familiar with mutual funds, you should consult a mutual fund advisor.
Here are some useful links
Best multi cap mutual funds
Best mid cap mutual funds
Lastly, It is always the best time to start your investment. Since we cannot predict the market, it is not wise to base our investment decisions based on it.