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
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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