How much do I invest per month to increase my corpus from ₹27 lakh to ₹1 cr in 5 years?

—Name withheld on request

Considering a 10% annual return on your existing MF portfolio and future SIPs of ₹50,000 across the five funds, you will be able to build a corpus of approximately ₹81.75 lakh. If we assume an annual return of 12%, the corpus would be around ₹87.75 lakh. This will be a little short of your goal. To reach the goal of ₹1 crore at 60 years, you will have to invest ₹74,000 per month if we assume an annual return of 10% and ₹65,000 per month at a 12% growth rate. Hence, you may have to start investing a higher amount to achieve the goal.

Also, you should try to evaluate how much you would need for your post-retirement phase. This stage is mostly for 20 to 25 years. We are sure that along with your mutual fund portfolio, you would have assigned other assets too, for the post-retirement requirements. You may need more than ₹1 crore for your post-retirement stage.

The last thing you would want is to outlive the corpus or compromise on your retirement. From a funds perspective, you are investing in reasonably good funds and some of these funds may not be among the best funds, but you can continue with them at present and review them after a quarter to two. If you plan to add more SIPs to reach your goal, you may consider Canara Robeco Emerging Equities Fund or Kotak Equity Opportunities Fund.

Harshad Chetanwala is co-founder at MyWealthGrowth.com.