Can I meet my financial goals with current mutual fund SIP and lump sum investments

Your current monthly SIPs are just Rs 5,000 ( Rs 1,000 x 5 funds of SBI mutual fund) in good schemes across various equity fund categories. Our first take is that instead of 5 funds you should have invested only in one or two funds and could have monitored your investments better.

With Rs 5,000 monthly SIP you can expect to reach a target corpus of Rs 6.60 Lakhs or 13.73 Lakhs respectively after 7 years or 11 years. This is based on 12% annual return assumptions. Please check this tool https://www.advisorkhoj.com/tools-and-calculators...

Your lump sum investments of Rs 215,000 can get you another Rs 4.75 Lakhs or 7.75 Lakhs respectively after 7 or 11 years. Please check this tool https://www.advisorkhoj.com/tools-and-calculators...

We find that with your current investments (SIP and lump sum), you are likely to meet the marriage goal of Rs 20 Lakhs of your son after 11 years. Meeting your retirement goal with current investments is not at all possible and therefore, you need to plan your investments better as you are only 7 years away from your retirement.

Wishing you good luck!