Can I increase or decrease my SIPs in between the investment period

I am 35 years of age and have invested in four mutual fund schemes since last 48 months. Please suggest if I should stay invested or increase / decrease SIP. I am open to add more funds (if required). My goal is to generate 3 cr by the time I turn 55. HDFC Prudence fund – Regular plan (G) SIP @ Rs 5000 p.m., ICICI Prudential Focused Bluechip Equity Fund - (G) SIP @ Rs 5000 p.m., ICICI Prudential Value Discovery Fund (G) SIP @ Rs 5000 p.m., SBI Emerging Businesses Fund - Regular Plan - (G) SIP @ Rs 5000 p.m?

Jun 30, 2017 by Manish Jaiswal, Noida | Mutual Fund

You have 20 years in hand to reach your goal of 3 Crores. To achieve this goal, you need to invest Rs 31,000 per month through SIPs in equity / equity oriented funds for next 20 years (this is based on assumption of 12% annual return).

If we change the assumption and consider even annual returns of 13%, 14% and 15%, you still need to save Rs 27,300, Rs 24,000 and Rs 21,200 respectively every month for next 20 years. Currently, you are investing Rs 20,000 per month and therefore, you need to increase your monthly SIP contributions immediately.

With regards to your scheme selection, it looks good excepting that you may consider replacing SBI Emerging Businesses Fund with SBI Magnum Midcap Fund. Though both are midcap funds, SBI Emerging Businesses Fund could not beat the category return in the last 1,3 and 5 years whereas SBI Magnum Midcap is a high rated fund with consistent performance track record in the last 3 years.

Wishing you best in achieving your long term goals!

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