Can I meet education goal of my daughter with current MF SIPs

I have started SIP of Rs 500 in SBI Magnum Midcap and Rs 500 in SBI Blue Chip, Rs 1000 in DSP BlackRock Small & midcap and Rs 1000 in L&T Midcap Fund. For my daughter higher education (eg Doctor etc) I want to build a corpus of Rs 2500000. Today her age is 4.5 years. Please confirm will this fund give me my require amount after 14 years?

Jul 21, 2017 by Nilanjan, Kolkata | Mutual Fund

You are currently investing Rs 3,000 through monthly SIPs and your goal is to get Rs 25 Lakhs when your daughter is 18 years +. Her age is now 4 and half years and therefore you have 14 years of time to build this corpus.

You have invested in balanced, mid & small cap and large cap funds and the scheme selection is okay. With assumed annual returns of 12%, you can expect a corpus of Rs 13.09 Lakhs after 14 years against your investment of Rs 5.04 Lakhs. Please check this https://www.advisorkhoj.com/tools-and-calculators...

As there is a shortfall, you will have to increase your monthly SIPs from Rs 3,000 to Rs 5,750 in order to reach the goal of Rs 25 Lakhs. Please check this https://www.advisorkhoj.com/tools-and-calculators...

Hope you find our suggestions helpful. Thanks for writing to Advisorkhoj.

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