Can my current SIPs enough to meet my goals

You have selected good funds from diversified, balanced, mid & small caps and ELSS category of funds to invest for your long term goals. Your total current monthly SIP is Rs 16,000.

Let us analyse how you can meet your financial goals?

1. If you can continue you current monthly SIPs of Rs 16,000 for 21 years, you can accumulate a corpus of Rs 1.96 Crores assuming annual returns @12.5%. Therefore, the funds you need at 7th, 14th and 21 years can easily be drawn from the accumulating SIP corpus.

2. However, if you want to chase the different goals by allocating separate SIPs for each one of them, then Rs 5,000 monthly SIP is enough for getting Rs 7 Lakhs after 7 years, Rs 3,500 monthly SIP is enough for meeting the target of Rs 15 Lakhs after 14 years and Rs 9,000 monthly SIP is enough to meet the retirement goal of Rs 1 Crore after 21 years. (We have assumed the annual returns @12.5%)

Hope the above helps! For knowing more about SIP calculations you can use this calculator https://www.advisorkhoj.com/tools-and-calculators/systematic-investment-plan-calculator. Thanks for writing to Advisorkhoj