I want to invest Rs 15,000 per month in SIP in mutual funds. My net take home salary is Rs 57,000, after deducting tax and EPF of Rs 10,000 per month. I want Rs 50 lakh in 15 years for my first child and another Rs 50 lakh in 20 years for the second child's education, and Rs 5 core at the time of my retirement. --Manas Kumar BhartiYou have three long-term goals:One, Rs 50 lakh in 15 yearsTwo, Rs 50 lakh in 20 yearsThree, Rs 5 crore in 24 yearsSince all your financial goals are long term, you can consider investing in equity mutual fund schemes to achieve them. Assuming an annual return of 12 per cent, you need to invest Rs 9,900 to create a corpus of Rs 50 lakh after 15 years, Rs 5,000 to create a corpus of Rs 50 lakh after 20 years, Rs 30,000 to create a corpus of Rs 5 crore in 24 years.

Source: Economic Times January 24, 2018 11:48 UTC