I am currently investing Rs 50,000 a month through SIPs in equity mutual fund schemes. I will need Rs 15 lakh after three years when I am planning to get married. How should I ensue this money is available for me?
Gayatri Shankar, Bangalore
Investing in equity mutual funds with an eye for growth is the right approach to investing systematically. However, the time period of investment is too short and risky, especially since you have the aim to use this investment for your marriage. If you have been investing through SIPs for long, you could start moving the SIPs from 6-8 months before your marriage to an ultra short-term fund or liquid fund. This way, you would cushion the impact of volatility in the stock markets on your investment corpus.
