Mutual fund? How can I achieve ₹50 lakhs in 5 years by investing ₹20,000 per month in mutual funds?

Hi, thanks for asking this question which I think I'll be able to answer in a relatable way.

First of all, achieving ₹50 lakhs in 5 years by investing ₹20,000 is not possible through any mutual funds. But since I achieved this milestone in 5 years, I'll be able to give you a better idea in the process.

In 2020, I had ZERO savings and many bad debts on my shoulder. I took an action plan to remove those debts by paying off as much as possible from my monthly income and I did it.

I started of my investing journey since October’2020 with only ₹25,000 per month. And then, as my income and savings grew, I increased my monthly SIP as well. In 2021 my SIP amount was around ₹32,000 and in 2022 I managed to invest around ₹60,000 per month.

At present, my monthly SIP stands at ₹1,40,000 and finally I have achieved 50 Lakhs milestone in this June itself.

I started building the below portfolio since April’2022

So in exactly 5 years, I achieved this goal where my invested amount is ₹37,20,000 and current market value is almost 50.83L. When I see this figure, it gives me immense confidence which I was lacking even 5 years back. I could not even imagine that I'll be able to get rid of those bad debts ever and will reach this figure in such a short span.

In my opinion, everything is possible if you possess a strong will towards something. But one must invest in himself/herself first so that the income grows exponentially. And if income grows, the investment should also grow simultaneously.

I have learnt from my mistakes, and I hope with this answer, many others will learn as well.

Thanks for reading 😊

$MATIC