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I am 22 years old and have recently started working in a software company.

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Subhankar Roy, email

I want to set up my own consultancy firm by the age of 30. How should I go about investments so that I have a lump sum of around ₹15 lakh to bootstrap my venture?

Going purely by calculations and assuming that you have the understanding and risk appetite for equity investments, I would recommend that you start systematic investment plans (SIPs) in an equity or equity-oriented mutual fund. Since your goal is a comfortable eight years away, an SIP of ₹10,000 per month should do the job for you.

In fact, if you can increase your SIP annually in tandem with your salary increments, you would require lesser monthly SIP contributions, or if you intend to keep this amount constant, you would be able to accumulate more than your target. Be regular, diversify, and review your investments regularly, typically every six-month.

COL. SANJEEV GOVILA (retd), CFP, Sebi-RIA, CEO, Hum Fauji Initiatives

Ankit Sethi, email