To be able to generate a corpus of Rs 7 crore, a healthy mix of investment options, which are both growth-oriented and stable, is required.
1. Equity Mutual Funds: One of the most preferred investment instruments could be SIPs due to their potential to offer high returns.
2. Direct Stocks: Investing in stocks can generate higher rewards, but the risk is high here. It is advisable to do proper research before taking the plunge.
3. PPF, EPF, or NPS: These tax-efficient products enable you to earn extra money, besides your regular monthly income.
4. Gold and Bonds: Another suitable option could be to go for gold and government or corporate bonds for steady returns.
5. Real Estate: Although this requires a large investment, it is a great way to generate regular rental income.
In conclusion, reaching the Rs 7-crore goal might seem daunting initially, but it can be easily achieved through consistency and planning. However, it is advisable to evaluate your investment strategy basis your appetite for risk.
