(Source: BloombergQuint)

BQPortfolio: Can A Rs 10,000 SIP Help 22-Year-Old Kamesh Sozhia Fund His Studies Abroad?

BQPortfolio speaks to citizens from across India about their financial goals and helps them access expert advice on how to achieve them.

Kamesh Sozhia wants to pursue higher studies, preferably abroad, in 2022. The 22-year-old anticipates that he will need Rs 15 lakh in four years. Sozhia wishes to self-fund his education by working till then.

The Chandigarh resident started working a year ago and has a take-home salary of Rs 5 lakh per annum. Sozhia saves Rs 3.2 lakh annually and has Rs 1.5 lakh in a bank account, which he wishes to keep aside for contingency.

He recently started a monthly systematic investment plan of Rs 10,000 and has accumulated Rs 30,000 in investments so far.

On BloombergQuint’s special show, Amit Trivedi, author and mutual fund expert, helps Sozhia plan for his higher education.