Investing Rs 1 lakh monthly through SIP can result in Rs 10 crore. Here's the timeline you should adhere to.

Avoid haphazard investing as it lacks customization and may hinder reaching financial goals. Ensure your investment strategy aligns with your financial objectives consistently. Shivansh Dandona, Head of Investment Management at FinEdge, emphasized the importance of informed risk decisions for long-term wealth creation. While a Rs 10 crore goal is achievable, it requires understanding risk-adjusted returns. Depending on the annual return rate, the time needed to reach this goal varies, ranging from approximately 27 years at 7 percent to around 19 years at 13 percent. Dandona advised against sacrificing long-term objectives for short-term gains, urging disciplined focus on financial goals to avoid wealth erosion. Common pitfalls include random investments, chasing returns, speculative trading, sacrificing long-term goals for short-term gains, and not seeking expert guidance.