Holiday Portfolio: Monthly SIP of Rs 15000, after 5 years the dream of Europe trip with family will be fulfilled

SIP for Holiday Trip : Systematic Investment Plan (SIP) in Mutual Fund is a long term investment system, which is helpful in fulfilling many of your financial goals. When it comes to financial goals, it usually includes children’s higher education, marriage or buying a house or flat. But very few people pay attention that financial goals can also include planning to travel with family or go on a foreign trip in the coming days, on which a good amount of money is spent. SIP can also fulfill this financial goal of yours, if you plan it properly. It can be said that SIP will prove to be helpful in fulfilling your dream of a holiday trip.

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Holiday Portfolio First, decide the location

If you are also planning your foreign trip, then it is important to set a specific goal to achieve it. For this, you will have to focus on creating a holiday portfolio. First of all, decide what is your plan for the trip. Are you planning a trip to Europe once in your life (Europe Trip in Holiday)? Or do you want to do some travel within India every year? If you set a goal of Europe trip, then you will have to calculate the expenses accordingly, take advice from a financial advisor and start investing (SIP for Europe Trip).

Holiday Portfolio: Keep the future cost in mind

After that you will have to decide after how many years you plan to travel to Europe. Suppose you have planned a trip to Europe after 5 years, then first of all you will have to keep in mind that the cost of touring Europe today, how much will it be after 5 years. That is, you will have to take care of the future cost.

While doing financial planning, also keep in mind the plan for how many days. The correct expenditure will be estimated accordingly.

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How much will it cost after 5 years?

Let’s assume that there are 4 people in your family including 2 children. If you go on a Europe trip for 10 days today, then the expenses for an adult can be Rs 2.5 lakh and for a child (5-15 years) it can be Rs 1.5 lakh. In this sense, the expenses for 4 people are Rs 8 lakh.

Now if we talk about 5 years later, then we have to calculate the expenses using the future cost calculator. It can give you the correct information about the expenses by adjusting the inflation that will increase in 5 years.

If we assume the current inflation rate to be 5.1%, then after 5 years, instead of Rs 2.5 lakh, we will have to spend Rs 3.20 lakh. And instead of Rs 1.50 lakh, we will have to spend around Rs 1.95 lakh. That means, then we will have to spend Rs 3.20 lakh on an adult and Rs 1.95 lakh on a child.

According to this, after 5 years, a family of 4 people will have to spend Rs 10.3 lakh. At the same time, you will have to keep some extra money in your pocket. Overall, you may need Rs 12 lakh for this trip after 5 years.

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An investment of Rs 15000 will make a difference

SIP per month : Rs 15000
Tenure: 5 years or 60 months
Estimated return: 12% p.a.
Funds generated after 5 years: Rs 12.4 lakh