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The monthly saving required is the future-value annuity that closes the gap between the target corpus and what existing savings will grow into. Because compounding does the heavy lifting, the required monthly amount falls steeply the earlier you start.
Future value of existing savings
FV = Existing savings x (1 + Return)^Years
Monthly investment
SIP = Gap x Monthly rate / [(1 + Monthly rate)^Months - 1]
Be conservative — a diversified equity-heavy portfolio has historically returned 10-12% nominal over long periods, but sequence risk matters as the goal approaches.
Yes. Shift progressively to debt in the final three to four years so a market fall does not arrive in the year the fees are due.