Rs 1-Crore Dream Wedding: Here's How Much You Need To Invest Monthly

Weddings in India are increasingly becoming larger-than-life events as people look for lavish venues, designer outfits and personalised decor. But these extravagant celebrations come with a hefty price tag. Spending Rs 1 crore on a wedding is not unusual today and that's exactly why solid financial planning has become more important than ever.

People book heritage venues and five-star banquet halls with theme-based decor, which can easily cost Rs 30-35 lakh. When it comes to catering, many opt for gourmet multi-cuisine menus and premium desserts that can cost up to Rs 15-20 lakh.

Recently, pre-wedding shoots, candid photography and cinematic films have also become a trend, which can easily increase your expenses by Rs 3-5 lakh. Other expenses, including live bands, outfits, jewellery, invitations, gift hampers and other miscellaneous costs, can lead to a hefty budget.

Financial advisors often recommend families start their investment journey early, ideally 8-10 years before the wedding, as it gives them ample time to grow their money. Choosing an SIP (Systematic Investment Plan) could be one of the most effective ways to achieve your goal of a Rs 1-crore corpus.

Let’s see how to build a corpus of Rs 1 crore through SIP investments over a 10-year horizon:

• Monthly Investment: Rs 43,500

• Tenure: 10 years

• Expected Return: 12% per annum

• Total Investment: Rs 52,20,000

• Estimated Returns: Rs 48,86,750

• Total Corpus: Rs 1,01,06,750

However, not everyone can afford to invest Rs 40,000-45,000 per month. If that's the case, you can extend your investment horizon. For example, to save Rs 1 crore over 15 years, you would need to invest only about Rs 16,000 per month at an assumed annual return of 12% per annum.

Mutual fund SIPs allow you to invest small amounts every month instead of investing a large sum at once. However, equity mutual funds come with high risk due to market volatility.

It's advisable to choose your investments carefully and diversify your portfolio with other assets like FDs and gold for steady returns. You can also seek the help of an expert to prepare an investment strategy as per your risk tolerance and financial conditions.