Mutual funds, Oct. 22 -- Consistency is key to long-term investment success. If you want to accumulate a substantial amount, it is imperative to set aside a small sum every month (in the form of systematic investment plans or SIPs) and allow it to grow over a period of time.

Suppose you have a financial goal of accumulating Rs.50 lakh in the next 10 years for something very specific, say buying a car or sending your child for higher studies. You are recommended to invest in mutual funds, preferably via SIPs.

We have done a few calculations to help you find out how much consistent investment is required to create the desired corpus of Rs.50 lakh in a span of 10 years.

We have also considered multiple scenarios in which you could save th...