If someone has missed off the 20’s mark by a few years, but still wants to catch up, you can use the below calculator.
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40 Years ago, I guess 500 Rupees was a huge amount.
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Not at all, in my sister’s marriage(in 1978) my father gave dowry of around Rs.80k (not including wedding charges) and he was just a high school teacher.
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How to start imvesting in this ?
Currently there is no automated way to do an SIP in ETFs. However you can start a SIP in an index fund which the equivalent of an ETF. Index funds track the composition of an index and the best part is that since they are passive they have low expense ratios. For example, the SBI Nifty Index direct fund has an expense ratio of just 0.27%. So this fund essentally tracks the compostion of Nifty.
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As @Bhuvan already clarified, I would suggest you to begin your journey with balance funds and while your journey learn the market’s characteristics and gain some confidence then you can jump to multicap funds and gradually to mid and small cap funds.
Till the time you turn 60, value of 5 crores will be very low.