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    Have I chosen right mutual funds for my retirement?

    Synopsis

    If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

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    I am 50 years old and I am investing in a few funds for my retirement. My investments are as follows:
    Axis Bluechip Fund: Rs 2,000
    Axis Midcap-Fund: Rs 2,000
    Axis Small Cap Fund: Rs 2,000
    Parag Parikh Long Term Equity Fund: Rs 2,000
    Mirae Asset Emerging Bluechip Fund: Rs 2,000
    Canara Robeco Emerging Equities Fund: Rs 2,000
    Mirea Asset Tax Saver Fund: Rs 2,000
    Tata India Tax Savings FundL Rs 2,5000
    Please look at my portfolio and guide me.
    -Nitesh Thakkar

    Rishabh Parakh, Founder, Money Plant Consultancy, responds:

    Your current SIP of Rs 17,000 can generate a corpus of around Rs 40 lakh, assuming an annual return of 12% annually. Since we do not know about your other assets that may help you to fund your golden years, it would be difficult to advise the changes you need to make in your current portfolio mix. The current mix seems good, looking at the 10 years window.

    I would ask you revisit your financial plan, look at how much money you need to maintain your lifestyle post retirement and take care of any emergencies. And once you do that math, you can revisit the current monthly investments to modify and increase the same accordingly.

    Things You should consider
    • Annualized Return
      for 3 year: 0.98%
    • Suggested Investment
      Horizon: >3 years
    • Time taken to double
      money: N.A
    Things You should consider
    • Annualized Return
      for 3 year: 9.25%
    • Suggested Investment
      Horizon: >3 years
    • Time taken to double
      money: 4.10 Years
    (If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)

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    1 Comment on this Story

    Dsk Med13 days ago
    though all mutual funds are performing well it seems you have too many. 4 - 5 will be ideal
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