Stock Analysis, IPO, Mutual Funds, Bonds & More

Will these mutual funds help me to create Rs 3 crore for my retirement?

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

ET Online|
Last Updated: Nov 01, 2019, 03.59 PM IST
Getty Images
time investment
I am 37 years old. I have an eight-year-old child. I have been investing in mutual funds since 2014. I am investing Rs 30,000 per month via SIP in the following mutual funds:
Aditya Birla Sun Life Frontline Equity Fund: Rs 3,000
Motilal Oswal Multicap 35 Fund: Rs 6,000
ICICI Prudential Value Discovery Fund: Rs 6,500
Axis Long Term Equity Fund: Rs 2,500
Nippon India Tax Saver (ELSS) Fund: Rs 2,500
HDFC Mid-Cap Opportunities Fund: Rs 3,500
DSP Midcap Fund: Rs 1,000
HDFC Hybrid Equity Fund: Rs 2,000
SBI Bluechip Fund: Rs 2,000
Kotak Standard Multicap Fund: Rs 1,000

Is my fund selection right? Should I change any scheme? My goals are: to retire at 60 with a corpus of Rs 3 crore. Rs 1 crore for my child’s education. And Rs 25 lakh for my child’s marriage. My risk profile is aggressive.
--Abhishek Ghodke

Tarun Birani, Founder and CEO, TBNG Capital Advisors, responds:

Your mutual fund portfolio looks well diversified. The highest allocation is in multi cap category. It will benefit you as the mid-and small-caps are expected to pick up in the coming years. You should continue with your SIPs.

Below is your current investment in different mutual fund categories:
Equity - Large cap
Equity - Multi cap
Equity - Value
Equity - ELSS
Hybrid - Aggressive
Equity - Mid Cap

Your investment of Rs 30,000 per month is sufficient to take care of your retirement goal of Rs 3 crore. For your other two goals, child’s education and his marriage, you will have to top up your SIPs.
(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.)

Also Read

What are overnight mutual funds?

SBI Mutual Fund tops HDFC Mutual Fund as No 1 asset manager

How to select a mutual fund?

What are quant mutual funds?

Mutual funds for a new investor

Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service