My age is 47years, and can invest around 20K per month, looking to have around 70Lakhs-1Cr for retirement, please suggest MF to be invested
Ans: Hello Raghu and thanks for writing to me. Assuming you retire at 65 and your portfolio compounds at around 13%, you will be able to create a corpus of around Rs.1.5 Crore after investing Rs.20,000 every month.
You can consider starting monthly SIP's in:
1-Edelweiss Nifty 100 Quality 30 Index Fund-Rs.5,000
2-UTI MNC Fund-Rs.5,000
3-SBI Focused Equity Fund-Rs.5,000
4-Kotak Equity Fund-Rs.5,000
If you can step-up your SIP's by 10% or more every year, you will be able to create a larger corpus for retirement.
You should also rebalance your portfolio periodically to ensure that your investments suit your risk preferences. I recommend you seek help from a professional financial planner.