I am 46 Years old. I have not started investing in MFs so far. I want to start investing 6K - 8K for now & increase 10 per cent every year for 10 years. & withdraw the money after my retirement in 14 years. Which MF should I invest so that I can maximise my returns for my retirement funds? Kindly guide me so that I can start at least now.
Ans: Equity schemes are best suited for creation wealth in long run and the suitable schemes are as under (Can start SIP of Rs. 1500-Rs. 2000 in each of these 4 funds)
- UTI Equity Fund - Growth
- Axis Focused 25 Fund - Growth
- Motilal 30 mid cap fund – Growth
- LIC MF Large cap fund - Growth