Are these mutual funds enough to take care of my retirement, car, house, etc?

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I am 27 years old. I started my job (and SIP) when I was around 25 years old. Initially, my SIP was of Rs 5,000, later I increased it to Rs 10,000, and finally to Rs 15,000. Right now my total investment is around Rs 3 lakh. My SIPs are in these funds:
HDFC Mid-Cap Opportunities Fund: Rs 3,000
ICICI Prudential Bluechip Fund: Rs 3,000
ICICI Prudential Sensex Index Fund: Rs 3,000
Kotak Standard Multicap Fund: Rs 4,000

I have a high risk tolerance as I won’t need large cash for at least next two to three years. I want to create a good retirement corpus and some intermediate cash for other life goals like house/car/holidays/kid's education etc. Kindly suggest
--Bishvdeep

First, you should invest in equity mutual funds only if you have an investment horizon of five to seven years. Two, your risk profile is different from your investment horizon. You don’t have a high risk appetite just because you don’t need the money for two or three years. Your risk profile is about your ability to take the risk, your comfortability with risk, your ability to withstand volatility, etc. Take an online quiz to assess you risk.

You should adopt a goal-based investing strategy. Investing Rs 15,000 will not help you to achieve your every goal. You should identify every financial goal, both short-term and long-term ones, in your life. Quantify each goal, provide for inflation and taxes to arrive at a realistic target. For example, if you need Rs 1 lakh for a goal today, it will cost you around Rs 3.20 lakh after 20 years, after providing for an annual inflation of 6%. To create Rs 3.20 lakh after 20 years, assuming an annual return of 12%, you need to invest around Rs 3,200 every month.
  • 6.87%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 3.2 YearsTime taken to double money
  • 14.03%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 3.8 YearsTime taken to double money
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