Have I chosen right mutual funds for my retirement?

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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.

  • 4.81%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • N.ATime taken to double money
  • 13.67%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 4.11 YearsTime taken to double money
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.


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