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

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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.

  • 10.73%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 2.10 YearsTime taken to double money
  • 5.14%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 3.0 YearsTime taken to double money
Below is your current investment in different mutual fund categories:

Category
Amount
%
Equity - Large cap
5,000
17%
Equity - Multi cap
7,000
23%
Equity - Value
6,500
22%
Equity - ELSS
5,000
17%
Hybrid - Aggressive
2,000
7%
Equity - Mid Cap
4,500
15%
Total
30,000
100%

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.
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