Invest for your retirement logically by factoring in the rise in your income. It’s best to begin with balanced funds…
25-जून-2012 •Research Desk
I’m 31 years old and I will retire at the age of 60. I can invest about Rs 8,000 a month with a 10 per cent increase every year. I would like to have around Rs 2.5 crore by the time I retire. Please suggest funds for me.
Given your timeframe and the way you’ve logically put it that your income will rise and you will be able to enhance your savings, you don’t have much to worry about. Even a bank recurring deposit will help you achieve your goal. However, you should begin with a balanced fund. Invest in 1 or 2 balanced funds for the 1st 2-3 years and then you can take a little more aggressive position with larger allocation to equity.