Best mutual funds to build a retirement corpus of Rs 5 crore

I am 27 years old. I am currently working in the US. I want to invest in mutual funds. I want to retire at 45.

My goals are:
Retirement corpus: Rs 5 crore
For my child: Rs 5 crore

Which are the best mutual fund schemes? And how much should I invest every month?
--Shankar RameshBabu

Vishal Dhawan, Founder, Plan Ahead Wealth Advisors, responds:


You have an investment horizon of 18 years to accumulate the target corpus for your retirement. Since you have not mentioned the age of your child, I am assuming that both your goals (retirement and corpus for the child) need to be met in 18 years.
You need to to invest Rs 95,000 to Rs 1.05 lakh per month to achieve your goals, assuming an annual return of 9.5% to 10.5%. You need to invest in a mix of both equity and debt assets, with equities being a larger component in the beginning. As you get closer to your goals, you should shift a portion of your assets to debt-oriented assets.

I would ask you to consult with your tax consultant in the US to understand the tax implications while investing in mutual funds in India.