Best mutual funds for a new investor

I am a new investor looking to create wealth for my future goals. I am 28 years; my current salary is Rs 1.5 lakh per month. My goals are:

1. Retirement (32 years): Rs 3-4 crore
2. Child’s education (20 years ): Rs 1 crore
3. Child’s marriage (27 years): Rs 1 crore

Please suggest me some good funds for SIP investment to achieve my goals.
--Mansi Jain

First, if you are a new investor with not much idea about investing in mutual funds, you should seek the help of a seasoned mutual fund advisor in your locality. A new investor needs a bit handholding in the initial years. Without timely advice, new investors tend to panic and take inappropriate decisions.

You have not shared your risk profile. So, it is not possible to suggest mutual fund schemes to you. Here are our recommended equity mutual fund SIP portfolios. See: Best mutual funds to invest in 2018. You may choose a portfolio based on your risk profile and the SIP amount.


Before proceeding do a little bit of maths and find out your investible surplus and divide it among your goals. You may not have the necessary amount to invest at the moment. If you increase your investments in line with your salary hike every year, you may be able to achieve your goals.

Do not pick round figures like a Rs 1 crore as your target corpus. Work with real numbers to arrive at realistic figure. For example, finding out the current cost of the goal and inflating it by a decent number is the best way to reach your target corpus. Once you have the target corpus, it is easy to find out how much you need to invest to achieve them.