How can I create a retirement corpus of Rs 1 crore?

I am 32 years old. I have been investing in mutual funds since Nov 2017. I am investing in below mentioned funds:

SBI Blue Chip Rs 2,000 p.m. for 10 years

Kotak Select Focus Fund Rs 1,000 p.m. for 5 years

Motilal Oswal Focused 25 Fund Rs 2,000 p.m. for 10 years

Mirae Asset Emerging Bluechip Fund Rs 1,000 p.m. for 5 years

SBI Pharma Rs 1,000 p.m. for 5 years

All my investments are in direct plan and growth option.

Is my portfolio fine? My goal is to make Rs 50 lakh in 18 years. I want Rs 1 crore at time of my retirement.

-- Suman Chandra Paul

Shweta Jain, Founder & CEO, Investography, responds:

The schemes look good. I would avoid SBI Pharma and only do three schemes, increase investment in Mirae Emerging Bluechip Fund. Continue investing even when markets are seeing a downturn. 10 years is a good time horizon, stay longer and see how money compounds as well- 20 years for example. If you would like to get to Rs 50 lakh in 18 years, you need to invest Rs 6,600 on a monthly basis. You've started with Rs 5,000, which is good, increase this if you can now, else next year for sure and you will get to your destination. At 60, if you need a crore, you can invest Rs 4,000 towards this and get there.