Where should I invest for my retirement?

I am 23 years old. I have been working since the last one year. I would like to invest Rs 1 lakh as a lump sump in mutual funds for my retirement fund, along with my EPF. I can take high risk. I want to retire at 50-55 years. Please suggest three to five funds for long term?
--Roopesh Kesavaraju

Gaurav Monga, a certified financial planner, responds:


Since you have allocated the current surplus towards your retirement goal which is 25-30 years away, the money can be invested in equity funds. The investment can be done in the following two schemes: 1. Kotak Opportunities Fund (Equity- Multi cap) and 2 Mirae Asset Emerging Bluechip Fund (Equity- Mid cap). Further, do not add too many scheme to your portfolio. Too many schemes leads to over-diversification and it should be avoided.