Will these mutual fund schemes take care of my retirement?

I have seven mutual fund schemes in my portfolio. My goal is to create wealth for retirement. I am 30 years old. My mutual funds are listed below.

1. ICICI Pru Bluechip Fund
2. Parag Parekh Long Term Equity Fund
3. L&T Midcap Fund
4. HDFC Small Cap Fund
5. Axis Long Term Equity Fund
6. ABSL Tax Relief 96 Fund
7. DSP Tax Saver Fund

I invest Rs 1,000 in each fund every month. My investment horizon is 30 years. Kindly review my portfolio.
-- Arindam Singha

Veena Malgonkar, certified financial planner, KM Wealth Solutions, responds:

Congratulation on starting your investment programme early. Meeting your retirement goal is going to be easy. Assuming 15% returns over 30 years you will have a corpus of Rs 4.9 crore.

The choice of your funds too are balanced and includes largecap, multicap, mid and smallcap funds.


Only warning is that as your portfolio grows, there are times when the valuations become expensive, and it would be prudent to book out some profits and invest in debt funds. Then when the inevitable correction happens you will have funds to switch back to equity and buy at lower levels.