How much should I invest for next 25 years to create a retirement corpus of Rs 2 crore?

I am 30. I want to retire by 55 and for that I need at least Rs 2 crore. My salary is Rs 56,000. I have been investing Rs 1.5 lakh in Public Provident Fund (PPF) and Rs 95,000 a year in NPS since 2015. I have two LIC policies for which I pay a premium of Rs 1 lakh. Now I want to invest in mutual funds for the next 20-25 years. I intend hiking my investment by 10% a year. I have SIPs of Rs 3,000 each in Mirae Asset Emerging Bluechip, Axis Focused 25, Parag Parikh Long Term Equity and SBI Focused Equity. Am I on the right track?

Vidya Bala, Co-Founder, Redwood Research replies, "You will comfortably reach your target if you continue your current investments till the age of 55 and they together deliver at least 6% annually, post tax. However, do not set a target without assessing what your cost of living will be. You may need a higher corpus based on your living expenses later. Invest in EPF/PPF/NPS to the extent allowed for tax deduction. Invest the remaining in consistent equity funds and low-risk debt funds such as Aditya Birla Sun Life Floating Rate and Axis Banking and PSU Debt. Your equity funds look fine but you can consider a multicap fund instead of two focused funds."

I am a 24-year-old Army officer. I contribute Rs 40,000 a month towards the Provident Fund (PF). Where can I invest my money to get better returns than PF, which is fetching me around 9% at present?

Jayant R. Pai, CFP and Head - Products, PPFAS Mutual Fund replies, "Earning 9 percent tax-free interest from a safe investment is not a bad proposition. However, if Rs 40,000 per month is beyond the mandated minimum amount, then you could consider shifting the excess to equity mutual funds through the SIP route. While there is no assurance of capital protection or returns, the probability of loss reduces with time (five years or more). Given your age, you are in a better position to recover from any short-term losses, owing to a long career ahead, both within the armed forces and beyond, in case you retire early. However, it is advisable to consult a financial adviser before proceeding, in order to better gauge your ability and willingness to invest in equities."