I saving is Rs.5,000 per month. Please say good retirement Plan?

Assuming your expenses now is Rs. 30,000 per month. At 6 % inflation, 24 years from now (2039), you need about Rs.1.25 lacs per month. This works out to Rs.15 lacs per month.

Assuming you would earn 8% return on investment then, you need a corpus of Rs.1.90 crores in 2039. To have Rs.1.90 crores in 2039, you need to save about Rs.5,000 per month in equity funds. I have assumed an annualised return of 18% and advice you to use the five equity mutual funds for this purpose as well.

The Five schemes are

1. Birla Sunlife Frontline Equity Fund.

2. Franklin India Prima Plus

3. L & T Equity fund

4. HDFC Mid cap Opportunities and

5. ICICI Pru Value Discovery Fund / IDBI Diversified Equity Fund - Regular Plan

You may need income tax savings to go ELSS Funds

Fund	Rating	Category	Launch	Expense Ratio (%)	SinceLaunch Return (%)	Net Assets (Cr)
IDBI Equity Advantage Fund - Regular Plan	Unrated	EQ-TP	Sep-2013	2.80	57.53	312
HDFC Taxsaver Fund		EQ-TP	Mar-1996	2.26	29.30	5,032
Birla Sun Life Tax Relief 96		EQ-TP	Mar-1996	2.32	27.72	2,013
Franklin India Taxshield Fund		EQ-TP	Apr-1999	2.42	26.42	1,722
Union KBC Tax Saver Fund		EQ-TP	Dec-2011	2.97	25.60	82
IDFC Tax Advantage (ELSS) Fund - Regular Plan		EQ-TP	Dec-2008	2.85	25.03	340
HDFC Long Term Advantage Fund		EQ-TP	Jan-2001	2.51	25.02	1,187
BOI AXA Tax Advantage Fund - Regular Plan		EQ-TP	Feb-2009	2.86	24.68	50
Sahara Tax Gain Fund		EQ-TP	Apr-1997	2.85	24.37	11

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