If you have a moderate risk appetite, you may invest in one or two flexi cap mutual funds. Flexi cap funds can invest across market capitalisations, sectors and themes. These schemes are considered ideal for moderate investors to build wealth over a long of time. Here are our recommendations: Best flexi cap funds to invest in 2023
You may start with your investments. However, have a target corpus. This will help you to achieve your retirement corpus without fail. For example, if you need Rs 6 lakh per year (Rs 50,000 per month) to meet your living expenses. Assuming an annual inflation rate of 6%, you need Rs 1.60 lakh per month / Rs 1.92 crore per year to maintain the same lifestyle after 20 years. Assuming you have to live another 20 years after retirement, you need a corpus of Rs 38.49 crore (Rs 1.92 crore x 20 years).
Start with whatever you can invest right way and increase your investments every year at least in line with your salary hike. This will help you to achieve your long-term goals.