My Agent has suggested new fund offer from HDFC MF-Retirement Savings Fund for generating corpus at my retirement …
I’m currently planning 3000 per months as SIP in above fund.
Wanted to know your views on the same..also suggest any good funds for retirement savings
Also please suggest if starting SIP in new fund is better or matured (3-5 years old) is good one?
AJ-I suggest you to stay away. Reasons are as below.
- It is NFO. So don’t know the historical performance of fund. Hence, why to risk money?
- Tax Saving-I think there many old ELSS funds, which I believe more than this new fund.
- Exit load of 1% if you withdraw before 60 years of age.
- Lock period of 5 years.
- Debit option not at all required for long-term goals like retirement.
If your goal is retirement and it is more than 10 years or so, then simply use 70% into equity mutual funds and rest 30% into PPF. The control will be in your hand.