However, you know there are many categories of equity mutual funds, but selection depends on your risk profile. There are three categories in mutual funds in which you can invest, large cap, Diversified and equity funds. If you have regular income means you are job holder think about equity mutual funds. This fund is risky and volatiles, but gives higher returns as compared to other schemes. If you have the capability to tolerate the risk than diversified equity funds will be best for you. The recommended schemes for you is , Birla Sun Life Advantage Fund, SBI Magnum Multi-Cap Fund, Mirae Asset India Opportunities Fund and DSP BlackRock. Start investing in theses schemes through best SIP plan for 5 years of small amount on the monthly or quarterly basis. When your investment will be complete that time you will get returns more than from your expectation. Plan and Invest now! With ease.