New Delhi, Sept. 30 -- When investing for long-term goals such as retirement or a child's future, you have two options: choose a life-cycle fund that automatically changes its asset allocation over time, or create your own do-it-yourself (DIY) portfolio of equity or debt funds and gold or silver ETFs.

Life-cycle funds follow a predetermined glide path, gradually changing the asset mix as the goal approaches. However, a self-built portfolio gives investors greater control over their asset allocation. Here's what experts have to say.

SEBI permits life-cycle funds with 5-, 10-, 15-, 20-, 25-, and 30-year maturities. For a 30-year fund, equity can range from 65% to 95% when 15 to 30 years remain, gradually falling to 5% to 20% in the final ...