Equity: Growth stocks –50, Value stocks –35, Defensive stocks – 15
Mutual Funds: Growth Fund - 70 Income Fund - 30

You need to strike a balance between high return, high risk investments and low risk investments. A 38% investment in equity, which is further divide among the following stocks is suggested:Growth stocks: 50% Value stocks: 35% Defensive stocks: 15%
Mutual funds provide good returns at a moderate risk. 15% of your savings may be invested in these funds (70% in growth funds and 30% in income funds). You should also consider the security of a portion of the savings by investing in bonds and debentures (15%). Any unplanned expenses can be met by holding 10% of your portfolio in a savings account. Insurance (5%) and tax saving instruments (7%) will maximize post-tax returns. You may plan for a house by keeping aside 5% of your savings in real estate. A 5% investment in gold is suggested.

The starting point for Portfolio Planning is here.