Financial goals are an integral part of investing money into various schemes.
It’s the first Friday in the new year and as this first week comes to a close here’s a thing or two to ponder about investment decisions over the weekend. Once the basics of investing have been mapped out like planning financial goals and studying market trends, the ‘where’ and ‘how much to invest' can be addressed.
Financial goals are an integral part of investing money into various schemes. Setting aside a life or financial goal can often be motivational for higher investments.
Goals can be defined as anything from buying a house, to getting married or even planning for retirement.
Do keep in mind funds and the allocation of money to each is decided after careful consideration of individual investors. The individual should state his or her risk appetite and the time period for which the investments should be locked-in or if they would like a liquid investment.
“If you want to invest for short-term goals, you may stick to bank deposits and debt mutual funds. If you are investing for long-term, you can consider investing in equity mutual funds. Based on you risk profile, you can fine tune your options,” a report by ET Mutual Funds said.
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