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Planning your life goals with Mutual Funds

Jul 8, 2015 | 82 Downloaded

If you decide to take a train to go to a specific place, don't you study the route and the stops along the way, and finally alight at your destination? Similarly, investing for your future also requires such clarity.

'Know your Destination' in order to define what you need to get there. This first step, allows you to identify your financial needs and the amount you need to save and invest.

'Plan your Journey', as your goals may need a large investment. The second step is to discipline yourself to invest regularly, to work towards making your dreams a reality.

'Be aware' of your financial position; your ability to bear risks and by when you would like to reach your goal before making any commitments.

'Choose the Right Path' that helps meet your requirements. The investment vehicle is the difference between achieving and almost reaching your goals.

Every investment needs a purpose and a plan. A financial goal provides this purpose, based on which, you can plan and choose from a range of investment options according to your needs, ability to save and to take risks over a defined time horizon. You must make a decision only after knowing what you want and what you can afford to invest.

Checklist:

Purpose

Every investment must be made keeping your goals in mind

Planning

Your goals may need serious money for which you must save regularly

Time and Risk

Always consider your investment horizon and ability to bear risks

Investing

You must choose a product that suits your needs

From amongst the myriad investment options available to investors today, Mutual Funds offer investors a simple and convenient avenue to create wealth, by combining the investments of many investors and managing it as a single pool of money. The various benefits include:

  • Professional fund managers supported by experienced research teams, with access to real-time market updates and ability to execute effective trades.

  • Easy diversification as Mutual Funds manage large pools of money and can invest in a wide range of securities.

  • Wide range of investment solutions to you plan for your short-term and long-term goals, depending on your risk appetite.

  • Convenience and flexibility as they allow you to invest systematically, bringing in the required discipline.

  • Access to the inaccessible as some schemes invests in Government Bonds and International stocks, which may otherwise be unavailable to individual investors.

All in all, Mutual Funds are an investment solution that allows investors to reap the benefits of investing without having to worry about carrying out intensive research and analysis on their investments. They are also tax efficient and have a wide range of solutions to match the diverse needs of various investors.

Always remember that it is important to select an appropriate Mutual Fund product based on your risk taking capacity and your financial goals. Make Informed Investment Decisions and Invest Correctly.

ICICI Prudential Mutual Fund
Tarakki Karein!

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

This article should not be considered as 'investment advice'. We request the Reader to make informed investment decisions and consult their financial advisors to determine the financial implications with respect to investing in Mutual Funds.

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