You want to save tax and for your child’s education. You also need to save for retirement then there is this long-cherished dream of owning a house. And your plan to upgrade to a bigger car. That’s quite a mix of long-term, medium-term and short-term financial goals. Just as individuals have different goals, there are mutual funds to help achieve these objectives. You could be looking at long-term wealth creation, or a place to park funds in the short term.
Choosing the right type of mutual fund is therefore the first step in achieving your financial goals. The choice should be defined by the tenure of the investment, your willingness to take risks, and the liquidity offered by the option. A debt fund, for instance, won’t be a good way to save for retirement when you are in your 30s. An equity fund, on the other hand, won’t help if you want to save to buy a car next year. if you can stomach risks, an equity fund can help you reach your financial goal faster. It all depends on how comfortable you are with the risk.
Once you have chosen the category, you can then compare the performance record of the funds within that category to pick out potential winners that can help you achieve your financial goals. Here’s how you can use different kinds of mutual funds to reach those goals.
We, at Mutual Fund Zaroori Hai are indulged in providing such mutual fund investment platform with convenience.