What’s on your mind? Retirement or the latest sedan? Retirement, really?
Not that there’s anything wrong with thinking of retirement. But let’s face it, it’s depressing. And when it comes to investments, everyone only seems to talk about retirement. While it’s important to save and invest for old age, you should also want to achieve things that make your life better.
Hello, YOLO! Buy your dream car, have a beautiful wedding ceremony, plan your honeymoon in Europe, go on a world tour, build a house on the seaside, renovate your house, there so many short-term goals you can have in life. And what better way to achieve them than investing in Mutual Funds. We agree that Mutual Funds give great returns when you invest for a long time. But there is a way to get good returns even in a short period of time. Let’s see how.
Set a timer
For a 10-15 year goal, you will find many equity-based schemes that can help you build wealth. But let’s be clear. With Mutual Fund schemes, risk and rewards change as you change your time frame. Liquid or Smart Saver funds are good for goals with a time frame of 6 months to a year. Similarly, there are some amazing schemes for 5-year goals. So, it will help to spend some time on defining the timeline for your goals.
How to choose?
· For very short-term goals or emergency funds, liquid funds are great.
· But if your goal is a couple of years away, you can check out Equity Funds – large cap, mid cap, small cap, balanced
· Choose schemes that have performed well over a period of time.
· If market volatility makes you uncomfortable, invest small amounts every month in any fund of your preference
Well, that’s the only way to go if you want to achieve all your goals before you retire. The more you save, the more you get to invest. And when you invest more, you get to reach your goals that much quicker. Invest a part of your income every month in mutual funds and accumulate wealth for yourself.
Retirement should motivate you to invest, but so should all the tiny goals that make up life on the way to it. Imagine achieving all your goals before you retire. Won’t retirement be even more amazing after you have gone for a world tour, have bought your dream car and made a lot of money?
Start investing for your next goal on Freecharge today! Click here to begin!
*Mutual fund investments are subject to market risks, read all scheme related documents carefully.