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Planning Your Life Goals With Mutual Funds

By Expert Author: icici prumf

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

To understand the benefits of Mutual Funds and how investing may help you achieve your goals, visit www.icicipruamc.com/investcorrectly


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

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