How to plan your financial goals using mutual funds?

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The primary focus of investments, including mutual funds, is the profitability and growth of the investment. Many may not correlate their mutual funds online investments with their financial goals. But once you do so, you not only have a better chance to achieve your long-time financial targets but also streamline your investments.

Decide on your goals

Rather than investing aimlessly, it is always better to identify a few clear financial goals and work towards achieving them. If you are investing in mutual funds, you can open separate SIP accounts for future goals like retirement savings and regular pay-outs. You may also have a SIP to save taxes, while another set of schemes to save for your child’s education and future. Immediate goals like planning for an overseas vacation can also be a part of your mutual funds’ investment strategy.

Identify the fund schemes and tenure

Depending on the financial goals you have set, you will have to identify the schemes to help you achieve your financial goals. 

For instance, if you are planning for retirement, you will go for a long-term investment in mutual funds. Equity diversified mutual funds can be expected to provide good growth in the long-term horizon. Investments in mutual fund types like sectoral and thematic are also preferred by long-term investors. If you want a regular pay-out from your investment, investing in a mutual fund with a systematic withdrawal plan can be tailormade to meet your needs. Such an investment can be short to medium term.A medium-term investment in equity-linked savings schemes (ELSS) is eligible for tax deductions. You can start an ELSS SIP investment as per your tax liability.If you are saving for your child’s future financial needs, another long-term investment in mutual funds would require. If you already have long-term exposure to diversified equities, you can invest in gold funds and index funds. Both these mutual funds are known to give good value over the years.If you are looking to embark on a foreign trip or renovate your home in the next couple of years, you can invest in short-term mutual funds. This will also diversify your mutual funds across different maturity periods. With less time for recovery, short-term investments should ideally be made in debt funds of short and medium-term. Short-term gilt funds are also profitable in the short-run scenario.


You may invest in mutual funds on the advice of your mentors and friends, along with basing that on your research. Aligning your investments with your financial goals ensures that you invest in mutual funds with a clear plan and road map. This will need a knowledge of all the different types of mutual funds. With the Tata Capital Moneyfy App, you can find out the performance and information of mutual funds online across different categories. Plan with the Moneyfy App to invest in mutual funds and achieve the financial goals in your life.

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