Link Mutual Fund SIPs Investment to Financial Goals

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Any investment must have a purpose. It could be saving for your retirement, your child's marriage or even a foreign holiday.

Financial planners say it is important to link SIPs to particular goals. This will not only let you monitor the progress of the investment for that goal, but also tell you how much you need to save every month. For instance, if you have to save `10 lakh for the down payment of your house in two years, even an SIP of `15,000-20,000 a month won't serve the purpose. If the objective has not been clearly articulated, you may miss the target. Spelling out the goal also lets you choose the most appropriate asset mix for achieving it. This depends on the time frame available for the goal. If you have more than 10 years, the asset mix should be heavily tilted towards equities (70:30), as the time frame allows you to take on a higher degree of risk.

For short-term goals within the next five years, debt investments should form the major chunk of the portfolio.

This approach requires that you first identify your goals, the time horizon and the cost of the goal at the future date. If the cost of a goal is `10 lakh right now, an 8% inflation for the next 15 years will push it up to `31 lakh.

So you will have to use an equity fund to build the corpus for her education because it is the only asset class that can beat inflation.

 

On the other hand, if the goal is short term, a debt fund will be more appropriate.

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