Expert Zone

Straight from the Specialists

Five steps to a goal-based investment plan


(The views expressed in this column are the author’s own and do not represent those of Reuters)

Life is filled with desires and ambitions. A holiday abroad, a swanky new car or a plush home, whatever it may be, we earn money to fulfil such goals. However, very often, when it comes to saving for our goals, most of us randomly make investments without a proper plan. We buy financial products, without giving much thought if it is actually going to help us at the time when goals are to be met.

This is where a goal-based investment plan comes into play.

The concept of goal-based investment stresses on having a planned and disciplined approach to saving money for the important goals of life. By having an investment plan defined around your goals, you could allocate your finances to the right asset class, so that they are readily available to meet the big expenses of life. Sounds complicated? Not in reality though.

From identifying your needs to choosing the right asset class, here are 5 simple steps to help you.

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