Are you working towards your future goals? Investment is the only way to make your future better. Investing in the right place is equally important, and if you prefer putting only some of your assets in one basket, mutual funds are the answer to all your queries. You can also benefit in terms of tax as these are tax saver mutual funds.
Investing regularly forces you to set aside a definite sum and helps instill a sense of financial discipline in the long run. An individual’s investment goals depend on income, age, and risk tolerance. It is an effective way of having your money work for you.
What are Mutual funds?
It is a type of an investment instrument which consists of portfolios of bonds, stocks and other securities. It gives small or individual investors the opportunity to invest in diversified and professionally managed portfolios.
What is a Mutual fund calculator?
A mutual fund pools investment from various individuals and investors who have a similar interest objective. They are flexible investment vehicles where you can plan your investment according to your needs. A mutual fund calculator helps you calculate and assess your investment amount.
It considers various factors while assessing your investment, like risk tolerance, financial goal and financial bandwidth; this helps you get a detailed plan analysis and enables you to make an informed decision.
What are the advantages of mutual fund calculators?
● Simplification
It simplifies your calculation process using automated softwares and helps estimate your expected returns, tenure and preferable EMI options.
● Goal planning
Since you get accurate and reliable results, you can plan your goals accordingly, ranging from retirement plans to buying a house or moving abroad for higher services, helping you determine which mutual fund to invest in to reach those goals.
● Selection of the most appropriate mutual fund
With the help of the calculator, you can find out which are the best mutual funds for SIP and which are the best ones; otherwise, you can do targeted research by comparing and contrasting different options.
● Confidence building
Since the research is data-driven and accurate, it gives you confidence in making decisions and coming to a conclusion, leading to increased efficiency and quick decision-making. It helps because mutual funds are subject to market risk, which helps predict and capture the risk to an extent, giving confidence to invest.
● Tax implication
The calculator can also help you assess your tax implication and, in the process, help you findtax saver mutual funds and save your funds from tax.
Which is the best mutual fund calculator?
I recently invested in a mutual fund through Bajaj Finserv and used its calculator, which is free of cost. You can choose the type of investment you want: Systematic Investment Plan(SIP) or lump sum payment, and accordingly use their calculator to assess your financial positioning. Check HOW2INVEST.
Their calculator is very easy and straightforward to use, as you only need to enter a few details to estimate your returns. The calculator uses a sophisticated algorithm to generate accurate results.
Conclusion
If you are thinking of investing, take the next step and invest right away. Mutual funds are the right choice as they diversify your investment portfolio. With the help of a mutual fund calculator, you get a clear picture of your investment plan according to your risk appetite. Bajaj Finserv will help you find your appropriate plan and give you a detailed reasoning for the same.
