Planning your 2019 dream Vacation? But how will you turn it into reality? |
Posted: January 17, 2019 |
Planning to see the windmills in Amsterdam this year as part of your dream Europe trip or maybe a cruise through the icy waters of the Caribbean? Or maybe you wish to absorb the breathtaking sight of the snow-capped Himalayas at Gibi. It's now time to turn your dream vacation to reality. It's natural for you to sigh at the cost involved for such a trip and postpone your plan for the umpteenth time. If so, think again. Let, 2019 be the year that your dream for your perfect vacation come true! All you require is proper goal-based financial planning to ensure that you board your flight to Hawaii. Mutual funds investments are one of the best ways for you to fund your travel plans. They are easy to invest in, there are many goal-based plans you can opt for and the returns are great. Following are the ways in which you should plan your investments and save up for your dream vacation:
The first step is you need to decide your dream destination, then formulate your itinerary to get a rough idea of the total costs that you will incur in this vacation. This will help you set up a proper investment plan! For instance, if your dream holiday destination is Europe in December 2019, you would approximately need to cough up 2.5 lakhs for the trip. Now that you have decided the time and the cost of the trip you can select an appropriate mutual fund portfolio which will help you achieve this goal. How can mutual funds help fund your vacation?
With a plethora of online investment apps that help you choose the right mutual fund for you, financial planning has never been this easy! All you need to do is log in, get KYC verified, verify your bank details and you are all set to begin investing. The entire process could take less than 10 mins.
Not well-versed with finance? No issues. Your mutual fund manager will take care of all your investments. The fund manager will ensure that you get the best possible returns by investing in a diversified portfolio of mutual funds. The portfolios will be decided based on your total returns target.
Systematic Investment Plan (SIP) is a popular tool of choice for investors in mutual funds. You set up automated fixed monthly payments to be deposited in the mutual funds of your choice. You get compounded returns linked to the market and your wealth increases in a relatively short period of time. You can start your SIP by investing as low as Rs 500 monthly.
Be smart with your investments to make the most out of them! There are various types of mutual funds - short-term funds, long-term funds, liquid funds, gold funds etc. for you to invest in depending on your goal amount and period. Liquid funds are great for short-term investment as they are subjected to minimal market volatility and give good returns in a short period of time, generally 3 months. You can invest for one year in a short-term debt fund as well, which will give you stable returns with modest risk. And if for some reason you decide to push your dream vacation a few years down the line, you can even invest in gold funds or invest lump sum into a mutual fund. Both kinds of funds tend to perform well over a period of time, giving you your desired financial returns to fund your dream vacation. Now it’s time for you to realize your daydreams and embark on your trip of a lifetime. Invest smartly to maximize your returns and pilot your vacation dreams. Invest today, vacation happily tomorrow!
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