Goal Planning Feature – Manual
May 20194 min read
Step-By-Step Manual for Investica’s New Goal Planning Feature
“A goal properly set is halfway reached” – Zig Ziglar
Legendary Salesman, Author and motivational speaker, American Zig Ziglar has precisely described the importance of goal planning. Financial Goal Planning isn’t very different either.
Our interaction with investors highlighted the need for having a goal planning tool to assist investing.
“The key reason for developing the goal planning feature is that investors find it difficult to hold on to an investment during volatile periods if they don’t know why they are investing.”
Importance of setting Financial Goals
If investments are mapped to some goal then wouldn’t it be easier to continue during difficult times? Because the belief is there right?
The time period is clearly defined and hence it acts as a motivation to hold on to investments until its logical end.
With this, allow us to take you through the Goal Planning module to help you understand how to use it to your benefit.
A – You can access the goals with the Dashboard or Goals tab beside Menu option.
B – Once you click on either of the two, you will land in the Goal planning feature where various predefined goals are listed.
The predefined goals were selected based on the preferred choices of Indian Investors. The broad categories are:
International Vacation – New Car
New Gadgets – Education Abroad
Each of these categories has multiple options from which you can select the one suitable to you. Apart from the predefined goals, you can also create your own goal if the predefined goals do not include the objective you wish to invest for.
Once you select any goal of your wish, let’s say you wish to acquire a corpus of 3 Crores for your retirement, you can choose a goal “Retirement Corpus – 3 Crores”. Now you have three decisions to make:
- In how many years you want to achieve this goal
- Whether you wish to adjust the goal amount to inflation (ideally for long term goals, inflation should be included)
- Your Personality Type or Risk profile; you can either choose Safe, Moderate or Aggressive.
And it’s done! You will see the SIP on a monthly basis. Just go ahead and click on Continue.
Now you will the best-recommended funds based on the three inputs given, these recommendations will change even if you change one of the inputs hence it’s extremely dynamic.
- Select the SIP date as per your preference and click on continue.
- You can now pay the first SIP installment or choose the Pay Later option. And your SIP will get registered for the period you have selected to achieve the goal.
In these 5 steps, you can get all of your Financial Goals planned as well as executed.
Not only can you plan the goals with this feature but you can also track the goals on a real time basis.
An individual goal tracker for each goal is available in portfolio option from Dashboard. This will help you to keep track of all the goals and to make sure the goals are on course to completion.
With this Goal Planning feature, we aim to help every investor who wishes to invest in mutual funds.
Lastly the philosophy behind this feature can be simply put in words of Warren Buffet:
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
Hence, take steps to plant seeds of your future today!
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