A reader asked us: I have just started my first job and abron al I want to start saving and investing for my passion which Is travelling. How do you think I should go about it?
HERE’S WHAT THE EXPERT SAID
AVP & Financial Planner, Clovek Wealth Management Private Limited
If you want to visit your dream destination within six months or a year you should start an SIP in Liquid Funds. These funds lend to good companies for a short period and the interest income earned is the primary source of returns. Due to this, Liquid Funds are low risk and at the same time, you get a chance to earn up to 50% higher returns than your savings bank account. Moreover, some Liquid Funds allow you to redeem instantly, there is no lock-in period and are almost as liquid as a savings bank account. Investment in Mutual Funds is beneficial for all your financial goals because it has a scheme for every goal.