Goal Systematic Investment Plan

We all have dreams and desires, but most of us do not plan our investments according to our goals. The investments are made with a single minded focus on maximizing returns. This often leads to investment mistakes, like trying to time the market. Goal Systematic Investment plan helps the investors to make SIP investments with an objective to meet a pre-assigned Goal like Child education, Marriage, home, retirement etc.


Plan for your Goals

The following are different types of goals. The below list is indicative and depends on life stage and ambitions of each individual.

Short-term

1-3 Years

Foreign Vacation

Mid-term

3-5 years

Buying a car

Starting a business

Long Term

More than 5 years

Retirement

Children’s Education

Children’s Marriage


How to Plan your Goals?

Before listing your goals, you need to prioritizing them so that you can plan important goals first. Also your goal should be SMART

For instance, "I wish to accumulate Rs. 25 lakh by 2025 to fund my kid's higher education", is an example of a SMART goal.

Also consider inflation, while computing the future value of your goals. Assuming the current cost of funding your daughter's education is Rs. 5 lakh. After five years, you would require Rs. 6.38 lakh, assuming an inflation rate of 5%.

Hence, you should work with your financial advisor to review your goals, say annually and update for any major life changes.


Benefits of Goal Systematic Investment Plan:

Goal based investing adds a direction to an investment. It is a well thought out and structured process where you know the purpose of why each rupee is being invested. The performance of Goal based Plans is measured by how successful are the investments in meeting an individual’s lifestyle and personal goals, discouraging investor’s short-term impulsive actions.


How does Goal Systematic Investment Plan Work?

An investor can specify the target value for his/her goal while making his investments. He can choose from any of the existing schemes of Mirae Asset Mutual Fund to invest his/her savings on a periodic basis, by way of Systematic Investment Plan (SIP) with intent to meet the defined goal. By starting your Goal SIP, you avoid the hassle of aiming for appropriate market timing, along with the added advantage of compounding and long term wealth creation.


ELIGIBLE SCHEMES FOR GOAL SIP

Type

Name of Scheme

Eligibility

Equity

Mirae Asset Large Cap Fund

Yes

Mirae Asset Emerging Bluechip Fund

Yes

Mirae Asset Great Consumer Fund

Yes

Mirae Asset Healthcare Fund

Yes

Mirae Asset Focused Fund

Yes

Mirae Asset Midcap Fund

Yes

Hybrid

Mirae Asset Equity Savings Fund

Yes

Mirae Asset Hybrid Equity Fund

Yes

Debt

Mirae Asset Savings Fund

Yes

Mirae Asset Cash Management

Yes

Mirae Asset Tax Saver Fund*

Yes

Mirae Asset Dynamic Bond Fund

Yes

Mirae Asset Short Term Fund

Yes

  

* Each installment in Mirae Asset Tax Saver Fund will be locked in for 3 years

For the list of schemes which are eligible for this facility and other terms and conditions, please refer to the facility form.

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