Friends, I want to invest for short time and long term both. Can anyone suggest which schemes would be beneficial for both long and short term? (EXCLUSDING FD/ RD/ SB). How about Mutual fund? Any idea...? Tell me about the schemes (whether MF or something else) Aalong with the company name where to invest.
Yes , Mutual Funds are good.. invest in ELSS scheme for tax saving purpose Even if u want to take risk , you can invest in Shares.. They are also good.. Do invest in PPF if u r working .. its good for long term..
THANX. wHAT IS ELSS? YA PPF IS GOOD BUT SHOULD I OPEN THE ACCOUNT IN PSU BANK OR PRIVATE BANK? I DODNOT HAVE IDEA ABOUT SHARES
Dimple, u can open ppf a/c in any psu....nowadays mutual funds are very common..they are less risky than shares..equity based mutual funds ' returns are tax free after 1 year..u join any broker's firm by opening an a/c...u can get information about mutual fund in internet.
@dimple7 ask for suggestions never guidance in financial investments. It becomes a leading question that would attract agents and so called advisors to lure you. Tread with caution with your money. It is hard earned and you cannot blame anyone other than yourself for any decisions. That said and done. Your investment depends on your age, your requirements and % of your take home. Keep 50% in conservative investments when you are starting off or when you are close to retiring. Never keep all eggs in one basket. And invest in mfs, shares and other instrunents based on your risk apetite.
Personally, I would try to invest in an index fund. Most mutual funds will have an index fund which has a lower yearly expense. Also keep in mind, to go for the "direct" option which means you have control over the mutual-fund instead of having an advisor(regular option).