This Father's Day, gift your dad a mutual fund scheme

All our lives our fathers have helped us in our financial needs and it’s now time to give back. While roses fade away and cups may break, there is something you can gift that will last a lifetime. This father’s day, let’s put a twist on gifting and give your father a mutual fund scheme.

If you’re stumped by how this would be possible, there are a few things you can do. Before you begin with where you need to invest, you need to take a step back. The best approach you can take is to follow a goal-based route to investing. This approach puts your goal at the forefront so that your investment plan is customised to meet this goal.

When taking a goal-based approach, start with the goals you need to plan for. A trip for the next long weekend, tickets for Wimbledon, gifting him his favourite car, creating a little corpus as a retirement gift or something else. Whatever your goal may be, it’s important to map out the specifics and state the timelines to achieve these goals. Once you have a goal in place, you should think about how you will achieve these goals.