Savings and Investments do not have a specific age from when you can commence. Although it is suggested that earlier you begin investing, the better will be your chances of building a huge corpus.
In a hurry to invest, investors generally make the wrong decisions. Building a diversified portfolio at once is not advised. It is a step by step process of first investing a required amount in one fund, then observe your savings pattern and finally move on to diversifying your portfolio.
The impact of making such hasty decisions is reflected in the performance of the funds. You can tend to lose out on all your funds and enter into debt of opting for a personal loan or a home loan to repay your borrowed finances or finance your financial goals. As a prudent investor, you need to analyze the performance record and history of the fund you want to invest. Generally, opting for a NFO may not be very wise, because they have not yet faced the market cycles and hence your exposure to risk is more.
The Value Research fund rating is a good starting point for selecting funds. The more the stars, the better the fund.
Get a good market research of the funds you want to invest. After all it’s your money and your family’s financial goals that need to be fulfilled.