How do I create a goal?
You can create goals by going to smart portfolios under the goals tab choosing the goal from the predefined list of goals with standard fields or creating your own customized goals as per your needs.
What are the benefits of creating a goal?
Setting up goals helps you give purpose to your investments and keeps you focused on your objectives. It lets you organize your diverse investments across assets in one single bucket allowing you to diversify your asset allocation for the stability of your goal.
It helps to adjust your goals as your risk-taking appetite by factoring in your risk profile, allowing your 3 types of growths that be Stable, Secure, and Rapid, which is also aligned with a goal’s asset allocation giving the right balance of asset diversification needed to achieve your goal under different risk scenarios.
SIP calculation, helps you by telling how much SIP and IRR (internal rate of return) you need to achieve your goal based on the target amount and timeline that is provided. This helps you plan your goal investment accordingly.
What type of goals can I create?
You can create various goals such as Retirement, Home purchase, Emergency Fund, Education, Travel, and Custom goals. All these goals are standardized with predefined input fields to help you with the necessary information needed to achieve your goals.
How Can I customize my goals?
Yes, you can customize your goals. If the predefined list does not fit your needs, you can create your own custom goal by specifying the name, target amount, and timeline, and adding the relevant investments.