Create a comprehensive list of goals
Assign a price and a timeline to each goal
Consider amounts presently invested towards the goals
Formulate a strategy to achieve the goals
Make investments keeping the risks to a minimum.
Mutual Funds are the best way to invest if you are someone who does not understand the intricacies of the stock market or do not have the time to understand it. You can invest in debt which is relatively safe or in the most volatile combination of shares .
Investment planning should be done for a specific goal. Say, you want to save for a child's education in 3 year's time. The money should be invested in a Fixed Deposit with. It is necessary to decide the goal and then look for an appropriate investment.
Retirement planning should ideally start from the first wage packet. Starting early and giving enough time to get to a reasonable total, makes it possible to go for investments with higher returns and eventually build up a good retirement kitty to enjoy the golden years.