Mutual funds for a 24-year-old new investor

I am 24-year-old. I want to start investing in mutual funds and I am ready to take moderate risk. I want to invest for the next 30 years. My goal is to accumulate some money. Suggest some funds for long term investment. Along with it please suggest funds that can save tax.

—Kaustubh Pingale

First, do you know enough about mutual funds? If no, you should seek the help of a mutual fund advisor. Only an advisor near you would be able to offer you personal advice after noting down your personal details. Do not take investment or tax planning decisions in isolation.

Moderate long-term investors are typically asked to invest in flexi cap funds. However, you should remember that these funds invest across market capitalisations and sectors and they are risky. Make sure that you are okay with the extra risk. If you are uncomfortable with the extra risk, stick to large cap or aggressive hybrid schemes.

Also read:

Best flexi cap mutual funds to invest in 2021

Best tax saving mutual funds or ELSS to invest in 2021


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