New Delhi, Nov. 6 -- To achieve your financial goals by investing in mutual funds, it is pertinent to invest on a regular basis via a systematic investment plan (SIP). The investment made early in your career tends to grow disproportionately over time because the return that accrues in the first few years becomes the principal in later years, thus enabling the investment to grow at a faster pace in the later years.

Another important element to keep in mind while trying to achieve your financial goals is to be specific about your goals.

For example, if you believe that you will need Rs.1 crore to meet your financial goal, which is due in 2040, i.e., 15 years from now, then it is essential to create your plan accordingly.

Here, we outlin...