And as suggested by experts in a subjective scenario, some such rather common goals of a young individual can be to be an extent be fulfilled by investing wisely and judicially in these financial instruments.

Considering different life stages, we discuss few such goals and the corresponding asset class which can be bet on for meeting the goal.

1. As a youngster when one begins to earn, different wants arise that can be a desire to purchase any gadget or something else. However proper planning and saving for the desire and then splurging on it, shall be a diligent exercise.

2. For marriage related expenses: In today's scenario when children want to contribute or bear the marriage related expenses completely on their own, for realizing the desired sum, in case you foresee marriage to happen in not so distant future, the amount held in the savings bank account can be transferred to an ultra-short term bond and in case of the same dividend reinvestment option can be opted that reduces tax liability. Know more about ultra-short term bonds in detail.

3. Car purchase: Another goal that also sets in during the course is the purchase of a car which can be met by investing in equity oriented balanced mutual funds scheme. Profits can be booked and as one nears the corpus amount decided for the purpose one can shift them to the debt instruments.

4. For child's education needs: Child insurance which many bet into is not the only good option for securing the child's future. As the expense is an ongoing one and substantial corpus shall be required for higher education in the long term considering the rising cost of education (as per study of the total expenses that are incurred on child appx 46% is accounted by education), one can park funds in equity schemes with exposure to a mix of mid and small cap funds and a mix of mid and large cap funds.

5. For health care expenses: Expenses for the healthcare cost can to an extent be covered by the health cover provided by the employer but to make it sufficient to cover any likely medical emergency you need to top up with an individual or family floater plan.

6. For retirement: Of the many different options available, you can continue to park funds in PPF, NPS scheme. Know which is a better investment option for retirement.

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