Mutual fund houses and advisors are busy promoting goal-based investing. Many investors seem to have understood the importance of having a goal and investing to achieve it. However, most investors fumble when it comes to calculating the value of their future goals.
Many investors just pick a random number. We have seen many investors picking up big numbers, usually Rs 50 lakh or Rs 1 crore which they think will suffice for their future. (Read the story: Will Rs 1 crore be enough to take care of all your needs after 15 years? )
