Buying mutual funds online seems to be fast catching up. Paytm Money is one such online platform for mutual fund investment for individuals willing to invest for their long term goals. The platform with its flexible features can come handy for meeting the needs of millennials and new investors, especially from Tier 3 and 4 cities.

For someone starting to invest in mutual funds, it will require several aspects about investing to grasp with. From ascertaining one’s risk profile, identifying and estimation of goals, one needs to do some basic groundwork even before investing. Paytm Money offers free Risk Assessment and Advisory Investment Portfolios to new users who need hand-holding in their journey towards investment and wealth growth. Millennials who wish to kick-start their investing journey can find such financial tools handy on their way in creating wealth.

Sharing some insights on the investment by millennials, Paytm Money feels millennials have become increasingly aware and tech-savvy to know the importance of early investing and the power of equities. As several studies done in the past have shown that equities have the potential to generate higher inflation-adjusted returns than any other asset classes in the long term. Equities by nature are volatile over short to medium term and hence investors need to stay for a longer time horizon to realise the full potential of this asset class. Given the high-risk appetite of young investors who are willing to stay the course of long term investing, equities have established itself as the preferred option.

If investing is aimed for long term goals, investing a lump sum is ideally the right way. However, for those, especially salaried individuals, who may not have a lump sum to invest regularly, SIP fits the bill. SIPs not only inculcate a savings habit but also keeps the average cost of owning MF units at a lower cost than otherwise.

Paytm Money offers features that help such millennials to manage their SIPs in an efficient manner. This includes the facility to pause the SIP, top-up SIP, schedule SIP now and pay later and Auto Pay using physical mandates. So investors may pause SIPs when they don’t have money and resume it as soon as they have money.

While online platforms make the investing job easier, one also needs to be careful as far as entry and exit from MF schemes is concerned. Millennials and new investors need to understand that selection of the right MF scheme goes a long way in determining the final corpus over the long term. The practical way to get hold of MF investing is to start small and read more about investing, MF in particular. After all, the DIY (do-it-yourself) approach is all about equipping oneself by making mistakes and learning from them.