What Investment mistakes you made that you want others to avoid?

VivekSood said:
I have multiple SIPs of same fund for as low as Rs.1250 debiting my account at different dates of month
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So like you have 5K invested in one mutual fund per month but in 4 installments at different dates of the same month? Did the strategy work in your favour you think? I understand you are trying to spread the investment so that you can potentially get better NAV of the same fund.

I did this recently with two of my funds but it happened only because I invested X amount for a month then decided I want to invest 2X and couldn't figure out how to change SIP amount so just started another SIP on same folio same fund.
 
raksrules said:
So like you have 5K invested in one mutual fund per month but in 4 installments at different dates of the same month? Did the strategy work in your favour you think? I understand you are trying to spread the investment so that you can potentially get better NAV of the same fund.

I did this recently with two of my funds but it happened only because I invested X amount for a month then decided I want to invest 2X and couldn't figure out how to change SIP amount so just started another SIP on same folio same fund.
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I am not sure .. no way to find out those numbers. I pick up different dates.
 
raksrules said:
You can definitely find that from your transactions history. If you are always having same amount, you can see how many units you got for each transaction.
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How will I compare to what units I would have gotten if I had done different amounts? Sounds too complicated.
 
Has anyone invested using moneycontrol.com?

I've never invested in mutual funds, is that the right to invest from? Or should I go on the official sites of the funds (Axis,Nippon, etc.) and invest from there?
 
KrishT said:
Has anyone invested using moneycontrol.com?

I've never invested in mutual funds, is that the right to invest from? Or should I go on the official sites of the funds (Axis,Nippon, etc.) and invest from there?
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If you are new to MFs, then first read some books/check few Youtube videos to gain knowledge and plan your investments first.
Then, goto respective apps and invest by selecting direct option. If you are not KYC complaint then Aadhaar based KYC limit would be 50k per Asset Management Company per year else no limit!
 
KrishT said:
Has anyone invested using moneycontrol.com?

I've never invested in mutual funds, is that the right to invest from? Or should I go on the official sites of the funds (Axis,Nippon, etc.) and invest from there?
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You can ... Best way to do is from official site then install mycams and kfinkart mobile apps to transact later. moneycontrol/groww and others are third party apps to assist us. Just make sure you do direct fund not regular.
 
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nishthecooldude said:
If you are new to MFs, then first read some books/check few Youtube videos to gain knowledge and plan your investments first.
Then, goto respective apps and invest by selecting direct option. If you are not KYC complaint then Aadhaar based KYC limit would be 50k per Asset Management Company per year else no limit!
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If you can get over the dated interface then MFUOnline is the best portal. It is the official portal of AMFI (Association of Mutual Funds in India) and once you set it up, you can invest in almost all mutual fund schemes available.

www.mfuindia.com

MF Utilities India - MF Utility - Home

MF Utiility is an Initiative by and For the Mutual Funds in India and facilitates convenient submission of transactions for any of the participating mutual fund both online and offline
www.mfuindia.com www.mfuindia.com

Here's the list of all available fund houses, except UNION, UTI, and YES. They are listed after TAURUS on the list.
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Just don't go crazy investing in multiple mutual funds after you've created the account. There's no point in spreading yourself too thin.
 
Mr.J said:
If you can get over the dated interface then MFUOnline is the best portal. It is the official portal of AMFI (Association of Mutual Funds in India) and once you set it up, you can invest in almost all mutual fund schemes available.

www.mfuindia.com

MF Utilities India - MF Utility - Home

MF Utiility is an Initiative by and For the Mutual Funds in India and facilitates convenient submission of transactions for any of the participating mutual fund both online and offline
www.mfuindia.com www.mfuindia.com

Here's the list of all available fund houses, except UNION, UTI, and YES. They are listed after TAURUS on the list.
View attachment 103031

Just don't go crazy investing in multiple mutual funds after you've created the account. There's no point in spreading yourself too thin.
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Yep 4/5 max including one ELSS.
 
pauldmps said:
Or use an app like Groww, PayTM Money or Zerodha. I personally like Groww the best due to its UI. They also don't charge any commission.
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Will only recommend groww just because new users may find it very user friendly. Not sure if paytm funds are direct and zerodha is primarily for trading IIRC.
 
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Kuvera IMO is far better than others. Investing via Zerodha Coin gives one an easy point for tax computation, the DEMAT approach may have downsides depending on one's perspective.
 
pauldmps said:
Or use an app like Groww, PayTM Money or Zerodha. I personally like Groww the best due to its UI. They also don't charge any commission.
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I would suggest skipping all these broker apps and directly invest using AMC’s site as it will have few benefits:
1. Data would not be collected by these apps and only by AMCs which will also be anyways collected even going via these apps.
2. They are not putting any charges today on direct plans but who knows what rules change and one has to pay charges while redeeming them after few years and your hands would be tied then.
3. Cutoff times are better in direct AMC apps 3pm rather than these broker apps (Zerodha Coin has (1-1:30) so one gets more benefit to decide while buying or selling near 3pm!
 
nishthecooldude said:
I would suggest skipping all these broker apps and directly invest using AMC’s site as it will have few benefits:
1. Data would not be collected by these apps and only by AMCs which will also be anyways collected even going via these apps.
2. They are not putting any charges today on direct plans but who knows what rules change and one has to pay charges while redeeming them after few years and your hands would be tied then.
3. Cutoff times are better in direct AMC apps 3pm rather than these broker apps (Zerodha Coin has (1-1:30) so one gets more benefit to decide while buying or selling near 3pm!
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Agreed. I do it only via respective sites. Kuvera for portfolio tracking.
 
I just registered on official websites for each fund then used phone apps to transact. I have avoided third party apps.
alekhkhanna said:
Agreed. I do it only via respective sites. Kuvera for portfolio tracking.
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Will try kuvera for the same reason you mentioned.
 
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