Goal-based apps suit investors, but do your homework before following tips

Before you use any goal-based investing platform, ensure that you understand the basics of mutual fund investment

Start-ups are trying to make goal-based investing as easy as shopping online. An investor doesn't need to worry about which fund to pick or how much to allocate between equity and debt. A few swipes on the mobile screen and the platform suggests an investment portfolio based on an investor's risk profile, age and investment horizon.

Sample this: You want to start investing to buy a house. Open the app and fill in details such as tenure and the target amount. Answer a few questions for risk profiling. The platform will tell you the names of debt and equity funds that