Things You'll Need:
- Prospectus
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Step 1
Determine your goals. Mutual funds vary from conservative to aggressive. Whether you're investing toward your retirement or a down payment on a house, there's a fund that's right for you.
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Step 2
Keep in mind that mutual funds are generally long-term investments. Invest only what you can afford.
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Step 3
Consider college. If you live in New Jersey, look into the 529 college savings plans that Mutual Series has to offer. Remember, an investment in education requires caution; contact a financial adviser for professional help.
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Step 4
Aspire to retire. College plans aren't the only thing Mutual Series has to offer. Consider one of the group's more conservative retirement plans.
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Step 5
Research operating costs and fees. Many mutual funds have loads, which are enrollment fees. Furthermore, since a team of professionals manages the mutual funds, all investors must pay a percentage of the operating costs.
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Step 6
Redeem at the right time. Like other mutual funds, Mutual Series funds subject investors to an early redemption fee. Wait at least 60 days before liquidating your assets.
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Step 7
Download the prospectus, which outlines a fund's objectives, assesses its risks and discusses its performance. Carefully read the prospectus before investing.
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Step 8
Look into the past. Before you choose a fund, check its record. You can get a snapshot of the fund's performance on the Franklin Templeton Investments Web site (see the Resources section below). Make sure it performs to your standards.
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Step 9
Contact a financial adviser. It pays to have a professional on your side. Plus, since you cannot directly invest in Mutual Series funds, you'll need a financial adviser to handle your investment.
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Step 10
Keep up with the changes in the market and the performance of your fund. Remember, don't panic if your fund depreciates; it's a natural part of the market cycle.
