Where To Look For Top Mutual Funds?

Now that you know a bit about mutual funds I am sure you are wondering where you would go to look for the top mutual funds. Before we cover the best places to look for top mutual funds we should have a look at the characteristics that define the best mutual funds so that you know what it is you are looking for when you go on your great search for the top mutual funds!

What are the Best Mutual Funds?

Choosing the best mutual fund is very much a personal decision that will take into account many things that differ from person to person. For starters, how much money do you want to invest? Some mutual funds will allow you to get started for less than $500 while other mutual funds require investments of upwards of $10,000 or even $25,000! It all depends on what you are looking to get out of your mutual fund. Is it simply a test to see how mutual funds work and whether they are for you or are you looking to make some serious money from your investments? Another thing to think about is your level of risk aversion. While mutual funds are, by definition, lower risk than regular trades there are still varying levels of risks within different mutual funds. Are you planning on taking a long or short term view on your investments? This will also affect which mutual fund is best for you. And of course in this day and age there are many people who are very concerned that their investments be ethically sound. They are not interested in being involved in mutual funds that are doing anything that is socially or environmentally unjust - even if they are top mutual funds! Once you have decided what 'best mutual funds' means to you, you are ready to look at the different top mutual funds that are available.

Where Should I Look for Top Mutual Funds?

As with most things, one of the best places to look for top mutual funds is within your own network. Ask around the people you know who you know are involved in investing about what they would recommend. If they give you a recommendation, quiz them on WHY they have recommended that company and what kind of hard, bottom line returns they have seen. Sometimes people will give recommendations based on having 'heard they are pretty good' - which might be fine if you are looking to get your shoes repaired but probably not so great if you are looking to invest large sums of money! Another reputable source of information can be your financial planner or accountant. Again, you will want to quiz them as to why they are recommending a particular mutual fund. You will want to be sure that they do not have a vested interest in recommending the fund to you. If you have covered these bases and you would still like to know about more top mutual funds there are lots of places you can do good research such as investing magazines, which will often give you an analysis of how the best mutual funds have been performing over a given time period. Looking at performance online and in the paper is also another way to judge how the top mutual funds are performing.

Where Can I Learn More About Mutual Funds?

There is a lot of free information that is available on the internet about mutual funds. While a lot of this information is a good basis, most of the really valuable information is only available as part of a course, whether it is an online course or an offline course. There are lots of courses that will teach you either specifically about mutual funds or generally about trading. Choosing which course is right for you will depend largely on what your long term goals are. If investing in mutual funds is simply about putting your money somewhere relatively safe where it will give you good returns then you do not need a full service course with all the trading bells and whistles. If, however, you are investing in mutual funds as the first step towards becoming a fully fledged, full time trader then you really have to seriously consider investing in a proper course to learn all of the things you need to know about trading not only in mutual funds but generally in the market.

Investing is a very specialized field. Many people think it is like gambling your money at the casino, however when you are armed with knowledge, a good plan and with investment strategies such as investing in the top mutual funds then you significantly cut down on the gambling side of things and can make investing a strong and solid foundation to support your life.