Personal Finance Here are steps to create a successful long-term financial plan Updated : November 21, 2018 02:49 PM IST The first approach to select funds is that one should identify the financial goals and the time horizon it will require to accomplish that financial goal. Make sure that the fund also suits your risk appetite. Analyse your risk taking capacity by answering a set of questions which will help you get to know your risk appetite. While getting your financial plan made, you can actually calculate the exact monthly investment you need to make towards a particular financial goal. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.