New Delhi, Sept. 2 -- Starting your investment journey is exciting-until you realise that when you need the money matters just as much as how much it grows. If your goal is only three to five years away, going all-in on equity could leave you scrambling after a market fall. So, how much equity is actually enough-and when should you start cutting your risk?

The best way to build your investment strategy is to take a goal-based approach. If you're saving for something big, for example, buying a house five years from now, then your investment approach should look very different from how you'd invest for a three-year goal. As your goal gets closer, protecting your money matters just as much as growing it.

Shashank Udupa (SEBI RIA) breaks do...