New Delhi, July 8 -- Should you invest 20% of your salary in mutual funds? Or is 30% the ideal number?

It's a question many first-time investors ask while setting up their first systematic investment plan (SIP). The internet is full of rules of thumb and opinions, that says you should invest a fixed share of every pay cheque. But experts say there is no one-size-fits-all answer.

While percentage-based rules can help investors begin, financial planners say the better approach is to calculate how much you need for future goals and then work backwards to arrive at the required monthly investment.

"There is no single number that fits everyone. It depends on your goals, timelines and existing obligations. Working backwards from a specific g...