Goal Based Investing: Goals which we can accomplish from the markets

I have been using Direct Stock Corpus for various goals.
As & When I book profits on over valued stocks, I shift some part of it to few goals using Bank FD, Liquid Funds, Overnight Funds. I have a process for this, which I have been using for past 10+ years.
Since I invest mainly in undervalued stocks from 3-5 years perspective, it is possible for me to allocate some funds to goals on Regular basis. Every year, there are some Sell opportunities and some Buy opportunities.

I also use Equity MF(s) for goals like Children Education, Children Marriage, but also have some small Direct Equity Corpus for all my goals.

I mainly use Dividends for regular monthly expenses as I am partially retired. Even though I churn stocks, but still have some Dividend Yielding stocks all the time in Portfolio. This partly gives me some funds on regular basis.

You have to manage Direct Stock Portfolio more on regular basis. Also, some portion of Direct Stock portfolio is for Wealth Generation.

I have a process and framework for all this hence it might be possible for me.
For most of the people, I think, MF will be better as you know the time frame for Goals and can predict MF returns resonably well.