This chapter explored a number of different classifications of mutual funds. a. Based on your age and

Question:

This chapter explored a number of different classifications of Based on your age and current financial situation, which type of mutual fund seems appropriate for your investment needs? Explain your answer.
b. As people get closer to retirement their investment goals often change. Assume that you are now 45 years old and have accumulated $110,000 in a retirement account. In this situation, what type of mutual fund would you choose? Why?
c. Assume that you are now 60 years of age and have accumulated $400,000 in a retirement account. Also, assume you would like to retire when you are 65. What type of would you choose to help you reach your investment goals? Why?
Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...