Fund suitable for you to save money for your retirement

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1 ) Select a fund suitable for you to save money for your retirement. You are beginning to save today, and intend to contribute to the fund monthly throughout your career. Using the historical 5-year return number, how much would you need to save each month to reach a $2,000,000 goal by the time you turn 65? Would you recommend making changes to this fund as you get closer to retirement? Why or why not?

2) Select a fund suitable for you to save money for your newborn daughter. You have $1,000 to save today, and intend to contribute to the fund monthly. How much in total will you need to accumulate by the time your daughter turns 18 if you want to have enough to pay for her tuition (you will expect her to pay for her room, board, and books)? Using the historical 5-year return number, how much would you need to save each month to reach that goal? Would you recommend changes to this fund as your daughter ages? Why or why not?

3) Select a fund suitable for you to save money for your emergency cash reserve. Assume you spend $4,000/month on living expenses. How much in total will you need to accumulate in your emergency fund? Why did you choose this amount? What are the primary considerations for a fund designed to meet these needs?

4) Select a fund suitable for you to save money for a dream vacation trip when you turn 30. Determine where your trip will be, and the approximate cost. If you start saving today, how much will you need to save each month to meet this goal? What are the primary considerations for a fund designed to meet these needs?

Reference no: EM131444284

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