Life Situation: Peter is $24$ and is employed in his first full$-$time job. He rents an apartment with Kevin, his partner. They are hoping to buy a house in three years. Peter enjoys his job and thinks there are good opportunities for advancement. His employer has set up a retirement pension plan. Peter can select from a number of mutual funds for his pension plan investment. He needs some advice on what type of mutual fund he should purchase for his retirement pension plan. Note: A Retirement Pension Plan $($RPP$)$ cannot be used for a Home Buyer$$s Plan. See chapter $14$ for more information on RPPs$.$

He is relatively conservative and would rate his risk level as $4$ out of $10(10$ being high risk$).$ Peter would rather have slow, steady growth than high ups and downs. He does not want to spend much time managing his investment $-$ about $1$ hour a month. He plans on leaving the funds in a retirement plan until his retirement.

State Peter's investment goals. In stating his goals, you can add reasonable details to the information you have been given. Do not simply list your answers to the guidelines

$.$

$1.$ How much money do you need to satisfy your investment goals?

$2.$ How much and when will you obtain the money?

$3.$ How much risk are you willing to assume in an investment program?

$4.$ What possible economic or personal conditions could alter your investment goals?

$5.$ What are you willing to sacrifice to meet your investment goals?

$6.$ What are the consequences if you don$$t meet your investment goals?

$7.$ Considering your economic circumstances, are your investment goals reasonable?