Please discuss following topics:

1. As people get closer to retirement, their investment goal often changes. Assume your parents are 60 years old now and have accumulated $200,000 in a retirement account. Also, assume they would like to retire when they are 65. In this situation, which type of mutual funds would you recommend for them to invest? Why?

2. You have studied personal finance for 7 weeks. Personal financial management simply means gaining an understanding of your financial situation to make the most of your assets in daily life and in planning for your future. So, what do you learn most from the course? How can you apply the knowledge and skills you gained from the class to make wise financial decisions? Please be more specific.

This assessment fulfills the following course objectives (s):

• Have knowledge of bonds and stocks and other investment choices. Meets the JMSB goal of problem-solving
• Comprehend the need for retirement and estate planning. Meets the JMSB goal of problem- solving.