You Have Been Very Risky with Your Investments But,having Just

question 38

Multiple Choice

You have been very risky with your investments but,having just turned 50 years of age,your investment adviser suggests you reallocate to reduce your risk.He advises you that your returns will be lower but it would be a wise move.You have $236 000 saved and wish to retire with $300 000.When will you be able to achieve this if the return is now 5.5 percent compounded monthly?

• A)In 4.37 years
• B)In 5.5 years
• C)In 9.91 years
• D)In 1.3 years

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Definitions:

Spiritual Distress

A condition of distress linked to the diminished capacity to find and assimilate significance and direction in life through bonds with oneself, other people, the arts, literature, the natural world, or a higher power.

Social Isolation

A state of minimal or no contact with society or other individuals, which can lead to feelings of loneliness and have negative effects on health.

Risk for Suicide

The likelihood or potential for a person to attempt or complete suicide, often influenced by various mental, emotional, socioeconomic, and biological factors.

Arthritis

A common condition causing inflammation and pain in the joints.