Group Mutual Fund Research Project

Finance 331 – Group Mutual Fund Research ProjectAs a team, research and select a mutual fund to meet each of the following objectives. Prepare a one paragraph write-up outlining the research your team completed, and why your team chose this particular fund. Be sure to note the key decision making criteria you used when choosing this fund, and the underlying assumptions that went into your analysis. Finally, show the work that went into your calculations (for example, how you determined the monthly amount to save for the home purchase).
Goal 1: Home Purchase in 5 Years
Select a fund suitable for you to save money to purchase a home in 5 years. You have $5,000 to save today, and intend to contribute to the fund monthly. How much will you need to accumulate by the end of 5 years if you wish to purchase a $300,000 home with 20% down? Using the historical 5-year return number, how much would you need to save each month to reach that goal?
Goal 2: Retirement
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?
Goal 3: College Savings
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?
Goal 4: Emergency Fund
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 your recommend accumulating in your emergency fund? What are the primary considerations for a fund designed to meet these needs?
Team 5: Vacation Fund
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?

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