Question

Taylor is a 35-year-old woman who has not yet planned for retirement. She would like to retire at age 70. Answer each question using complete sentences.

Part I: In what type of investment should Taylor deposit her money? Why?
Part II: At what age, or point in your life, would you like to start saving for retirement?
Part III: In what type of investments would you like to deposit your money into when you start saving for retirement? Why?

Answer 1

Part I: Taylor should deposit her money in a fix deposit account. This is because at the age of 35, she might be having responsibilities. So unless she commits herself, she may end up saving nothing.
Part II: I would state saving for my retirement immediately i start earning. Preferably at my 20s.
Part III: If I am saving for my retirement i would invest in a fixed deposit account. This way my money would be increasing with interest and still getting the dividends at the end of every year.