Blake bought into a stock mutual fund as a retirement investment six months ago. Since then, he has watched the prices slowly drop each month. He realizes that there are periodic downturns in the...

Blake bought into a stock mutual fund as a retirement investment six months ago. Since then, he has watched the prices slowly drop each month. He realizes that there are periodic downturns in the market, and this retirement investment is not something he will tap for close to 40 years, but he is afraid that his investment will soon be worthless. He is tempted to cash in the stock and move what funds are left to another instrument. What advice would you give him?

A summary of the housemates’ goals can be found in the first Continuing Case problem in Chapter 1.

Continuing Case problem in Chapter 1

Throughout the text, the continuing case scenario at the end of each chapter will involve situations encountered by the housemates of 906 East College Street. All of the residents are either current students or recent graduates. Leigh, Blake, and Nicole are siblings. Their parents bought the home, which is close to campus, as an investment when Leigh started at the university her freshman year. The following profiles describe each of the housemates and their intermediate goals.

1. For each housemate, identify a SMART short-term goal that supports his or her success in achieving an intermediate goal.