American Funds New Perspective
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Hugh Said:
My draft 401k plan..any suggestions?We Answered:
I think it is a very good plan. I would put a little less in the Contrafund only because the fund is too large.You are to be commended. It appears you have done your homework. Keep up the good work you should do very well.
Kenneth Said:
Need some advice on investments?We Answered:
These are mutual funds. Check their history and look for a good growth stock mutual fund with a history of 10+ years. Go for an average return of 12%. At 12% your money will double every 6 years.Use the "rule of 72" to determine how quickly your investment will double. Take 72 and divide by the expected return, the result is the number of years it takes to double the money. (A return of 12% is 72/12=6, so $1 would be $2 in 6 years)
Save up.