A reader sold a house in Toronto and was looking for some advice on what to do with the money left over after buying a condo. Their bank had just the thing for her and her spouse.
The bank suggested they put their extra money in a balanced mutual fund “designed for retirees,” this reader said in an e-mail. The fund was described to her as being largely build with income-generating bonds and blue chips. “Is this a good way to go?” the reader asked. “How much should we invest, if this is an appropriate strategy?”Report Typo/Error