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Looking to secure your retirement with a healthy nest egg? Like most investors, you’ve probably gotten a bad case of whiplash surveying an increasingly volatile stock market. Just take a look at its recent performance: The Dow Jones industrial average reached a milestone by passing the 14,000 mark in mid-July and, within just one month, dropped below 13,000 due to concerns in the credit markets triggered by the ongoing subprime lending crisis. These developments have left legions of individual investors dazed and confused. But one thing’s for sure: those who invest for the long haul fare much better than market-timers or investors driven by herd mentality.
That’s why our editors worked with Chicago-based mutual fund research firm Morningstar to create a list of consistent top performers. Welcome to our unveiling of the inaugural Moneywise 100 — be’s guide to the best mutual funds across 10 categories. Our criteria include the following:
Three- and five-year total returns in the top quartile of their respective categories
No loads and a minimum initial investment of $2,500 or less
A turnover rate and expense ratio less than the category average
Fund manager tenure of three years or more
In addition to actively managed funds, we highlight a range of index funds plus a few select diversified exchange-traded funds. So whatever you’re looking for, you can find the fund to match your objectives on the following pages. Doing so may get you a bit closer to sandy beaches during your golden years.