Calvin Jacobs is a widower who recently retired after a long career with a major Midwestern manufacturer.

Calvin Jacobs is a widower who recently retired after a long career with a major Midwestern manufacturer. Beginning as a skilled craftsman, he worked his way up to the level of shop supervisor over a period of more than 30 years with the firm. Calvin receives Social Security benefits and a generous company pension. Together, these two sources amount to over $4,500 per month (part of which is tax-free). The Jacobs had no children, so he lives alone. Calvin owns a two-bedroom rental house that is next to his home, and the rental income from it covers the mortgage payments for both the rental house and his house.Over the years, Calvin and his late wife, Allie, always tried to put a little money aside each month. The results have been nothing short of phenomenal. The value of Calvin's liquid investments (all held in bank CDs and savings accounts) runs well into thesix figures. Up to now, Calvin has just let his money grow and has not used any of his savings to supplement his Social Security, pension, and rental income. But, things are about to change. Calvin has decided, What the heck, it's time I start living the good life! Calvin wants to travel and, in effect, start reaping the benefits of his labors. He has therefore decided to move $100,000 from one of his savings accounts to one or two high-yielding mutual funds. He would like to receive $1,000-$1,500 a month from the fund(s) for as long as possible, because he plans to be around for a long time.b. What factors in Calvin's situation should be taken into consideration in the fund selection process? How might these affect Calvin's course of action