Avoid long-term money market

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My wife, aged 69, and I, aged 78, have invested $17,500 in a money-market mutual fund. We were told the yield would fluctuate, and it has. We don't need income for another 10 years, perhaps never. Our children do not need money now. How good and safe is this investment? Is it right for our age and financial position? H. V.

Too many people consider a money- market mutual fund a long-term investment. The only return from such a fund is income. Since the share value remains constant, there is no potential for appreciation.To meet your stated objectives, you should be investing in sound growth stocks at this time. You could do this by investing in several companies for diversification or in two or more growth-oriented mutual funds. Look into several conservatively managed no-load growth funds to provided diversification. Growth stocks or funds typically yield little income, because company earnings are being channeled back into the business to foster growth.

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