Implication for Investors (liquidity) Relatively early during a typical life cycle,there may be a need to liquidate some invested funds, perhaps for a house deposit,a child's education,or an uninsured medical emergency In the case where liquidating an investment early may damage long- term goals,some precautionary funds should be kept in lower-risk securities THE COURSE OF FINANCE 2017 SPRING SJTU 9Implication for Investors (liquidity)  Relatively early during a typical life cycle, there may be a need to liquidate some invested funds, perhaps for a house deposit, a child’s education, or an uninsured medical emergency  In the case where liquidating an investment early may damage long- term goals, some precautionary funds should be kept in lower-risk securities THE COURSE OF FINANCE 2017 SPRING SJTU 9