Volatility and portfolio management

1) How would you approach volatility and portfolio management for these three different investors and why? When answering be as broad or general as you would like. 20-30 years old, young professional, debt paid off. Stable job. Planned retirement of 65. 30-50 years old, nearing the middle of his career, stable, planning for his family and children. Planned retirement still 65. 65 years old, just retired, looking to enjoy his golden years. 2) The major difference between a financial structure of a non-profit vs for-profit hospital lies in the fact that non-profit hospitals don't pay federal income tax or state and local property taxes. For-profit hospitals treat predominantly capable of paying for the services provided to patients. Non-profit hospitals are usually designed to have a much more profitable payor mix. The financial downside is that they need to pay corporate taxes. Does the for-profit hospital have a higher risk of investment because of the taxes? How does this information affect capital structure decisions?