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Taylor Robinson, age 60, recently retired from her position as director of public giving for United Electric Power, a large public utility company. Robinson has accumulated $2,000,000 in her 401(k) portfolio for retirement. Robinson estimates that she will need $50,000 after-tax in today’s dollars to live comfortably. Inflation is expected to be 2.5% annually. With her background in public giving, Robinson has two favorite charities and would like to make non-tax deductible gifts of $10,000 to each of them annually, indexed for inflation. In her will, Robinson has specified that at her death, a gift fund will be established for each charity. Given this objective, one of Robinson’s primary goals is to maintain the principal in her retirement fund in order to have a $1,000,000 gift account for each charity. Robinson recently met with her financial advisor, Brian Mitchell, CFA. During their meeting Robinson stated, “If I wanted to gamble with my investments, I would play blackjack. At least then I would have fun losing money.” Mitchell presented Robinson with three different model portfolios.
Which of the portfolios would be most appropriate for Robinson? A. Portfolio A. B. Portfolio B. C. Portfolio C. |