• Roe stated that he wants to have a positive return on his $500,000 portfolio at all times, and that his required before-tax return is 7%. On a risk aversion questionnaire, Roe scored an 8, with 10 indicating the highest risk aversion.
• Morgan indicated that her $1,000,000 portfolio must generate a 2% return each year in order to meet her living expenses without making any withdrawals from the portfolio’s principal. On a risk aversion questionnaire, Morgan scored a 3, with 10 indicating the highest risk aversion.

Portfolio	Expected Return	Standard Deviation
A	5.5%	7%
B	6.0%	8%
C	6.5%	10%
D	8.0%	15%