Your dient, Cosmo, recently inhenited $50,000 from his uncle. He wants to use this money towards his retirement savings. Cosmo is a 50-year old, self-employed carpenter and he earns on average $65,000 per year. He has a registered refirement savings plan (RRSP) with the bank worth $425,000 and a tax-free savings account (TSA) worth $46,000. He started saving when he was 25 years old and has always made his own investment decisions. His money is mostly invested in balanced funds. He feels most comfortable with these types of mutual funds since they offer potential investment growth but without being too asgressive., Cosmo has no other assets What additional infonnation do you need about Cosmo to fulfill your know your client obligation?

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Thank you for providing me with some information about Cosmo However to fully understand his financi... View the full answer