You just celebrated your mom’s joint 65 ^th birthday and retirement partly. Mom has been living on her own for several years. She currently has $573,000 saved. The savings are split between a traditional bricks and mortar bank savings account earning 0.1%, and an on line savings account earning 0.8%. Mom will immediately begin receiving $800 per month from social security. Over the past three years mom’s average pre tax income has been $41,750. Your mom is a committed member of First Presbyterian and faithfully tithes 10% of her after tax earnings. Mom has invited you to help her write down a plan for her retirement years. Mom’s parents both lived to 85. Follow the steps of a basic ‘Portfolio Management Process’ and write mom a two-page letter with your recommendations of what she do.

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The Portfolio Management Process is the process which the investor must follow to meet his or her financial goals in the future The steps that should be followed in the process to achieve the financia... View the full answer