You have sat down with a client that is interested in investing in exchange$-$traded funds $($ETFs$).$ The client is quite risk$-$adverse but doesn$$t mind diversified holdings in stocks, like ETFs. They would not be comfortable investing in individual stocks. If the client wants to start saving for a house and is willing to save as much as they can to get a down payment. The client is reluctant to allocate to the company$$s $401$k plan since they want to buy a house as soon as possible. Even with the current savings plan it will take anywhere from $7$ to $10$ years to save up the capital needed to put a substantial down payment on a house in the neighborhood the client wants to live. They will need anywhere between $$200-300$ thousand for a down payment in the current day$$s dollars. You may want to forecast inflation during the savings time, A$.$K$.$A a forecasted real return may be used. Given this client$$s scenario recommend a savings plan and asset allocation recommendation. $5.$ How much would you recommend that the client saves each month to reach their goal if they are to get an $8\%$ annual return on a balanced mutual fund? Make sure to be specific as to asset classes, the types of securities used, and percentage of the portfolio.