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沪上小王子 · 2024年01月08日

本题到底是constraints改变,还是 goals改变

NO.PZ2022122801000055

问题如下:

Emma Young, a 47-year-old single mother of two daughters, ages 7 and 10, recently sold a business for $5.5 million net of taxes and put the proceeds into a money market account. Her other assets include a tax-deferred retirement account worth $3.0 million, a $500,000 after-tax account designated for her daughters’ education, a $400,000 after-tax account for unexpected needs, and her home, which she owns outright.

Her living expenses are fully covered by her job. Young wants to retire in 15 years and to fund her retirement from existing assets. An orphan at eight who experienced childhood financial hardships, she places a high priority on retirement security and wants to avoid losing money in any of her three accounts.

Ten years later, Young is considering an early-retirement package offer. The package would provide continuing salary and benefits for three years. The broker recommends a special review of Young’s financial plan to assess potential changes to the existing allocation strategy.

Identify the primary reason for the broker’s reassessment of Young’s circumstances. Justify your response. (新增课后题)

选项:

解释:

答案中解释到time horizon属于constraint,但也与goals有关,所以goals可不可以选?

1 个答案
已采纳答案

lynn_品职助教 · 2024年01月08日

嗨,努力学习的PZer你好:


答案中解释到time horizon属于constraint,但也与goals有关,所以goals可不可以选?


是属于,但是不选目标。


目标是与投资者的风险承受能力或风险偏好相关,


这道题目中Young的目标是fund她的退休生活花费,因为8岁成为孤儿,她的目标是退休保障以及尽量避免三个账户的损失。虽然决定提前退休,但是她上述的目标没有改变,仍然是偏保守地保障她的退休期间花费。


这道题首先选择Change in constraints。其次,这里需要写明,这个package带来的是环境的变化,环境的变化影响的是constraints,而不是goals and belief。


环境的变化影响的是constraints,我们在意的是“环境”发生了变化,


Young作为一个退休的人,她现在的投资考虑要从退休的角度出发了,


投资者的风险承受能力或风险偏好是与change in goals相关,这道题目中Young的目标是fund她的退休生活花费,因为8岁成为孤儿,她的目标是退休保障以及尽量避免三个账户的损失。


虽然决定提前退休,是涉及了time horizon,但是她上述的目标没有改变,仍然是偏保守地保障她的退休期间花费。

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