问题如下：
The Red family has the investable assets of $1.2 million. Tom, the portfolio manager of the Red family, follows a goals-based approach to asset allocation and offers three possible portfolios to consider.
The Red express a very strong desire to fund their children’s college education expenses, which have an estimated present value of $250,000. Given that the children will be starting college soon, which portfolio is most appropriate?
选项：
A. Portfolio 1
B. Portfolio 2
C. Portfolio 3
解释：
A is correct.
考点：goal-based approach
解析：教育支出的现值为$250,000，支付的时间就在近期，而Red一家对于实现这笔目标的意愿很强（very strong desire），所以portfolio需要有很强的流动性和稳定性，Portfolio 1中cash占比最高，所以选A。
这里流动性需求应为250/1200=20%多，感觉只要满足现金和债券的配置比例略微超过20%就可以了，为啥答案需要浪费这么多比例放到债券上呢？
