Customer Name: Jane Smith
Age: 41
Marital Status: Single
Dependents: 1 Child, A...
Business, 25.03.2020 20:09, tddreviews
Customer Name: Jane Smith
Age: 41
Marital Status: Single
Dependents: 1 Child, Age 7
Occupation: Corporate Manager
Household Income: $120,000
Net Worth: $150,000 (excluding residence)
Own Home: Yes
Investment Objectives: Saving For College; Saving for Retirement
Investment Experience: 10 years
Current Portfolio Composition: $140,000 Market Value
50% Money Market Fund
50% Corporate Bonds
This client has just inherited $100,000 and wants to use the funds to pay for her child's college education. She also has asked whether her current portfolio meets her goal of maximizing saving for retirement. Based on this information, the best recommendation to the client is to:
A. deposit the additional $100,000 to the money market fund to ensure that the funds will be available to pay for college
B. open a 529 plan with the $100,000 inheritance, investing in a growth fund; and liquidate both the money market fund holding and the corporate bond holdings, using the proceeds to buy growth stocks
C. open a 529 plan with the $100,000 inheritance, liquidate $50,000 of the money market fund and $50,000 of the corporate bonds, using the proceeds to buy growth stocks
D. open an UGMA account with the $100,000 inheritance investing in growth stocks
Answers: 1
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