페르소나 설정

45-yr woman

20년안에 은퇴

$550,000 소유중

current income $160,000 매년 3% 상승.

다음 20년동안 annual income의 12%를 매년 saving하기로 다짐

2013년 1월 1일부터

stocks/bonds/commodities/cash 로 분산

50살 은퇴?!

1. Draw efficient frontiers when she “buy and hold”
   1. shorting is not allowed
   2. shorting is allowed
2. Draw efficient frontiers when she “annual rebalancing**”**
   1. shorting is not allowed
   2. shorting is allowed
3. Prob 1,2에 대해서 Draw efficient frontiers when maximum weight on a single asset is 40% and max value of the short position on short position is 25%
4. Prob 1-3에서 points 고르고

What’s the probability that the investor will be able to retire with a reasonable level of prosperity for these strategies? Assume that reasonable level is defined as 80% of the average of her last five years of salary.