A
AcadiFi
Investment Policy StatementHard

Rebecca Thornwell, 58, has just retired with an $8M portfolio. She needs $250,000 in annual after-tax spending. Inflation is 2.5% and her marginal tax rate is 25%. Her risk ability is above average (large portfolio, long horizon), but she describes herself as 'very conservative' after the 2008 crisis. The appropriate risk tolerance conclusion for the IPS is: