Should you moderate or adapt to their biases

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Reference no: EM133630047

Mr. Boulder (hereafter "Mr. B") is a single 50-year-old, hard-charging pharmaceutical executive earning $250,000 per year. He lives extravagantly and occasionally overspends, but he has saved approximately $1.5 million. Mr. B had a mild heart attack last year but now has a clean bill of health. His primary financial goal is to retire comfortably at 65 and to donate $3 million to his alma mater (he cannot obtain adequate life insurance to cover the gift). You have been working with Mr. Boulder for less than a year. You've drafted a financial plan but have yet to modify Mr. B's preexisting allocation (nearly 100 percent equities). However, you have developed a good working relationship with Mr. B, who listens intently and seems receptive to your recommendations. You believe that Mr. Boulder is a well-grounded person and is self-aware, but you also believe that he has some behavioral issues to deal with.

Questions

1. Analyze and identify the biases displayed by Adams family in this case?

2. Should you moderate or adapt to their biases?

3. What is the best practical allocation for Mr. Boulder?

Reference no: EM133630047

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