You just celebrated your mom’s joint 65 ^th birthday and retirement partly. Mom has been living on her own for several years. She currently has $573,000 saved. The savings are split between a traditional bricks and mortar bank savings account earning 0.1%, and an on line savings account earning 0.8%. Mom will immediately begin receiving $800 per month from social security. Over the past three years mom’s average pre tax income has been $41,750. Your mom is a committed member of First Presbyterian and faithfully tithes 10% of her after tax earnings. Mom has invited you to help her write down a plan for her retirement years. Mom’s parents both lived to 85. Follow the steps of a basic ‘Portfolio Management Process’ and write mom a two-page letter with your recommendations of what she do.