Jan is a 65-year-old widow with one adult son, Ted.She has a part-time jobIn some investment income totaling $40,000 a year.She owns her small home outright.Overall she is in good health and is expected to live until 85.Ted thinks he knows about finance and set up a portfolio for Jan.Ted has very invested in growth equities because as Tom saysCome onIf they hit it will hit big". He also wants Her in municipal bonds since the interest earned on them is exempt from federal income tax. Ted feelsHis mom should avoid paying any taxes to those crazies in Washington.Jan's friends have convinced her to see a financial planner.You are that planner.

a) Develop an IPS, For a typical person Jan's age. Be sure to explain why you answered the way you did. Be sure to include a financial mission statement for jan. *Note:You're just setting up the format only with reasoningsYou're not coming up with an actual portfolio for her.

b)What are some things wrong with the planHead set up for Jan.Be sure to explain why they're not appropriate for her?