Margaret turned $40$ recently and is thinking more and more about retirement. She has one child in university now and the other two will finish high$-$school this spring. Margret has always put the needs of her family ahead of all other considerations and as a result, has only a modest amount of savings to support her in retirement. A friend recommended that she speak to a financial advisor about ways to kickstart her retirement saving programme. She contacted Roger, a financial planning professional, for an assessment of her situation. Roger notes that Margret has $$20,000$ in her chequing account, $$16,000$ in an RRSP and $$1,500$ in a TFSA. Over the past few years, Margret has managed to save approximately $$4,000$ annually, divided among these accounts.

Required

Choose the most appropriate option from the ones below;

Question $1$ options:

Roger should immediately secure the right investment in both the TFSA and RRSP$.$ Possible options include defensive stocks because of the recessionary expectations within the Canadian economy, bonds with yield above the current inflationary rate so as to protect the purchasing power of Margaret's money.

Roger should withdraw $$15000$ from the chequing account and put it in the TFSA and within the TFSA invest in proven value stocks which has the potential to grow to become winners in the future. In addition the $$1500$ in the TFSA can be invested in penny stocks with the potential to grow significantly in the future.

Rogers should draw an investment plan and present it to Margaret for approval before execution

Roger should ask further question that will enable him to determine the exact investment objective of Margaret and consequently determine the IPS for Margaret's investment.