O o You are a manager at a bank, and you need to write a memo to all of the investment officers who work on the floor. According to feedback from surveys, your customers lack confidence in advice they've received about saving for retirement. Specifically, they are not confident about advice they've received pertaining to market risk and longevity risk. In your memo, you need to explicitly follow all five (5) reasoning steps: Identify the issue Provide an example analysis (Show Math) for a fictitious client who is retiring Compare taking annual distributions from a portfolio of securities (e.g. $1,250,000) invested at a modest yield (e.g. 6.5%) versus a high yield (e.g. 12%) Be sure your example also demonstrates the need to make life expectancy estimates, which consider longevity risk Discuss the implications of your analysis for your example client, such as: What is implied when your client invests at a high expected yield (e.g. 13.75%)? What is the risk of using a client's life expectancy (e.g. twenty-three years) as the expected number of annual payments they'll receive during retirement? Etc. Recommend a solution for your example client Support your solution O o O O Note: The purpose of your memo is to furnish your loan officers with an example that will help them give clear advice to clients. O o You are a manager at a bank, and you need to write a memo to all of the investment officers who work on the floor. According to feedback from surveys, your customers lack confidence in advice they've received about saving for retirement. Specifically, they are not confident about advice they've received pertaining to market risk and longevity risk. In your memo, you need to explicitly follow all five (5) reasoning steps: Identify the issue Provide an example analysis (Show Math) for a fictitious client who is retiring Compare taking annual distributions from a portfolio of securities (e.g. $1,250,000) invested at a modest yield (e.g. 6.5%) versus a high yield (e.g. 12%) Be sure your example also demonstrates the need to make life expectancy estimates, which consider longevity risk Discuss the implications of your analysis for your example client, such as: What is implied when your client invests at a high expected yield (e.g. 13.75%)? What is the risk of using a client's life expectancy (e.g. twenty-three years) as the expected number of annual payments they'll receive during retirement? Etc. Recommend a solution for your example client Support your solution O o O O Note: The purpose of your memo is to furnish your loan officers with an example that will help them give clear advice to clients