Starting at age 25, you plan on investing $500 at the end of each month in a portfolio that has an expected real return of 5.00%. How much do you anticipate having at age 50 (in 25 years)?

How many bullets below are correct with respect to heuristics in the realm of financial advice?

• In the financial adviser-client relationship, one challenge lies in delivering good advice that is accepted by the client.
• Recommendations must pass through the wealth of emotions, biases and heuristics that the client possesses.
• There is no benefit to the adviser to have a general understanding of the cognitive biases that are prevalent in the realm of financial decision-making.