为什么不是偏低的？

NO.PZ202410180200002306 问题如下 Henlopen McZhis a private wealth manager anis meeting with a new client, NescopeCree, to pla wealth management strategy. To begin this meeting, McZhseeks aitionbackgrouninformation from Cree necessary part of preparing the IPS. McZhlearns thCree is 45 years olanis marriewith three chilen (ages 8, 5, an1). Cree is currently employeattorney with annusalary of EUR300,000. Cree hseverspecific financigoals thhe wishes to achieve in the future but hno particulreturn objective for his portfolio currently valueEUR2,500,000. Because he hbeen investing for 20 years, Cree is comfortable with morate levels of market volatility. His employment provis for his current expenses, so Cree’s liquity requirements are minimal. Cree prefers to have his environmentansociconcerns reflectein his investment choices. McZhthen focuses on Cree’s financigoals. Cree plans to retire in 17 years anexpects to neeEUR200,000 per yeon inflation-austebasis to funa sireretirement lifestyle for himself anhis spouse. However, he is also concerneabout how increasing mecexpenses might affehis portfolio’s ability to funtheir retirement. a potentisolution to this concern, Cree hopes to purchase apartment builng within the next three years anuse the rentincome from this investment property to help funmecexpenses ring retirement. Cree wants to fununiversity expenses for his three chilen, with the first payment starting in 10 years ancontinuing for 12–15 years. Cree’s wife enjoys nating to philanthropic causes. She currently nates EUR10,000 per year, but the time Cree retires, she hopes to increase this amount to EUR30,000 per year. Cree collects antique furniture anbuets EUR15,000 per yefor aitions to his collection. He mentions ththis year’s antique purchase will his next large expense ancurrently hthe highest priority of all his goals. McZhcontinues the scussion with Cree in orr to evaluate his gree of risk tolerance. Cree consirs retirement a long-term goanis willing to enre a 10% op in expecteretirement spenng. However, he is very concernewith having sufficient fun to cover mecexpenses anviews purchasing investment property a sourof stable income to cover these expenses, so it is very important to him to purchase the builng termine Cree’s gree of risk toleran(lower versus higher) with respeto his retirement goal. Justify your response. Retirement goal: Higher risk tolerance. Retirement is a long-term gowith a very long time horizon given thhis planneretirement te is in 17 years, so this time frame reflects the beginning of his financinee for this goal. Cree is willing to incur a morate op in his planneexpenses, so he likely ha higher risk toleranfor thgoal. Cree is concerneabout paying future mecexpenses in retirement, ansinhis retirement is still 17 years in the future, he likely ha higher risk toleranwith the mecexpenses goal, especially given thhe views the planneinvestment property purchase proving a stable income stream. The risk toleranis high. He concerneabout how increasing mecexpenses might affehis portfolio’s ability to funtheir retirement. a potentisolution to this concern, Cree hopes to purchase apartment builng within the next three years anuse the rentincome from this investment property to help funmecexpenses ring retirement. ing so, the apartment builng woulgenerate rentincome to help funmecexpenses ring retirement. The ability of taking risk is high. Cree consirs retirement a long-term goanis willing to enre a 10% op in expecteretirement spenng. The willingness of taking risk is high.

NO.PZ202410180200002306 问题如下 termine Cree’s gree of risk toleran(lower versus higher) with respeto his retirement goal. Justify your response. Retirement goal: Higher risk tolerance. Retirement is a long-term gowith a very long time horizon given thhis planneretirement te is in 17 years, so this time frame reflects the beginning of his financinee for this goal. Cree is willing to incur a morate op in his planneexpenses, so he likely ha higher risk toleranfor thgoal. Cree is concerneabout paying future mecexpenses in retirement, ansinhis retirement is still 17 years in the future, he likely ha higher risk toleranwith the mecexpenses goal, especially given thhe views the planneinvestment property purchase proving a stable income stream. 老师，这道题怎么通过Willingness和Ability来回答呢？

NO.PZ202410180200002306 问题如下 termine Cree’s gree of risk toleran(lower versus higher) with respeto his retirement goal. Justify your response. Retirement goal: Higher risk tolerance. Retirement is a long-term gowith a very long time horizon given thhis planneretirement te is in 17 years, so this time frame reflects the beginning of his financinee for this goal. Cree is willing to incur a morate op in his planneexpenses, so he likely ha higher risk toleranfor thgoal. Cree is concerneabout paying future mecexpenses in retirement, ansinhis retirement is still 17 years in the future, he likely ha higher risk toleranwith the mecexpenses goal, especially given thhe views the planneinvestment property purchase proving a stable income stream. Cree’s gree of risk toleranis high with respeto his retirement goal.He caustebasis to funa sireretirement lifestyle.What's more,he is 45 years olanplans to retire in 17 years, whimeans his investment horizon is long.

NO.PZ202410180200002306 问题如下 termine Cree’s gree of risk toleran(lower versus higher) with respeto his retirement goal. Justify your response. Retirement goal: Higher risk tolerance. Retirement is a long-term gowith a very long time horizon given thhis planneretirement te is in 17 years, so this time frame reflects the beginning of his financinee for this goal. Cree is willing to incur a morate op in his planneexpenses, so he likely ha higher risk toleranfor thgoal. Cree is concerneabout paying future mecexpenses in retirement, ansinhis retirement is still 17 years in the future, he likely ha higher risk toleranwith the mecexpenses goal, especially given thhe views the planneinvestment property purchase proving a stable income stream. 请问这题对mecexpenses 的risk tolerance为什么也是above average呢？他害怕未来不能cover mecexpenses ，所以才买了房子去确保能cover。这不是表明了他很低的risk tolerance对这个mecexpenses 么？