CFAI Books. Reading 14; Question 12

Please, CFAI says the Smiths annual living costs are being met. However, is it really being met? Annual living costs - 150,000 Annual income - 65, 000 Earlier, (under Return Obj) CFA said the family portfolio should have returns that equal Living cost minus Income and that return should grow with at least the inflation of 3%. However, this value of return is not given… There is no information that the return on the portfolio actually covers that gap. So, am i missing something or what exactly…


He might have received money from his grandfather to live his life that lavishly -exceeding his income.

what is the name of the familY?