Phil Jenkins, age 65 but not yet retired, is a self made businessman with total wealth of $5m. He gives $2m to his daughters, leaving $3m for himself and his wife’s retirement which will be soon. Nothing else in the text is relevant. Q1: Choose his invesmtent policy (conservative-aggresive) based on age and wealth Age: Old (Schweser answer: he is inbetween middle age and old, but since he is in retirement soon he is *probably* old) Wealth: Significant net worth (Schweser answer: he is ‘nearly but not quite’ wealthy). I mean how on earth are we supposed to know where the line is drawn, this makes me angry. Does $3.1m count, how about $3.2m, where is the line ?!