easy · Certified Financial Planner General Principles
The Ruiz household reports monthly non-discretionary expenses of 9,600. They currently have 19,400 in their savings account and are considering a new investment in a growth-oriented mutual fund.
According to the Mindset Hierarchy, what should be the planner's first recommendation?
- Allocate 10,000 to a high-yield CD
- Increase liquid reserves to at least 28,800
- Conduct a risk tolerance questionnaire
- Invest the surplus cash into the growth fund
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