C3 Asset Allocation

To give away all their savings

To keep money under the mattress

To maximize long-run benefits from income

To spend all their money immediately

Spend, save, invest

Construct the Portfolio, Monitor and Update

Borrow, lend, spend

Buy, hold, sell

To guide all investment decisions

To complicate the process

To confuse investors

To hide investment goals

They don't change

Due to changes in income

Due to changes in expenses

Due to changes in age and circumstances

To provide death benefits

To provide retirement benefits

To provide investment advice

To provide additional cash values

To invest in risky assets

To meet emergency needs

To buy luxury items

To donate to charity

Growth, maturity, decline

Accumulation, consolidation, spending/gifting

Childhood, adulthood, retirement

Start, middle, end

Historical events

Short-term and long-term needs

Sports events

Weather conditions