TY - JOUR T1 - Portfolios for Investors Who Want to Reach Their<br/>Goals While Staying on the Mean–Variance Efficient Frontier JF - The Journal of Wealth Management SP - 25 LP - 31 DO - 10.3905/jwm.2011.14.2.025 VL - 14 IS - 2 AU - Sanjiv Das AU - Harry Markowitz AU - Jonathan Scheid AU - Meir Statman Y1 - 2011/07/31 UR - https://pm-research.com/content/14/2/25.abstract N2 - How can investors construct portfolios that help them reach their goals, such as a comfortable retirement for themselves, a bequest for their children, and college education for their grandchildren? Are such portfolios on the mean–variance efficient frontier? How can advisors discuss investment risk with clients whose risk tolerance varies by goal—low for retirement and higher for bequests? These are the questions answered in this article. The authors show that advisors can help clients construct portfolios that take clients to their goals while also leaving them on the mean–variance efficient frontier.TOPICS: Portfolio construction, performance measurement ER -