Playing Catch-Up With Your Retirement Portfolio

Dr. Don,

I manage a small portfolio for my sister-in-law. It is currently worth about $47,000 and is mostly in an IRA account. She has Social Security, her husband's pension and owns her house. She requires about $400 a month from this portfolio. She is 70.

The equity portion of this portfolio needs to grow robustly over the next five years. We feel that the growth is required because her family has a history of living well into their 90s. The bond and cash portion will last for five years. No extraordinary expenses are expected. ...