At Merrill Lynch, we look at a whole host of aspects of what how to answer to that question. One factor being an understanding the individual or the peoples' goals and needs and life. Common questions that you would want to know is what are the time horizons, how long is the income source likely to be needed. Obviously, how much, what are the needs or what the goals are and how much we need to spend. The liquidity needs meaning "I know I have a wedding to pay for or... some certain dollar amount that needs to be pulled out with some certainty." You also work a risk tolerance, what kind of fluctuation or volatility can the client withstand and that is important because you want to make sure that you invest the money in a certain way that you don't disrupt that overall portfolio or process because of some unforeseen event that occurs and maybe shakes the market and shakes your the price of your portfolio and you change your whole plan because of that event and then ruin your retirement opportunities or your income opportunities that you expect in retirement. So, yes an allocation really depends on a lot of facts.
