Mary Lou is 82 and has been divorced for 40 years and never had any children. She receives Social Security and a pension that covers all of her monthly expenses and allows her to take two trips a year. She has an IRA which she takes her RMD from each year, giving away most of it to charity each year as she does not need the money and has some charitable inclinations. Which of the following is an appropriate recommendation for a planner to make to Mary Lou?

The Certified Financial Planner (CFP) certification exam tests your ability to apply financial planning skills and techniques to real-life situations. Topics on the CFP test include: financial planning process and principles, tax planning, income and retirement planning, estate planning, risk management and insurance, investment planning, tax planning, retirement savings and income planning, estate planning and psychology of financial planning. The exam is 170 questions (multiple choice, short scenario and case study) and is three hours long.