I’m putting together a retirement portfolio for several people I know. One of them is proving to be a fun intellectual exercise. Essentially, the mandate calls for me creating a ghost ship of a portfolio that, once it has set sail, will drift almost untouched for the next 30+ years when it will be gifted to the children at the end of the life expectancy of the owner. Beginning in 7 to 10 years, the owner will start taking 3% to 4% distributions to augment an otherwise secure retirement. The portfolio is to be allocated 70% to a collection of 70 to 100 blue chip stocks, 25% to high-grade bonds, and 5% to cash or cash equivalents.