Here are 3 investment options I would recommend for Client 1 based on her goals and risk tolerance:
1. A balanced portfolio of 60% stocks and 40% bonds. This provides moderate growth potential while balancing risk. Suitable index funds could include a total stock market fund, total international stock fund, and total bond market fund.
2. A target date retirement fund closest to her planned retirement year. This "set it and forget it" option automatically rebalances over time to become more conservative as retirement approaches.
3. Utilizing the transition to retirement program to slowly reduce her work hours while accessing superannuation. Combined with the balanced portfolio, this allows extra travel and activities while still saving.