Rob is a council worker in the Hobart area. He is married, has one young child and earns a 'modest income'.

Rob is a council worker in the Hobart area. He is married, has one young child and earns a 'modest income'. Because council organizations are not notorious for their generous superannuation programs, Rob has decided he should do some investing of his own. He would like to set up a program that enables him to supplement the council's superannuation fund and at the same time provide some funds for his child's university education (which is still some 12 years away). He is not out to break investment records but feels he needs some backup in order to provide for the long-term needs of his family. Although his income is meager, Rob feels that, with careful planning, he can probably invest about $250 a quarter (and, with luck, increase this amount over time). He currently has about $15,000 in a savings account that he would be willing to use to begin this program. In view of his investment objectives, he is not interested in taking a lot of risk. Because his knowledge of investment extends to savings accounts, Commonwealth government bonds, and a little bit about managed funds, he approaches you for some investment advice. Questions:1.