(1) Factors that affect investors' risk tolerance and income demand include investors' age or investment cycle, assets and liabilities, financial changes and trends, net wealth, risk preference and other factors.

(2) The capital market environment factors that affect the risk-return status of various assets and their correlation, including international economic situation, domestic economic situation and development trend, inflation, interest rate changes, economic cycle fluctuations, supervision, etc.

(3) The matching between the liquidity characteristics of assets and the liquidity requirements of investors.

(4) investment period. When investors choose between assets with different maturities (such as bonds), they need to consider the arrangement of investment duration.

(5) Tax considerations. Tax results are of great significance to investment decision-making, because the performance of any investment strategy is evaluated by its after-tax income.