An investor is nearing retirement and holds 90% of his investment portfolio in stock and 10% in bonds and projects that he will need additional monthly income. The investor's registered representative may suggest which of the following strategies to help the investor achieve their goals?

Dollar-cost averaging is an investment strategy that involves regularly investing a fixed amount of money, regardless of market conditions. While it can help mitigate the effects of volatility over time, it does not directly address the investor's immediate need for additional monthly income as they near retirement, making it less suitable in this context.

Hedging is a strategy used to protect investments from potential losses by taking an offsetting position in a related asset. While it can reduce risk, it may not provide the necessary income the investor requires as they transition into retirement. Therefore, it is not the most effective approach for addressing the investor's immediate income needs.

Liquidating the portfolio involves selling off the investments to convert them into cash. This strategy could provide immediate funds, but it would eliminate the potential for future growth and income generation from remaining investments, which is typically not advisable as one approaches retirement.