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The Calculus of Retirement Income
Financial Models for Pension Annuities and Life Insurance
Buch von Moshe A. Milevsky
Sprache: Englisch

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Beschreibung
As the baby boomers approach retirement, they and their financial advisors are struggling with the question of how to manage their financial investments and portfolios to assure themselves with high probability that they will not run out of money before they run out of life. This book develops the underlying mathematical framework to combine investment with the uncertainty of mortality. The results, formulas and examples should also help retirees better manage their financial affairs, in addition the instructors teaching their material to the next generation of financial advisors.
As the baby boomers approach retirement, they and their financial advisors are struggling with the question of how to manage their financial investments and portfolios to assure themselves with high probability that they will not run out of money before they run out of life. This book develops the underlying mathematical framework to combine investment with the uncertainty of mortality. The results, formulas and examples should also help retirees better manage their financial affairs, in addition the instructors teaching their material to the next generation of financial advisors.
Über den Autor
Moshe A. Milevsky is Associate Professor of Finance at the Schulich School of Buisness at York University and the Executive Director of the IFID Centre in Toronto, Canada. He was elected as a Fellow of the Fields Institute in 2002. Professor Milevsky is co-founding editor of the Journal of Pension Economics and Finance, published by Cambridge University Press, and has published more than thirty scholarly articles in addition to three books. His popular media writing received a National Magazine Award in Canada in 2004. He has lectured widely on the topic of retirement income planning, insurance and investments in North America, South America and Europe, and is a frequent guest on North American television and radio.
Inhaltsverzeichnis
Preface; Part I. Models of Actuarial Finance: 1. Introduction and motivation; 2. Modeling the human life-cycle; 3. Models of human mortality; 4. Valuation models of deterministic interest; 5. Models of risky financial investments; 6. Models of pension life annuities; 7. Models of life insurance; 8. Models of DB vs. DC pensions; Part II. Wealth Management Applications and Implications: 9. Sustainable spending at retirement; 10. Longevity insurance revisited; Part III. Advanced Topics: 11. Options within variable annuities; 12. The utility of annuitization; 13. Book conclusions; Appendices.
Details
Erscheinungsjahr: 2006
Fachbereich: Allgemeines
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Seiten: 336
ISBN-13: 9780521842587
ISBN-10: 0521842581
Sprache: Englisch
Ausstattung / Beilage: HC gerader Rücken kaschiert
Einband: Gebunden
Autor: Milevsky, Moshe A.
Hersteller: Cambridge University Press
Maße: 235 x 157 x 23 mm
Von/Mit: Moshe A. Milevsky
Erscheinungsdatum: 01.03.2006
Gewicht: 0,64 kg
preigu-id: 102226076
Über den Autor
Moshe A. Milevsky is Associate Professor of Finance at the Schulich School of Buisness at York University and the Executive Director of the IFID Centre in Toronto, Canada. He was elected as a Fellow of the Fields Institute in 2002. Professor Milevsky is co-founding editor of the Journal of Pension Economics and Finance, published by Cambridge University Press, and has published more than thirty scholarly articles in addition to three books. His popular media writing received a National Magazine Award in Canada in 2004. He has lectured widely on the topic of retirement income planning, insurance and investments in North America, South America and Europe, and is a frequent guest on North American television and radio.
Inhaltsverzeichnis
Preface; Part I. Models of Actuarial Finance: 1. Introduction and motivation; 2. Modeling the human life-cycle; 3. Models of human mortality; 4. Valuation models of deterministic interest; 5. Models of risky financial investments; 6. Models of pension life annuities; 7. Models of life insurance; 8. Models of DB vs. DC pensions; Part II. Wealth Management Applications and Implications: 9. Sustainable spending at retirement; 10. Longevity insurance revisited; Part III. Advanced Topics: 11. Options within variable annuities; 12. The utility of annuitization; 13. Book conclusions; Appendices.
Details
Erscheinungsjahr: 2006
Fachbereich: Allgemeines
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Seiten: 336
ISBN-13: 9780521842587
ISBN-10: 0521842581
Sprache: Englisch
Ausstattung / Beilage: HC gerader Rücken kaschiert
Einband: Gebunden
Autor: Milevsky, Moshe A.
Hersteller: Cambridge University Press
Maße: 235 x 157 x 23 mm
Von/Mit: Moshe A. Milevsky
Erscheinungsdatum: 01.03.2006
Gewicht: 0,64 kg
preigu-id: 102226076
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