Calculus of Retirement Income
-25 %

Calculus of Retirement Income

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ISBN-13:
9780521842587
Einband:
Buch
Erscheinungsdatum:
01.03.2006
Seiten:
0
Autor:
Moshe A. Milevsky
Gewicht:
570 g
Format:
228x152x12 mm
Sprache:
Englisch
Beschreibung:

Shows financial planners how to plan pension annuities and life insurance.
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.
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.