000 02260nam a2200361 i 4500
001 CR9781108917377
003 UkCbUP
005 20240807165456.0
006 m|||||o||d||||||||
007 cr||||||||||||
008 200417s2020||||enk o ||1 0|eng|d
020 _a9781108917377 (ebook)
020 _z9781108926621 (paperback)
040 _aUkCbUP
_beng
_erda
_cUkCbUP
050 4 _aHG179
_b.M37 2020
082 0 4 _a332.024
_223
100 1 _aMartellini, Lionel,
_eauthor.
245 1 0 _aAdvances in retirement investing /
_cLionel Martellini, Vincent Milhau.
264 1 _aCambridge :
_bCambridge University Press,
_c2020.
300 _a1 online resource (149 pages) :
_bdigital, PDF file(s).
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
490 0 _aCambridge elements. Elements in quantitative finance, 2631-8571
500 _aTitle from publisher's bibliographic system (viewed on 14 Aug 2020).
520 _aTo supplement replacement income provided by Social Security and employer­sponsored pension plans, individuals need to rely on their own saving and investment choices during accumulation. Once retired, they must also decide at which rate to spend their savings, with the usual dilemma between present and future consumption in mind. This Element explains how financial engineering and risk management techniques can help them in these complex decisions. First, it introduces 'retirement bonds', or retirement bond replicating portfolios, that provide stable and predictable replacement income during the decumulation period. Second, it describes investment strategies that combine the retirement bond with an efficient performance­seeking portfolio so as to reduce uncertainty over the future amount of income while offering upside potential. Finally, strategies using risk insurance techniques are proposed to secure minimum levels of replacement income while giving the possibility of reaching higher levels of income.
650 0 _aRetirement income
_xPlanning.
650 0 _aInvestments.
700 1 _aMilhau, Vincent,
_eauthor.
776 0 8 _iPrint version:
_z9781108926621
856 4 0 _uhttps://doi.org/10.1017/9781108917377
942 _2ddc
_cEB
999 _c10084
_d10084