Standard analysis of retirement strategies involves evaluating their failure rate. One of the
shortcomings of this approach is that a strategy may have a low failure rate and at the same …

Asset allocation is widely viewed as one the most important investment decisions, but there
is little consensus on how investors should make this choice. This article proposes a simple …

Motivated by the recent market turbulence triggered by the COVID‐19 pandemic and the
changing interest rate environment, we propose an improved investment strategy for …

The importance of determining how often a retirement strategy failed in the past, and how
likely it is to fail in the future, can hardly be overstated. For this reason, the failure rate has …

Portfolio “glidepaths” accommodate growth in a worker's early working life and transition to
lower risk settings as the worker nears retirement. The success of this design hinges on its …

All individuals need to determine a withdrawal policy for their retirement. This decision
needs to balance the goal of funding a desired lifestyle (and perhaps leaving a bequest) …

Retirees need to carefully balance the risk of spending too much and outliving their savings
with the risk of spending too little and lowering their lifestyle unnecessarily. The two main …

On account of the current low interest rate phase, which is most likely to continue in the
coming years, the average yields to be achieved in the bond, time deposit and savings …

Planning for retirement, particularly during the accumulation period, largely consists of
setting a target value for the retirement portfolio and implementing a policy aimed at hitting …

Financial sustainability for individuals has become more important due to the increase in life
expectancy. In personalized lifetime financial planning, human capital is critical for …