The Calculus of Retirement Income

- Financial Models for Pension Annuities and Life Insurance

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The Calculus of Retirement Income
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Format:
Bog, hardback
Udgivelsesdato:
13-03-2006
Sprog:
Engelsk
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This 2006 book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real-world problem of generating sustainable retirement income towards the end of the human life-cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious framework. The underlying technology and terminology of the book are based on continuous-time financial economics by merging analytic laws of mortality with the dynamics of equity markets and interest rates. Nonetheless, the book requires a minimal background in mathematics and emphasizes applications and examples more than proofs and theorems. It can serve as an ideal textbook for an applied course on wealth management and retirement planning in addition to being a reference for quantitatively-inclined financial planners.

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Udgivelsesdato:
13-03-2006
ISBN13:
9780521842587
Vægt:
570 g
Dybde:
12 mm
Bredde:
160 mm
Højde:
232 mm
Format:
Hardback
Forfattere
Bibliotekernes beskrivelse This 2006 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. 93 Tables, unspecified

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