Lifetime Financial Advice: Human Capital, Asset Allocation,...

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Lifetime Financial Advice: Human...

Lifetime Financial Advice: Human Capital, Asset Allocation, and Insurance

Name: Lifetime Financial Advice: Human Capital, Asset Allocation, and Insurance
ISBN: 9780943205946

Roger G. Ibbotson, Moshe A. Milevsky, Peng Chen, and Kevin X. Zhu

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In determining asset allocation, individuals must consider more than the risk-return trade-off of financial assets. They must take into account human capital and mortality risk in the earlier life-cycle stages and longevity risk in the later life-cycle stages. The authors show how to integrate these factors into individual investors' asset allocations through a systematic joint analysis of the life insurance a family needs to protect human capital and how to allocate the family's financial capital. The proposed life-cycle model then addresses the transition from the accumulation to the saving phases-in particular, the role (if any) of immediate payout annuities.

კატეგორია:

Business & Economics - Personal Finance

წელი:

2007

გამომცემლობა:

Research Foundation of CFA Institute

ენა:

english

გვერდები:

103

ISBN 10:

0943205948