Calculus of Retirement Income by Moshe A. Milevsky
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Calculus of Retirement Income
By Moshe A. Milevsky

The Calculus of Retirement Income

Financial Models for Pension Annuities and Life Insurance

By (author) See other recent books by Moshe A. Milevsky
Format: Hardback

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Calculus of Retirement Income by Moshe A. Milevsky

Book Description

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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Book Details

ISBN: 9780521842587
ISBN-10: 0521842581
Format: Hardback
(228mm x 152mm x 19mm)
Pages: 336
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 13-Mar-2006
Country of Publication: United Kingdom

Books By Author Moshe A. Milevsky

Pensionize Your Nest Egg by Moshe A. Milevsky Pensionize Your Nest Egg, Hardback (May 2015)

Guarantee your retirement income with a DIY pension Pensionize Your Nest Egg describes how adding the new approach of "product allocation" to the tried-and-true asset allocation approach can help protect you from the risk of outliving your savings, while maximizing your income in retirement.

King William's Tontine by Moshe A. Milevsky King William's Tontine, Hardback (April 2015)

The book reviews the finance, economics, and history of tontines and argues they should be resurrected in the twenty-first century.

7 Most Important Equations for Your Retirement by Moshe A. Milevsky 7 Most Important Equations for Your Retirement, Hardback (September 2014)

The 800 years of scientific breakthroughs that will help salvage your retirement plans Physics, Chemistry, Astronomy, Biology; every field has its intellectual giants who made breakthrough discoveries that changed the course of history.

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Author Biography - Moshe A. Milevsky

Moshe A. Milevsky is Associate Professor of Finance at the Schulich School of Buisness at York University and the Executive Director of the IFID Centre in Toronto, Canada. He was elected as a Fellow of the Fields Institute in 2002. Professor Milevsky is co-founding editor of the Journal of Pension Economics and Finance, published by Cambridge University Press, and has published more than thirty scholarly articles in addition to three books. His popular media writing received a National Magazine Award in Canada in 2004. He has lectured widely on the topic of retirement income planning, insurance and investments in North America, South America and Europe, and is a frequent guest on North American television and radio.

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