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Author: National Research Council Publisher: National Academies Press ISBN: 0309261961 Category : Social Science Languages : en Pages : 230
Book Description
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Author: National Research Council Publisher: National Academies Press ISBN: 0309261961 Category : Social Science Languages : en Pages : 230
Book Description
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Author: Annamaria Olivieri Publisher: Springer ISBN: 3319213776 Category : Mathematics Languages : en Pages : 521
Book Description
This second edition expands the first chapters, which focus on the approach to risk management issues discussed in the first edition, to offer readers a better understanding of the risk management process and the relevant quantitative phases. In the following chapters the book examines life insurance, non-life insurance and pension plans, presenting the technical and financial aspects of risk transfers and insurance without the use of complex mathematical tools. The book is written in a comprehensible style making it easily accessible to advanced undergraduate and graduate students in Economics, Business and Finance, as well as undergraduate students in Mathematics who intend starting on an actuarial qualification path. With the systematic inclusion of practical topics, professionals will find this text useful when working in insurance and pension related areas, where investments, risk analysis and financial reporting play a major role.
Author: Harold Evensky Publisher: John Wiley & Sons ISBN: 047088505X Category : Business & Economics Languages : en Pages : 500
Book Description
Clients nearing retirement have some significant challenges to face. And so do their advisers. They can expect to live far longer after they retire. And the problems they expect their advisers to solve are far more complex. The traditional sources of retirement income may be shriveling, but boomers don't intend to downsize their plans. Instead, they're redefining what it means to be retired—as well as what they require of financial advisers. Planners who aren't prepared will be left behind. Those who are will step up to some lucrative and challenging work. To help get the work done, Harold Evensky and Deena Katz—both veteran problem solvers—have tapped the talents of a range of experts whose breakthrough thinking offers solutions to even the thorniest issues in retirement-income planning: Sustainable withdrawals Longevity risk Eliminating luck as a factor in planning Immediate annuities, reverse mortgages, and viatical and life settlements Strategies for increasing retirement cash flow In Retirement Income Redesigned, the most-respected names in the industry discuss these issues and a range of others.
Author: Jane Bryant Quinn Publisher: Simon & Schuster ISBN: 1982115831 Category : Business & Economics Languages : en Pages : 432
Book Description
NOW COMPLETELY UPDATED to reflect the changes in tax legislation, health insurance, and the new investment realities. In this “highly valuable resource” (Publishers Weekly, starred review) Quinn “provides simple, straightforward” (The New York Times) solutions to the universal retirement dilemma—how to make your limited savings last for life—covering mortgages, social security, income investing, annuities, and more! Will you run out of money in your older age? That’s the biggest worry for people newly retired or planning to retire. Fortunately, you don’t have to plan in the dark. Jane Bryant Quinn tells you how to squeeze a higher income from all your assets—including your social security account (get every dollar you’re entitled to), a pension (discover whether a lump sum or a lifetime monthly income will pay you more), your home equity (sell, rent, or take a reverse mortgage?), savings (how to use them safely to raise your monthly income), retirement accounts (invest the money for growth in ways that let you sleep at night), and—critically—how much of your savings you can afford to spend every year without running out. There are easy ways to figure all this out. Who knew? Quinn also shows you how to evaluate your real risks. If you stick with super-safe investment choices, your money might not last and your lifestyle might erode. The same might be true if you rely on traditional income investments. Quinn rethinks the meaning of “income investing,” by combining reliable cash flow during the early years of your retirement with low-risk growth investments, to provide extra money for your later years. Odds are, you’ll live longer than you might imagine, meaning that your savings will stretch for many more years than you might have planned for. With the help of this book, you can turn those retirement funds into a “homemade” paycheck that will last for life.
Author: Jeffrey R. Brown Publisher: MIT Press ISBN: 9780262261692 Category : Business & Economics Languages : en Pages : 248
Book Description
Annuity insurance products help protect retirees against outliving their incomes. Dramatic advances in life expectancy mean that today's retirees must plan on living into their eighties, their nineties, and even beyond. Longer life expectancies are the symbol of a prosperous society, but this progress also means that some retirees will need to plan conservatively and cut back substantially on their living standards or risk living so long that they exhaust their resources. This book examines the role that life annuities can play in helping people protect themselves against such outcomes. A life annuity is an insurance product that pays out a periodic amount for as long as the annuitant is alive, in exchange for a premium. The book begins with a history of life annuity markets during the twentieth century in the United States and elsewhere. It then explores recent trends in annuity pricing and money's worth, as well as the economic value generated for purchasers of these products. The book explains the potential importance of inflation-protected annuities and stock-market-linked variable annuities in providing more complete retirement security. The concluding chapters examine life annuities in various institutional settings and the tax treatment of annuity products.
Author: Jacques Lussier Publisher: CFA Institute Research Foundation ISBN: 1944960821 Category : Business & Economics Languages : en Pages : 186
Book Description
Financial science, both quantitative and behavioral, can be used to improve the retirement planning effort. Despite a vast amount of literature on the topic, Secure Retirement recognizes the need to validate this knowledge and develop a comprehensive framework for investors.
Author: Bruno Remillard Publisher: CRC Press ISBN: 1439856958 Category : Business & Economics Languages : en Pages : 490
Book Description
While many financial engineering books are available, the statistical aspects behind the implementation of stochastic models used in the field are often overlooked or restricted to a few well-known cases. Statistical Methods for Financial Engineering guides current and future practitioners on implementing the most useful stochastic models used in f
Author: Joseph F. Coughlin Publisher: PublicAffairs ISBN: 1610396650 Category : Business & Economics Languages : en Pages : 330
Book Description
Oldness: a social construct at odds with reality that constrains how we live after middle age and stifles business thinking on how to best serve a group of consumers, workers, and innovators that is growing larger and wealthier with every passing day. Over the past two decades, Joseph F. Coughlin has been busting myths about aging with groundbreaking multidisciplinary research into what older people actually want -- not what conventional wisdom suggests they need. In The Longevity Economy, Coughlin provides the framing and insight business leaders need to serve the growing older market: a vast, diverse group of consumers representing every possible level of health and wealth, worth about $8 trillion in the United States alone and climbing. Coughlin provides deep insight into a population that consistently defies expectations: people who, through their continued personal and professional ambition, desire for experience, and quest for self-actualization, are building a striking, unheralded vision of longer life that very few in business fully understand. His focus on women -- they outnumber men, control household spending and finances, and are leading the charge toward tomorrow's creative new narrative of later life -- is especially illuminating. Coughlin pinpoints the gap between myth and reality and then shows businesses how to bridge it. As the demographics of global aging transform and accelerate, it is now critical to build a new understanding of the shifting physiological, cognitive, social, family, and psychological realities of the longevity economy.
Author: Ernst & Young LLP Publisher: John Wiley & Sons ISBN: 9780471697459 Category : Business & Economics Languages : en Pages : 544
Book Description
If you want to take control of your financial future and unlock thedoors to financial success, you must have a plan that will allowyou to find good investments, reduce taxes, beat inflation, andproperly manage money. Whether you're new to financial planning or a seasoned veteran,this updated edition of Ernst & Young's Personal FinancialPlanning Guide provides valuable information and techniques you canuse to create and implement a consistent personalized financialplan. It also takes into consideration the new tax rules thataffect home ownership, saving for college, estate planning, andmany other aspects of your financial life. Filled with in-depth insight and financial planning advice, thisunique guide can help you: * Set goals * Build wealth * Manage your finances * Protect your assets * Plan your estate and investments It will also show you how to maintain a financial plan inconjunction with life events such as: * Getting married * Raising a family * Starting your own business * Aging parents * Planning for retirement Financial planning is a never-ending process, and with Ernst &Young's Personal Financial Planning Guide, you'll learn how totailor a plan to help you improve all aspects of your financiallife.
Author: Keith P. Ambachtsheer Publisher: John Wiley & Sons ISBN: 1118160657 Category : Business & Economics Languages : en Pages : 252
Book Description
Praise for Pension Revolution "When Keith Ambachtsheer puts his keen mind to work on a problem, watch out! Here he exposes today's fragile arrangements for the most serious social dilemma of our times--financing retirement. Then he provides a compelling and powerful set of solutions. His writings are essential reading for all who care about the future of American living standards." --Peter Bernstein, founder and President, Peter L. Bernstein, Inc., and author of Capital Ideas and Against the Gods "This book describes one of the most ingenious inventions in the history of mankind: pension funds offering credible promises about old-age income. It reads like a thriller: how can well-governed pension funds be created in an imperfect world in which mortals wrestle with foibles and moral shortcomings? One of the world's leading experts on pensions searches for the answer--and finds it." --Lans Bovenberg, Scientific Director, Network for Studies on Pensions, Aging, and Retirement, Tilburg University, The Netherlands "Pension Revolution exposes the inadequacies of current pension systems and persuasively makes the case for the fundamental changes that are needed. It is essential reading for both the pension industry and policymakers." --Elizabeth Bryan, Chair, Investment Committee, Unisuper Management PM Ltd, Australia "Most analyses of complicated issues deal with complexity by simplifying or only looking at one piece-part, and, in doing so, provide limited value. In stark contrast, Keith Ambachtsheer boldly wades into the complexity in Pension Revolution to come up with a valuable integrative solution. He is a most welcome revolutionary!" --Roger Martin, Dean, Joseph L. Rotman School of Management, University of Toronto, Canada "We have known Keith for over ten years, and consistently over that time, he has constructively and comprehensively challenged conventional wisdom. He has done this so effectively that many of his initial thoughts have now become universally accepted norms. Such is his energy however that he continues to push the boundaries of pension and investment thinking." --Peter Moon, Chief Investment Officer, Universities Superannuation Scheme Ltd, UK "Pension Revolution not only explains the shortcomings of the existing pension system and the underlying design features that have resulted in the current pension upheaval. It also offers thoughtful and creative suggestions for prospective pension design. A must-read for anyone interested in the future of retirement finance." --James Poterba, Professor of Economics, Massachusetts Institute of Technology and a member of the TIAA-CREF Board of Trustees
Author: National Research Council
Author: National Research Council
Author: Annamaria Olivieri
Author: Harold Evensky
Author: Jane Bryant Quinn
Author: Jeffrey R. Brown
Author: Jacques Lussier
Author: Bruno Remillard
Author: Joseph F. Coughlin
Author: Ernst & Young LLP
Author: Keith P. Ambachtsheer