Retirement portfolios: theory, construction, and management
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Hoboken, NJ
Wiley
2010
|
| Series: | Wiley finance series
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references and index |
| Physical Description: | XXI, 281 S. graph. Darst. |
| ISBN: | 9780470556818 |
Staff View
MARC
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| 245 | 1 | 0 | |a Retirement portfolios |b theory, construction, and management |c Michael J. Zwecher |
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Record in the Search Index
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|---|---|
| adam_text | Titel: Retirement portfolios
Autor: Zwecher, Michael J.
Jahr: 2010
Contents
Preface xB
Arduiuwtetigments xxi
rranng me itumri
CHAPTER1
Portfefto Focus and Stage of Life 3
A Balanced Portfolio Approach May Not Last
Through Retirement 4
Retirement Saving versus Retirement Income: An Illustration 10
Products versus Solutions 11
Summary 12
CHAPTER Z
The lap-Down View
An Overview of Economic Models of Retirement Income 14
Reconciling Retirement Income Portfolio Construction
with Accumulation 15
The Dynamics of Risk Aversion 19
Separation between Flooring and Upside 21
Fully Funded versus Underfunded Flooring 22
Monetizing Mortality 23
Taking Market Risk 23
Risk Is Risk, Is It Not? 24
Risk, Uncertainty, and Risk Aversion 25
Summary 25
CHAPTERS
The hnpii imi el Ufestyfe Hearta 27
Amount of Flooring: A Balance Sheet View 28
Retirement Requires Outcomes, Not Just Expectations 30
VH CONTENTS
Consumption Needs 32
Yes/No Planning 33
The Window for Maintaining Lifestyle 34
The Bedrock Floor 36
The Aspirational Floor 37
The Finished Floor 38
Nominal versus Real Flooring 38
Types of Flooring 42
Choosing a Flooring Type 45
Summary 48
CHAPTER4
Monetizing Mortaity
Annuities and Longevity Insurance 48
Risk Pooling 50
Pure Longevity Insurance 50
Annuities 52
Complex Annuities 54
Credit Risk and Insurance 55
Summary 57
CHAPTER5
Hearing with Capital Markets Products 58
Government-Issued Securities 60
Creating a Floor of Strips 61
TIPS 63
Municipal Securities 65
Corporate Securities and Other Financial Products 66
Summary 67
PART TWO _ ? .....
Aaaping Portiohos tor ffetreownt neonie
CHAPTERS
71
Portfolio Sleeves for Retirement Income 72
Portfolio Intuition 76
Basic Portfolio Constructs 77
General Accumulation Plans for Retirement Income 81
Taxes and Retirement Income Portfolios 81
Summary 85
Contents_________________________________________________________________IX
CHAPTER 7
Creating ABocatkms for Constructing Practical Portfoios
by Age and Lifestyle Needs 87
Flooring Allocations 88
Longevity Allocations 93
Precautionary Allocations 96
Discretionary Equity Allocations: Assets with Risk 97
Summary of Allocations 99
Summary 103
PJIEMBJi
Managing Portfoios foe Retirement tacane
CHAPTER8
Rebalancing Retirement hceme Portfoios 107
Rebalancing the Discretionary Wealth Subportfolio 108
Rebalancing the Functional Components 109
Raising the Floor 111
Summary 112
CHAPTER9
Active PJsk Management for Retirement
kcome Portfoios 115
Static Example 118
The View from the Capital Markets Line 121
Risk Management and Expected Returns 122
Simple Rules: For Passive and Active
Risk Management 122
An Inelegant but Simple Plan 124
High-Water Mark Flooring 125
The Cushion 126
Risk Rules: Periodic Rebalancing 128
Risk Rules: More Active Rebalancing 130
CPPI and Volatility 132
Taxation and Active Management 133
Locking in Flooring: Long End versus Short End 134
A Quick Note on Usability, Scalability, and Approaches
Other Than Liability Matching 135
Playing with Fire in a Retirement Income Portfolio 135
Summary 138
X_____________________________________________________________________CONTENTS
PABTHMJR
Making ft Happen
CMPTBMO
The Transition Phase 141
What the Transition Is About 142
The Order of Transition 144
A Difficult Transition 146
When to Transition 148
Making the Transition Seamless 150
Creating a Business Model that Includes
a Natural Transition 152
Sudden Transitions 153
Summary 153
OUPTFJI11
Putting Together the Proposal 155
Laying Out Client s Assets to Show Current Status 156
Minimally Invasive Surgery: Reconfiguration Proposal 158
Lifestyle and Flooring Types 160
Accumulation Plan Types 160
Allocations 161
Passive Versus Active Risk Management 163
Summary 165
CMPTBM2
Market segmentation is/
Segmentation for Traditional Portfolios 168
Segmentation for Retirement Income Portfolios 169
Summary 175
OUPTBM3
Pi BuntU a* faaaajta Pertfehes 177
Overview of Products Offered 177
Managing Expectations around Outcomes 184
Example Portfolios 185
Summary 202
OUPTBI14
Prepay rOTOart far a Reth-taettlM^Peru^ 203
Know Your Resources 207
Lifestyle and Life Cycle 210
Contents________________________________________________________________Xj
Risks to Your Retirement Lifestyle 212
Lifestyle and Flooring Types 214
What the Adviser Needs from the Client 221
Summary 221
CHM THM5
Salvage Operations, mistakes, and Fanacies 228
Mistakes and Fallacies 224
How to Dig Out of a Hole 228
Summary 233
APPWMXA
Nstory of Theoretical Developments in Ufe-Cyde Planning 235
The Model 235
Rising Lifestyles and Habit Formation 238
Empirical Studies of Life-Cycle Behavior 241
APPBHXB
How Professionals Can Maximize the Usefulness of tMs Book 243
Transaction-Oriented Salespeople 243
Asset Gatherers 245
Insurance Planners 246
Financial Planners 247
Portfolio Managers 248
Notes 251
Glossary 285
271
275
|
| any_adam_object | 1 |
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| dewey-ones | 332 - Financial economics |
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| dewey-search | 332.024/014 |
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| discipline | Wirtschaftswissenschaften |
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| isbn | 9780470556818 |
| language | English |
| lccn | 2009031706 |
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| spelling | Zwecher, Michael J. 1957- Verfasser (DE-588)140625100 aut Retirement portfolios theory, construction, and management Michael J. Zwecher Hoboken, NJ Wiley 2010 XXI, 281 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Wiley finance series Includes bibliographical references and index Retirement income Planning Portfolio management Portfolio Selection (DE-588)4046834-3 gnd rswk-swf Altersversorgung (DE-588)4001479-4 gnd rswk-swf Portfoliomanagement (DE-588)4115601-8 gnd rswk-swf Ruhestand (DE-588)4050918-7 gnd rswk-swf Portfolio Selection (DE-588)4046834-3 s Altersversorgung (DE-588)4001479-4 s DE-604 Portfoliomanagement (DE-588)4115601-8 s Ruhestand (DE-588)4050918-7 s 1\p DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=019011358&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Zwecher, Michael J. 1957- Retirement portfolios theory, construction, and management Retirement income Planning Portfolio management Portfolio Selection (DE-588)4046834-3 gnd Altersversorgung (DE-588)4001479-4 gnd Portfoliomanagement (DE-588)4115601-8 gnd Ruhestand (DE-588)4050918-7 gnd |
| subject_GND | (DE-588)4046834-3 (DE-588)4001479-4 (DE-588)4115601-8 (DE-588)4050918-7 |
| title | Retirement portfolios theory, construction, and management |
| title_auth | Retirement portfolios theory, construction, and management |
| title_exact_search | Retirement portfolios theory, construction, and management |
| title_full | Retirement portfolios theory, construction, and management Michael J. Zwecher |
| title_fullStr | Retirement portfolios theory, construction, and management Michael J. Zwecher |
| title_full_unstemmed | Retirement portfolios theory, construction, and management Michael J. Zwecher |
| title_short | Retirement portfolios |
| title_sort | retirement portfolios theory construction and management |
| title_sub | theory, construction, and management |
| topic | Retirement income Planning Portfolio management Portfolio Selection (DE-588)4046834-3 gnd Altersversorgung (DE-588)4001479-4 gnd Portfoliomanagement (DE-588)4115601-8 gnd Ruhestand (DE-588)4050918-7 gnd |
| topic_facet | Retirement income Planning Portfolio management Portfolio Selection Altersversorgung Portfoliomanagement Ruhestand |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=019011358&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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