Making ends meet: Target date investment funds and retirement wealth creation
Tóm tắt
Từ khóa
Tài liệu tham khảo
Munnell, A. and Sundén, A. (2006) ‘401(k) Plans Are Still Coming Up Short’, Center for Retirement Research, Boston College, Boston, MA.
Poterba, J., Rauh, J., Venti, S. and Wise, D. (2006) ‘Life-cycle asset allocation strategies and the distribution of 401(k) retirement wealth’, NBER Working paper No. 11974, National Bureau of Economic Research, Cambridge, MA.
FRC (2007) ‘Lifecycle funds quarterly report’, Financial Research Corporation. Boston, MA. 4(3).
ICI (2007) ‘The US retirement market, 2006’, ICI Research Fundamentals. Washington DC: Investment Company Institute. 16(3).
Vanguard Center for Retirement Research (2004) ‘How America Saves: A Report on Vanguard Defined Contribution Plans’, The Vanguard Group, Washington, DC.
Shiller, R. J. (2005) ‘Life-cycle portfolios as government policy’, The Economists’ Voice, Vol. 2 (1), Article 14, pp. 1–8.
Viceira, L. M. (2007) ‘Life-cycle investment funds’, Available at SSRN: http://ssrn.com/abstract=988362 .
Ibbotson (2008) ‘Lifetime asset allocations: Methodologies for target maturity funds’, Ibbotson Associates Research Report, Chicago.
Bodie, Z., Merton, R. C. and Samuelson, W. F. (1992) ‘Labor supply flexibility and portfolio choice in a life-cycle model’, Journal of Economic Dynamics and Control, Vol. 16, pp. 427–449.
Schooley, D. K. and Worden, D. D. (1999) ‘Investors’ asset allocations versus life-cycle funds’, Financial Analysts Journal, Vol. 55, No. 5, pp. 37–43.
Jagannathan, R. and Kocherlakota, N. R. (1996) ‘Why should older people invest less in stocks than younger people?’ Federal Reserve Bank of Minnesota Quarterly Review, Vol. 20, No. 3, pp. 11–23.
Bodie, Z. and Crane, D. B. (1997) ‘Personal investing: Advice, theory and evidence’, Financial Analysts Journal, Vol. 53, No. 6, pp. 13–23.
Booth, L. (2004) ‘Formulating retirement targets and the impact of time horizon on asset allocation’, Financial Services Review, Vol. 13, No. 1, pp. 1–17.
Lewis, N. (2008) ‘Assessing shortfall risk in life-cycle investment funds’, Journal of Wealth Management, Summer, pp. 43–50.
Byrne, A., Blake, D., Cairns, A. and Dowd, K. (2006) ‘There's no time like the present: The cost of delaying retirement saving’, Financial Services Review, Vol. 15, pp. 213–231.
Lewis, N., Okunev, J. and White, D. (2007) ‘Using a value at risk approach to enhance tactical asset allocation’, Journal of Investing, Winter, pp. 17–26.
Lewis, N. (Forthcoming) ‘Using value at risk to enhance asset allocation in life-cycle investment funds’, Journal of Investing.
Benzoni, L., Collin-Dufresne, P. and Goldstein, R. S. (2005) ‘Portfolio choice over the life-cycle in the presence of “trickle down” labor income’, NBER Working paper No. 11247, National Bureau of Economic Research, Cambridge, MA.
Ahlgrim, K. C., D’Arcy, S. P. and Gorvett, R. W. (2005) ‘Modeling financial scenarios: A framework for the actuarial profession’, Proceedings of the Casualty Actuarial Society Casualty Actuarial Society, Arlington, Virginia.
Price of annuity taken from Principal Financial Group quote mid-November 2007.
Helman, R. and Paladino, V. (2004) ‘Will Americans ever become savers?’, EBRI Issue Brief No. 268, April 2004, p. 9.