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- Product code: 267231
- ISBN: 0137127375,
ISBN13: 9780137127375,
300 pages, hardback
Published by Pearson Education (US) on 2008
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Description of Are You a Stock or a Bond? |
In this new era of disappearing company pensions and financial insecurity, the author introduces a new framework for financial planning over the entire lifecycle that enables people to create their own personalized pension plans. To maximize your investments and protect yourself and your family, and you must think of yourself as a small company, with assets, liabilities and actual shareholder equity. The composition of your investments should reflect the nature and security of your career or job--your "human capital". If YOU Inc. are a "stock", make sure your savings are tilted towards "bonds". If your job is more secure and YOU Inc. are a "bond", then make sure your retirement savings are tilted towards stocks. Factoring in your unique "human capital" adds a critical dimension necessary for sound and effective investing.
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Contents of Are You a Stock or a Bond? |
Preface: How Much Risk Are You Really Handling?
Introduction: Pensions are Dying; Long Live Pensions
Chapter 1: You, Inc.
Chapter 2: Insurance Is a Hedge for Human Capital
Chapter 3: Diversification over Space and Time
Chapter 4: Debt Can Be Good at All Ages
Chapter 5: Personal Inflation and the Retirement Cost of Living
Chapter 6: Sequence of Investment Returns
Chapter 7: Longevity Is a Blessing and a Risk
Chapter 8: Spending Your Retirement in Monte Carlo
Chapter 9: Annuities Are Personal Pensions
Chapter 10: Product Allocation Is the New Asset Allocation
Chapter 11: Conclusion: Plan for Managing Your Retirement Risks
Appendix: Additional References and Notes
Index
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About Moshe A. Milevsky |
Moshe A. Milevsky, Ph.D., lectures at the Schulich School of Business, where he earned his Ph.D., and has been nominated for teaching awards. He is Executive Director of the IFID Centre, a nonprofit corporation that is dedicated to research at the intersection of wealth management, personal finance, and insurance. Dr. Milevsky has published five books and over fifty peer-reviewed articles on pensions, insurance, investments, derivative pricing, and retirement income planning. He co-founded the Journal of Pension Economics and Finance, authored The Calculus of Retirement Income, and has delivered seminars at the London School of Economics, The Wharton School of the University of Pennsylvania, University of Michigan, and universities throughout Europe, South America, and Asia. Dr. Milevsky recently received a Graham and Dodd scroll award from the CFA Institute in recognition of his research on comprehensive life cycle investing, and in 2006 he was co-awarded a U.S. patent for inventing techniques designed to optimize asset allocation during retirement through the use of life annuities.
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