Matches in SemOpenAlex for { <https://semopenalex.org/work/W3149595961> ?p ?o ?g. }
Showing items 1 to 72 of
72
with 100 items per page.
- W3149595961 abstract "We focus on a simplified problem for a risk-averse retiree seeking to maximize utility associated with annual spending and a remaining value at the end of the problem horizon when the funds are extracted from a portfolio that includes a risk-free and a risky asset. To organize discussions about this setting we utilize a novel metric which we label “Efficiency”. This measurement compares the utility derived from annual withdrawals and the final value with a benchmark based upon the maximum sustainable spending rate that could have been chosen under perfect information. We use 10,000 scenarios developed using historical data to evaluate efficiency over a family of spending rules and asset allocations. In the process, we develop insights about the structure of such rules, and asset allocation schemes. The metric used here can be useful by planners and advisors who wish to present a comparison of policies built around upon a single value. Some withdrawal strategies will outperform the benchmark for many investors. In particular, we find that strategies built around Required Minimum Distribution (RMD) rules are surprisingly efficient and also have characteristics that mitigate against some effects of market risk, longevity risk, and sequencing risk. Our findings suggest that advisors and clients will be well served by comparing policies in a consistent way and that we all should more seriously consider withdrawal strategies built around RMD rules." @default.
- W3149595961 created "2021-04-13" @default.
- W3149595961 creator A5073125980 @default.
- W3149595961 date "2020-01-01" @default.
- W3149595961 modified "2023-09-23" @default.
- W3149595961 title "Maximizing Utility of Withdrawals in Retirement and the Efficiency of Required Minimum Distributions" @default.
- W3149595961 doi "https://doi.org/10.2139/ssrn.3740927" @default.
- W3149595961 hasPublicationYear "2020" @default.
- W3149595961 type Work @default.
- W3149595961 sameAs 3149595961 @default.
- W3149595961 citedByCount "0" @default.
- W3149595961 crossrefType "journal-article" @default.
- W3149595961 hasAuthorship W3149595961A5073125980 @default.
- W3149595961 hasConcept C10138342 @default.
- W3149595961 hasConcept C106159729 @default.
- W3149595961 hasConcept C119857082 @default.
- W3149595961 hasConcept C13280743 @default.
- W3149595961 hasConcept C139819358 @default.
- W3149595961 hasConcept C144133560 @default.
- W3149595961 hasConcept C149782125 @default.
- W3149595961 hasConcept C162118730 @default.
- W3149595961 hasConcept C162324750 @default.
- W3149595961 hasConcept C175444787 @default.
- W3149595961 hasConcept C176217482 @default.
- W3149595961 hasConcept C185798385 @default.
- W3149595961 hasConcept C205649164 @default.
- W3149595961 hasConcept C205706631 @default.
- W3149595961 hasConcept C21547014 @default.
- W3149595961 hasConcept C2776291640 @default.
- W3149595961 hasConcept C2779449553 @default.
- W3149595961 hasConcept C2780821815 @default.
- W3149595961 hasConcept C38652104 @default.
- W3149595961 hasConcept C41008148 @default.
- W3149595961 hasConcept C76178495 @default.
- W3149595961 hasConceptScore W3149595961C10138342 @default.
- W3149595961 hasConceptScore W3149595961C106159729 @default.
- W3149595961 hasConceptScore W3149595961C119857082 @default.
- W3149595961 hasConceptScore W3149595961C13280743 @default.
- W3149595961 hasConceptScore W3149595961C139819358 @default.
- W3149595961 hasConceptScore W3149595961C144133560 @default.
- W3149595961 hasConceptScore W3149595961C149782125 @default.
- W3149595961 hasConceptScore W3149595961C162118730 @default.
- W3149595961 hasConceptScore W3149595961C162324750 @default.
- W3149595961 hasConceptScore W3149595961C175444787 @default.
- W3149595961 hasConceptScore W3149595961C176217482 @default.
- W3149595961 hasConceptScore W3149595961C185798385 @default.
- W3149595961 hasConceptScore W3149595961C205649164 @default.
- W3149595961 hasConceptScore W3149595961C205706631 @default.
- W3149595961 hasConceptScore W3149595961C21547014 @default.
- W3149595961 hasConceptScore W3149595961C2776291640 @default.
- W3149595961 hasConceptScore W3149595961C2779449553 @default.
- W3149595961 hasConceptScore W3149595961C2780821815 @default.
- W3149595961 hasConceptScore W3149595961C38652104 @default.
- W3149595961 hasConceptScore W3149595961C41008148 @default.
- W3149595961 hasConceptScore W3149595961C76178495 @default.
- W3149595961 hasLocation W31495959611 @default.
- W3149595961 hasOpenAccess W3149595961 @default.
- W3149595961 hasPrimaryLocation W31495959611 @default.
- W3149595961 hasRelatedWork W10507143 @default.
- W3149595961 hasRelatedWork W11334834 @default.
- W3149595961 hasRelatedWork W3639673 @default.
- W3149595961 hasRelatedWork W4479632 @default.
- W3149595961 hasRelatedWork W4978177 @default.
- W3149595961 hasRelatedWork W5996578 @default.
- W3149595961 hasRelatedWork W6153055 @default.
- W3149595961 hasRelatedWork W8045832 @default.
- W3149595961 hasRelatedWork W920257 @default.
- W3149595961 hasRelatedWork W9692920 @default.
- W3149595961 isParatext "false" @default.
- W3149595961 isRetracted "false" @default.
- W3149595961 magId "3149595961" @default.
- W3149595961 workType "article" @default.