Money in Motion : Dynamic Portfolio Choice in Retirement

  • Wolfram J. Horneff, Raimond H. Maurer, +1 author Michael Z. Stamos
  • Published 2007
Retirees confront the difficult problem of how to manage their money in retirement so as to not outlive their funds while continuing to invest in capital markets. We posit a dynamic utility maximizer who makes both asset location and allocation decisions when managing her retirement financial wealth and annuities, and we prove that she can benefit from both… CONTINUE READING