This paper develops a dynamic model of retirement withdrawal planning that allows retirees and financial planners to improve the probability of retirement portfolio success while simultaneously increasing the average withdrawal rate. The key elements of the model are periodic adjustments of...

This paper summarizes scientific thought on the likelihood of Climate Change and explores potential implications for retirement planning. The thoughts of several authors are combined to place Climate Change risk within the context of Black Swans and Deep Risk and describe implications for...

This research explores the costs and benefits of modifying life expectancy (planning horizon) within a multiple-factor withdrawal management strategy. Stochastic optimization of Monte Carlo simulation analysis using data from 1926-2009 is employed within a seven-factor control limit model. This...

• This paper broadens the perspective on sustainable distributions by expanding into three dimensions, introducing transitory states as well as all those states existing simultaneously.• Withdrawal rates alone do not tell a complete sustainable distribution story; withdrawal rates are time...

This paper revisits the soybean crush spread arbitrage work of Simon (1999) by studying a longer time period, wider variety of entry and exit limits, and the risk-return relationship between entry and exit limits. The lengths of winning and losing trades are found to differ systematically, with...

Purpose – The purpose of this paper is to: discuss how reporting under a human resource liability paradigm fits into the traditional accounting framework of contingent liabilities; examine the financial effects of such reporting on market valuation and internal planning; and explore...

This paper examines the importance of the volatility of investment returns and the uncertainty of remaining lifespan in retirement planning. These factors cause the unnecessary sacrifice of higher withdrawals to reduce the probability of exhausting the retirement portfolio before death...

The authors develop an Age-Based Three Dimensional Distribution Model that illustrates a retiree transition from early retirement into later retirement, including superannuated years for the long-lived who continue to survive. The model for this concept development simultaneously: 1) Establishes...