Book description
A straightforward guide focused on life cycle investing-namely aging,
retirement, and pensions
Life cycle investing and the implications of aging, retirement, and
pensions continues to grow in importance. With people living longer,
the relative and absolute number of retirees is growing while the
number of workers contributing to pension funds is declining.
This reliable resource develops a detailed economic analysis-at the
micro (individual) and macro (economy wide) levels-which addresses
issues regarding the economics of an aging population. Topics touched
upon include retirement and the associated health care funding of the
aged as well as social security and the asset classes that are
considered asset-liability choices over time.
- The probability of achieving adequate return patterns from
various investment strategies and asset classes is reviewed
- Shares rich insights on the aging, retirement, and pensions dilemma
- An assessment of the resources the real economy will be able to
commit to non-workers is provided
The three pillars of retirement are social security, company
pensions, and private savings. Each of these pillars is confronted
with a variety of asset-liability problems, and this book will
addresses them.
Marida Bertocchi is Professor of Portfolio Theory,
University of Bergamo. She taught numerous courses at the Universities
of Bergamo, Urbino and Milan, including basic and advanced calculus,
mathematical finance, advanced mathematical finance, stochastic
optimization, and parallel processing. Bertocchi has been Dean of the
Faculty of Economics and Business Administration and is the Director
of the Department of Mathematics, Statistics, Computer Science and
Applications, University of Bergamo. She is the author of numerous
publications on bond portfolio management, asset allocation,
quantitative finance, and economic and financial applications.
Sandra L. Schwartz received her interdisciplinary PhD from the
University of British Columbia in commerce, economics, and ecology.
She has taught business policy, business and society, and topics in
research and development and applied economics at Berkeley, UCLA,
Tsukuba, UBC, and Simon Fraser. Schwartz designed programs and courses
for the Open University of BC. She is the author of a number of books
on energy policy, Japanese management and economy, and other topics,
as well as numerous articles.
William T. Ziemba is the Alumni Professor of Financial Modeling
and Stochastic Optimization (Emeritus), University of British
Columbia. He is a well-known academic with books, research articles,
and talks on various investment topics and a columnist for Wilmott
magazine. Ziemba has visited and lectured at MIT, University of
Chicago, Berkeley, UCLA, Cambridge, LSE, Oxford, and the ICMA Centre.
He trades through William T. Ziemba Investment Management Inc. He has
consulted for various financial institutions including hedge funds,
pension, and other investment institutions.
