02049oas 2200709 a 450 991014601260332120251105213014.01942-9193(DE-599)ZDB2015697-2(OCoLC)64584105(CONSER) 2008228658(CKB)1000000000428584(EXLCZ)99100000000042858420060309a19989999 sy aengurcnu||||||||txtrdacontentcrdamediacrrdacarrierGonzaga journal of international lawSpokane, WA Gonzaga School of Law[1997]-A practice-oriented international law journal; includes articles, essays, comments and notes from practicing attorneys, law professors, law students, business people, government officials; also includes reviews, trade information and links for the study of international law.GJILGonz. J. Int'l L.International lawPeriodicalsDroit internationalPériodiquesInternational lawfast(OCoLC)fst00976984Internationaal rechtgttPeriodicals.fastInternet resources.gtlmPeriodicals.lcgftInternational lawDroit internationalInternational law.Internationaal recht.340Gonzaga University.School of Law.ONAONAONAMUQZBLDOSDLCNLGGCOCLCQGPMOCLCFOCLCQUEJAU@VT2BWNTXQOCLCQAUDOCLCLOCLCQJOURNAL9910146012603321Gonzaga journal of international law1963175UNINA09776nam 2200661 a 450 991096878800332120251117090903.01-61324-606-4(CKB)2550000000044967(EBL)3019610(SSID)ssj0000522607(PQKBManifestationID)12222542(PQKBTitleCode)TC0000522607(PQKBWorkID)10538452(PQKB)10368402(MiAaPQ)EBC3019610(Au-PeEL)EBL3019610(CaPaEBR)ebr10671175(OCoLC)744635246(BIP)29020750(EXLCZ)99255000000004496720100422d2010 uy 0engur|n|---|||||txtccrFinancial asset management and wealth in retirement /Terrance G. Waverly, editor1st ed.New York Nova Science Publishersc20101 online resource (138 p.)Retirement issues, plans and lifestylesDescription based upon print version of record.1-60741-696-4 Includes bibliographical references and index.Intro -- CONTENTS -- PREFACE -- Chapter 1 THE TRAJECTORY OF WEALTH IN RETIREMENT -- Abstract -- 1. Introduction -- 2. Data -- 2.1. Methods -- 2.2. Characteristics of the Sample -- 2.3. The Composition and Level of Comprehensive Wealth in the HRS -- 3. A Measure of Annualized Wealth for Retirees -- 3.1. Definition of Annualized Wealth -- 3.2. Annualized Wealth and the Life Cycle Model -- 3.3. Annualized Wealth and Joint Life Annuities -- 3.4. Discussion of Annualized Wealth -- 3.5. Annualized Wealth in the HRS -- 4. Nonparametric Age Profiles of Comprehensive Wealth in the HRS -- 4.1. Methodology -- 4.2. Results -- 5. Regression-based Age Profiles of Comprehensive Wealth in the HRS -- 5.1. Methodology -- 5.2. Results -- 5.3. The Effect of Capital Gains on the Estimated Age Profiles -- 6. Predicted Age Profiles for Annualized Comprehensive Wealth from Life Cycle Model Simulations -- 6.1. Description of the Models We Consider -- 6.2. Comparison of Age Profiles from the HRS and the Model Simulations -- 7. Conclusion -- References -- Appendix 1: Present Value Calculations for the Annuity-Like Components of Comprehensive Wealth -- Defined Benefit Pension Benefits -- Social Security Benefits -- Annuities and Welfare Benefits -- Appendix 2: Detailed Description of the Life Cycle Model Simulations Reported in the Paper -- Simulation Results -- Baseline Life Cycle Model -- Effect of Uncertain Longevity -- Effect of a Bequest Function -- Effect of Differential Mortality by Wealth -- Effect of Random Medical Expenses -- End Notes -- Chapter 2 CONVERTING RETIREMENT SAVINGS INTO INCOME: ANNUITIES AND PERIODIC WITHDRAWALS -- Summary -- Introduction -- The Nature of Risk in Retirement -- Longevity Risk -- Inflation Risk -- Investment Risk -- Unexpected Events -- Annuities as a Source of Retirement Income -- The Current Market for Annuities -- Group Annuities.Individual Annuities -- Timing of Payments -- Rates of Return -- Inflation Protection Options -- Tax Treatment of Annuities -- Taxation of Income from a Fixed Annuity -- Taxation of Income from a Variable Annuity -- Tax Exclusion for Long-Term Care Insurance -- Consumer Protections and the Regulatory Environment -- State Regulation of Annuities -- Federal Regulation of Annuities -- Why Is Demand for Individual Annuities So Low? -- Complexity and Lack of Transparency in Annuity Expenses -- Lack of Flexibility in Dealing with Unexpected Expenses -- Retirement Account Withdrawal Strategies -- How Long Will a Retirement Account Last with Fixed Annual Withdrawals? -- Initial Rate of Withdrawal -- Investment Portfolio -- Probability of Assets Lasting for at Least a Specific Number of Years -- Portfolio of 65% Stocks and 35% Bonds -- Portfolio of 35% Stocks and 65% Bonds -- Estimates Incorporating Life Expectancy -- Estimates of Variable Annual Withdrawals -- Summary of Withdrawal Strategies: Balancing Risks -- Appendix A. What is "Monte Carlo" Analysis? -- Appendix B. United States Life Tables, 2004 -- Author Contact Information -- End Notes -- Chapter 3 WILL THE DEMAND FOR ASSETS FALL WHEN THE BABY BOOMERS RETIRE? -- Summary and Introduction -- What Does Simple Theory Predict about Asset Demand? -- What Does the Evidence Tell Us? -- Why Are Baby Boomers Unlikely to Draw Down Assets Rapidly in Retirement? -- Saving for Unexpected Events -- Saving for Bequests -- Unequal Distribution of Assets -- Effects of the Financial Turmoil -- Will Baby Boomers Alter the Mix of Assets in Their Portfolios? -- Could Other Factors Sustain the Demand for Assets? -- Demand from Abroad -- Demand Among Immigrants -- Effect on Asset Prices -- References -- End Notes -- INDEX -- FINANCIAL ASSET MANAGEMENT AND WEALTH IN RETIREMENT.FINANCIAL ASSET MANAGEMENT AND WEALTH IN RETIREMENT -- CONTENTS -- PREFACE -- Chapter 1 THE TRAJECTORY OF WEALTH IN RETIREMENT -- Abstract -- 1. Introduction -- 2. Data -- 2.1. Methods -- 2.2. Characteristics of the Sample -- 2.3. The Composition and Level of Comprehensive Wealth in the HRS -- 3. A Measure of Annualized Wealth for Retirees -- 3.1. Definition of Annualized Wealth -- 3.2. Annualized Wealth and the Life Cycle Model -- 3.3. Annualized Wealth and Joint Life Annuities -- 3.4. Discussion of Annualized Wealth -- 3.5. Annualized Wealth in the HRS -- 4. Nonparametric Age Profiles of Comprehensive Wealth in the HRS -- 4.1. Methodology -- 4.2. Results -- 5. Regression-based Age Profiles of Comprehensive Wealth in the HRS -- 5.1. Methodology -- 5.2. Results -- 5.3. The Effect of Capital Gains on the Estimated Age Profiles -- 6. Predicted Age Profiles for Annualized Comprehensive Wealth from Life Cycle Model Simulations -- 6.1. Description of the Models We Consider -- 6.2. Comparison of Age Profiles from the HRS and the Model Simulations -- 7. Conclusion -- References -- Appendix 1: Present Value Calculations for the Annuity-Like Components of Comprehensive Wealth -- Defined Benefit Pension Benefits -- Social Security Benefits -- Annuities and Welfare Benefits -- Appendix 2: Detailed Description of the Life Cycle Model Simulations Reported in the Paper -- Simulation Results -- Baseline Life Cycle Model -- Effect of Uncertain Longevity -- Effect of a Bequest Function -- Effect of Differential Mortality by Wealth -- Effect of Random Medical Expenses -- End Notes -- Chapter 2 CONVERTING RETIREMENT SAVINGS INTO INCOME: ANNUITIES AND PERIODIC WITHDRAWALS -- Summary -- Introduction -- The Nature of Risk in Retirement -- Longevity Risk -- Inflation Risk -- Investment Risk -- Unexpected Events -- Annuities as a Source of Retirement Income.The Current Market for Annuities -- Group Annuities -- Individual Annuities -- Timing of Payments -- Rates of Return -- Inflation Protection Options -- Tax Treatment of Annuities -- Taxation of Income from a Fixed Annuity -- Taxation of Income from a Variable Annuity -- Tax Exclusion for Long-Term Care Insurance -- Consumer Protections and the Regulatory Environment -- State Regulation of Annuities -- Federal Regulation of Annuities -- Why Is Demand for Individual Annuities So Low? -- Complexity and Lack of Transparency in Annuity Expenses -- Lack of Flexibility in Dealing with Unexpected Expenses -- Retirement Account Withdrawal Strategies -- How Long Will a Retirement Account Last with Fixed Annual Withdrawals? -- Initial Rate of Withdrawal -- Investment Portfolio -- Probability of Assets Lasting for at Least a Specific Number of Years -- Portfolio of 65% Stocks and 35% Bonds -- Portfolio of 35% Stocks and 65% Bonds -- Estimates Incorporating Life Expectancy -- Estimates of Variable Annual Withdrawals -- Summary of Withdrawal Strategies: Balancing Risks -- Appendix A. What is "Monte Carlo" Analysis? -- Appendix B. United States Life Tables, 2004 -- Author Contact Information -- End Notes -- Chapter 3 WILL THE DEMAND FOR ASSETS FALL WHEN THE BABY BOOMERS RETIRE? -- Summary and Introduction -- What Does Simple Theory Predict about Asset Demand? -- What Does the Evidence Tell Us? -- Why Are Baby Boomers Unlikely to Draw Down Assets Rapidly in Retirement? -- Saving for Unexpected Events -- Saving for Bequests -- Unequal Distribution of Assets -- Effects of the Financial Turmoil -- Will Baby Boomers Alter the Mix of Assets in Their Portfolios? -- Could Other Factors Sustain the Demand for Assets? -- Demand from Abroad -- Demand Among Immigrants -- Effect on Asset Prices -- References -- End Notes -- INDEX -- Blank Page.After many years of accumulating assets to spend in retirement, the members of the 'baby boom' generation who are beginning to retire must decide how to convert these assets into a steady stream of income. This book looks at these 78 million members.Retirement issues, plans and lifestyles.Cost and standard of livingUnited StatesEconometric modelsRetirement incomeUnited StatesEconometric modelsRetireesUnited StatesEconomic conditionsWealthUnited StatesEconometric modelsCost and standard of livingEconometric models.Retirement incomeEconometric models.RetireesEconomic conditions.WealthEconometric models.332.024/014Waverly Terrance G1863349MiAaPQMiAaPQMiAaPQBOOK9910968788003321Financial asset management and wealth in retirement4469959UNINA