03123nam 22005415 450 991057686810332120241120180409.010.1007/978-3-031-00928-0(CKB)5860000000051237(DE-He213)978-3-031-00928-0(EXLCZ)99586000000005123720220607d2022 u| 0engurnn#008mamaatxtrdacontentcrdamediacrrdacarrierHow to Build a Modern Tontine Algorithms, Scripts and Tips /by Moshe Arye Milevsky1st ed. 2022.Cham :Springer International Publishing :Imprint: Springer,2022.1 online resource (XXI, 156 p. 35 illus., 30 illus. in color.)Future of Business and Finance,2662-24753-031-03184-9 1. Why Tontines? Why Now? -- 2. Financial & Actuarial Background -- 3. Building a Tontine Simulation in R -- 4. Statistical Risk Management -- 5. Death Benefits, Refunds & Covenants -- 6. Goodbye LogNormal Distribution -- 7. Squeezing the Most from Mortality -- 8. Managing a Competitive Tontine Business -- 9. Solutions & Advanced Hints -- 10. Concluding Remarks: Tontine Thinking.This open access book introduces the modern tontine and its applications in retirement and decumulation. Personal financial management in the later stages of life presents unique challenges, and renowned retirement planning expert Dr. Milevsky proposes the modern tontine as a solution. With the goal of guiding professionals and retirees in more efficient decumulation, the book demonstrates how to build a modern tontine. It is technically oriented, employing a cookbook format, featuring R code, and examining retirement planning through a statistical lens. This how-to guide, which is a sequel to his 2020 book Retirement Income Recipes in R, will be invaluable for retirement planning professionals and advisors, as well as for PhD scholars in retirement planning, quantitative finance, and related fields. This book is open access.Future of Business and Finance,2662-2475StatisticsFinancial risk managementActuarial scienceSocial sciencesMathematicsStatistics in Business, Management, Economics, Finance, InsuranceRisk ManagementActuarial MathematicsMathematics in Business, Economics and FinanceStatistics.Financial risk management.Actuarial science.Social sciencesMathematics.Statistics in Business, Management, Economics, Finance, Insurance.Risk Management.Actuarial Mathematics.Mathematics in Business, Economics and Finance.300.727Milevsky Moshe Aryeauthttp://id.loc.gov/vocabulary/relators/aut875495BOOK9910576868103321How to Build a Modern Tontine2996011UNINA