Focusing on retirement and decumulation, this open access book presents the modern tontine as a solution to financial management challenges faced later in life. Dr. Milevsky, a retirement planning expert, guides readers through building a tontine using a technically oriented, cookbook format, complete with R code. The book emphasizes a statistical approach to retirement planning, making it a practical resource for both professionals and retirees seeking efficient financial strategies.
From Ruin Probabilities to Intelligent Drawdowns
Focused on computational tools for the retirement income industry, this book offers algorithmic approaches that readers can implement using the R coding language. Each chapter provides step-by-step guidance for generating quantitative solutions to common retirement planning questions, enhancing understanding of finance and economics in this field. It's particularly beneficial for advanced students and professionals in wealth management, requiring a foundational knowledge of financial principles, economics, and accounting.