Financial Risk, Retirement, Saving and Investment.

TitleFinancial Risk, Retirement, Saving and Investment.
Publication TypeReport
Year of Publication2006
AuthorsGustman, AL, Steinmeier, TL
Document NumberProject #: UM06-12
Date Published09/2006
InstitutionMichigan Retirement and Research Center
CityAnn Arbor, MI
Other NumbersWP 2006-130
KeywordsEconomics, financial risk, Investments, Retirement
Abstract

This paper considers the prospects for adding choice of portfolio composition to a life cycle model of retirement and saving, while preserving the ability of the model to continue to explain the course of saving and retirement. If eventually successful, such a modification might be used to improve understanding of retirement and saving behavior both under the current Social Security system, and under variations involving personal accounts. In particular we consider the implications of separating parameters that now reflect both risk aversion and time preference

Citation Key10272
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