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.

Proposes the modern tontine as a solution to retirement planning and decumulation Employs a cookbook-style format to encourage active learning Includes R code for easy reproducibility This book is open access, which means that you have free and unlimited access

Autorentext

Moshe Arye Milevsky is Professor of Finance at the Schulich School of Business at York University, Canada. An award-winning author and scholar, he is an expert on the modern and historical intersection of insurance and financial products. He is also a very popular speaker who has delivered over 1,000 presentations around the world.

Klappentext

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.

   Inhalt

   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.