This chapter surveys the decumulation services offered by investment roboadvisors as a
case study with which to examine regulatory and market structure issues raised by …

The authors propose three principles for evaluating the practical efficacy of machine
learning for stock selection, and they compare the performance of various models and …

Recent asset pricing studies have suggested that demand for stocks since 1980 has driven
expected returns below their historical average. The current yield of risk-free assets in the …

Optimal safe initial withdrawal rates can differ significantly across relatively similar retiree
household scenarios and to a much larger extent than has been commonly noted in …

Debate continues regarding how an investor's equity allocation should change during
retirement. This study tests four different changing equity glide path shapes: increasing …

This chapter explores how lower expected returns affect optimal saving and spending during
working years, retirement replacement rates, retirement lifestyles, and the cost of bequests …

This paper constructs new indexes of mutual fund returns from 1926 and compares the
returns investors could have realized to published market returns. The stock fund investor …

This paper contrasts the relative efficiency of single premium immediate annuities (SPIAs)
and deferred income annuities (DIAs) for a variety of retirement scenarios. The analysis …

President Donald Trump has frequently compared himself to one of his most important
predecessors, Andrew Jackson, and has hung Jackson's portrait in the Oval Office. While Mr …

The traditional model of retirement planning centers around the accumulation of a portfolio
dur-ing the earning years followed by a drawdown from this portfolio after retirement. This …