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Retirement Investing: A New Approach
Zvi Bodie Boston University - Department of Finance & Economics February 2001 Boston University School of Management Working Paper No. 2001-03 Abstract: This paper proposes a new approach to investing for retirement that takes advantage of recent market innovations and advances in finance theory to improve the risk/reward opportunities available to individual investors before and after retirement. The approach introduces three new elements: - It uses inflation-protected bonds to hedge a minimum standard of living after retirement. - It takes account of a person's willingness to postpone retirement. - It uses option "ladders" to lever growth in retirement income.
Keywords: Inflation-protected bonds, flexible retirement, option ladders JEL Classifications: D91, G11 Working Paper SeriesDate posted: February 19, 2001 ; Last revised: November 18, 2008Suggested CitationContact Information
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