Strategic Financial Planning over the Lifecycle: A Conceptual Approach to Personal Risk Management
'This book distils many decades of financial economics research into a holistic and rigorous approach to financial planning. Master this book, and you will master your own financial future.' Jeffrey Brown, University of Illinois'Strategic Financial Planning over the Lifecycle is a sophisticated personal investment textbook that shows how an individual can manage risk and consumption while taking into account earnings and savings, housing and mortgages, investment and portfolio diversification, and human capital and insurance, all while preparing for retirement and all the other contingencies that happen during a lifetime. The book is readily accessible to students, while providing in-depth analysis for the professional financial planner.' Roger G. Ibbotson, Yale University'This book uses rigorous models to address several key decisions an individual must make. The authors discuss the model's implications lucidly. This book is for serious financial advisors who want to do their job better.' William Reichenstein, Baylor University'This book is unique in deriving the formulas for annuity pricing from basic economic theory, making it useful for finance practitioners and, importantly, intellectually satisfying.' Eytan Sheshinski, The Hebrew University, Israel