VAN WEERT, KOEN; DHAENE, JAN; GOOVAERTS, MARC - In: Journal of Pension Economics and Finance 11 (2012) 02, pp. 285-309
This paper addresses the issue of lifetime ruin, which is defined as running out of money before death. Taking into account the random nature of the remaining lifetime, we discuss how a retiree should invest in order to avoid lifetime ruin. We also discuss the conditional time of lifetime ruin...