most common strategy: delaying tapping housing wealth until financial wealth is exhausted and then taking a line of credit …. In addition, the results show that housing wealth displaces bonds in optimal portfolios, making the low rate of …

into a more conservative investment portfolio as retirement approaches, as a suitable way to provide for the retirement … wealth. We find that investors with very reasonable amounts of risk aversion may prefer the lifecycle approach, despite the … tendency for aggressive fixed allocation strategies to produce larger expected wealth …

We test a parametric retirement spending strategy incorporating constant spending, variable spending, smoothing, and …

In this paper we generalize the following result of Yaari (1965) on annuitization with an agent's optimal retirement …: it is optimal for individuals to annuitize all of their wealth in the absence of bequest motive. We have other results … of her wealth. When the agent's wealth is above a certain wealth threshold, annuitization is triggered, otherwise it is …