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  • © 2020

Retirement Income Recipes in R

From Ruin Probabilities to Intelligent Drawdowns

  • Teaches readers to write simple scripts using R code with algorithms provided in each chapter, so that readers can use this computational tool in the world of wealth management
  • Provides a targeted resource for future retirement services professionals, to be used in the classroom and beyond
  • Offers an extended education in wealth management for those with an established education in personal finance, financial economics, and accounting
  • Includes supplementary material: sn.pub/extras
  • Request lecturer material: sn.pub/lecturer-material

Part of the book series: Use R! (USE R)

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Softcover Book USD 69.99
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Table of contents (15 chapters)

  1. Front Matter

    Pages i-xxix
  2. Setting Expectations and Deviations

    • Moshe Arye Milevsky
    Pages 1-7
  3. Loading and Getting to Know R

    • Moshe Arye Milevsky
    Pages 9-23
  4. Coding the (Simple) Financial Life-Cycle Model

    • Moshe Arye Milevsky
    Pages 25-45
  5. Data in R: The Family Balance Sheet

    • Moshe Arye Milevsky
    Pages 47-59
  6. Portfolio Longevity: Deterministic and Stochastic

    • Moshe Arye Milevsky
    Pages 61-84
  7. Modeling the Risk of Sequence-of-Returns

    • Moshe Arye Milevsky
    Pages 85-109
  8. Modeling Human Longevity and Life Tables

    • Moshe Arye Milevsky
    Pages 111-130
  9. Life and Death in Continuous Time: Gompertz 101

    • Moshe Arye Milevsky
    Pages 131-157
  10. The Lifetime Ruin Probability (LRP)

    • Moshe Arye Milevsky
    Pages 159-179
  11. Life Annuities: From Immediate to Deferred

    • Moshe Arye Milevsky
    Pages 181-208
  12. Intelligent Drawdown Rates

    • Moshe Arye Milevsky
    Pages 209-232
  13. Pensionization: From Benefits to Utility

    • Moshe Arye Milevsky
    Pages 233-257
  14. Biological (and Other) Ages

    • Moshe Arye Milevsky
    Pages 259-279
  15. Exotic Annuities for Longevity Risk

    • Moshe Arye Milevsky
    Pages 281-296
  16. Very Last Thoughts

    • Moshe Arye Milevsky
    Pages 297-300
  17. Back Matter

    Pages 301-302

About this book

This book provides computational tools that readers can use to flourish in the retirement income industry. Each chapter describes recipe-like algorithms and explains how to implement them via simple scripts in the freely available R coding language. Students can use those skills to generate quantitative answers to the most common questions in retirement income planning, as well as to develop a deeper understanding of the finance and economics underlying the field itself. The book will be an excellent asset for experienced students who are interested in advanced wealth management, and specifically within courses that focus on holistic modeling of the retirement income process. The material will also be useful to current and future wealth management professionals within the financial services industry. Readers should have a solid understanding of financial principles, as well as a rudimentary background in economics and accounting. 

Authors and Affiliations

  • Schulich School of Business, York University, Toronto, Canada

    Moshe Arye Milevsky

About the author

Moshe Arye Milevsky is a tenured professor of finance at the Schulich School of Business and a member of the Graduate Faculty in Mathematics and Statistics at York University in Toronto, Canada, where he teaches courses on wealth management, insurance and retirement planning. He has written over sixty-five peer-reviewed articles, and this is his fifteenth published book. His prior work, King William’s Tontine: Why the Retirement Annuity of the Future Should Resemble Its Past, was awarded the Kulp-Wright Book Award from the American Risk and Insurance Association. 

Professor Milevsky is an Associate Editor of Insurance: Mathematics & Economics, as well as The Journal of Pension Economics & Finance. He is also a Fellow of the Fields Institute for Research in Mathematical Sciences, where he was previously a member of the board of directors and active in their scientific and commercial activities.

In additionto his scholarly work Professor Milevsky is a well-known industry consultant, keynote speaker and fin-tech entrepreneur, with a number of U.S. patents. He was named by Investment Advisor Magazine as one of the 35 most influential people in the U.S. financial advisory business during the last 35 years and received a lifetime achievement award from the Retirement Income Industry Association. He recently joined forces with Guardian Capital Group (Canada) to help implement many of the ideas contained in this book.

Bibliographic Information

Buy it now

Buying options

eBook USD 54.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 69.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access