Retirement Portfolios Workbook Theory, Construction, and Management

by Zwecher, Michael J.

• ISBN13: 9780470559871
• ISBN10: 047055987X
• Edition: 1st
• Format: Paperback
• Copyright: 2010-01-26
• Publisher: Wiley

Summary

Constructing a retirement portfolio is one of the most difficult but in demand tasks facing financial advisors. The pressures are particularly intense now after the financial crisis and oncoming rush of retiring baby boomers. It is imperative that financial advisors be equipped and ready to construct portfolios that will provide income, continue to generate growth, yet protect assets from disaster. Retirement Portfolios Workbook, written by leading practitioner Michael J. Zwecher, provides chapter summaries and end of chapter questions to the main book.

Author Biography

MICHAEL J. ZWECHER is a leading expert on retirement income. He has created guidance, designed products, tools, and portfolio constructions that appeal to the financial advisor community and their clients. Zwecher co-chairs the curriculum committee of the Retirement Income Industry Association. He spent over ten years at Merrill Lynch, holding senior roles in risk management and wealth management, where he ran the Investment Management Strategic Solutions team in the Financial Products Group. Prior to Merrill, he was a consultant with Deloitte, an assistant professor at the Graduate School of Business Administration at Fordham University, and a visiting associate professor at the University of Wisconsin–Madison. Zwecher holds a PhD in finance from the University of Wisconsin–Madison.

Table of Contents

Preface	p. ix
Questions
Portfolio Focus and Stage of Life	p. 3
The Top-Down View: A Short Primer on Economic Models of Retirement Income	p. 9
The Importance of Lifestyle Flooring	p. 15
Monetizing Mortality: Annuities and Longevity Insurance	p. 21
Flooring with Capital Markets Products	p. 25
Building Retirement Income Portfolios	p. 29
Creating Allocations for Constructing Practical Portfolios by Age and Lifestyle Needs	p. 35
Rebalancing Retirement Income Portfolios	p. 43
Active Risk Management for Retirement Income Portfolios	p. 47
The Transition Phase	p. 57
Putting Together the Proposal	p. 61
Market Segmentation	p. 63
Products and Example Portfolios	p. 65
Preparing Your Client for a Retirement Income Portfolio	p. 67
Salvage Operations, Mistakes, and Fallacies	p. 69
Solutions
Portfolio Focus and Stage of Life	p. 77
The Top-Down View: A Short Primer on Economic Models of Retirement Income	p. 89
The Importance of Lifestyle Flooring	p. 99
Monetizing Mortality: Annuities and Longevity Insurance	p. 109
Flooring with Capital Markets Products	p. 115
Building Retirement Income Portfolios	p. 121
Creating Allocations for Constructing Practical Portfolios by Age and Lifestyle Needs	p. 129
Rebalancing Retirement Income Portfolios	p. 141
Active Risk Management for Retirement Income Portfolios	p. 149
The Transition Phase	p. 159
Putting Together the Proposal	p. 163
Market Segmentation	p. 165
Products and Example Portfolios	p. 167
Preparing Your Client for a Retirement Income Portfolio	p. 171
Salvage Operations, Mistakes, and Fallacies	p. 177
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