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9780521148030

Strategic Financial Planning over the Lifecycle: A Conceptual Approach to Personal Risk Management

by
  • ISBN13:

    9780521148030

  • ISBN10:

    0521148030

  • Format: Paperback
  • Copyright: 2012-05-28
  • Publisher: Cambridge University Press

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Summary

This book on personal financial planning and wealth management employs the lifecycle model of financial economics. The central idea of 'consumption smoothing' is used to connect chapters and topics such as saving and investment, debt management, risk management and retirement planning. The first part of the book is nontechnical and aimed at a wide audience with no special technical background. The second part of the book provides a rigorous presentation of the lifecycle model from first principles using the calculus of variations. The accompanying website is found at http://www.yorku.ca/milevsky/?page_id=185.

Table of Contents

Introduction and motivation
Mathematical preliminaries - working with interest rates
Personal balance sheet and human capital
Consumption smoothing and optimal savings
Debts, loans, and mortgages [Canadian content]
Personal income taxes [Canadian content]
Risk, utility, and insurance
Mortality risk and life insurance
Investment and diversification
The mathematics of portfolio diversification
Housing decisions
Pensions and retirement [Canadian content]
Advanced material*:
Continuous time and the calculus of variations
Advanced material*:
Stochastic optimal control and the HJB equation
Concluding thoughts and next steps
Table of Contents provided by Publisher. All Rights Reserved.

Supplemental Materials

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

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