Skip to content
Cart

Your Cart

×

You have 0 items in your cart.

Register Sign in Wishlist

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

$40.00 ( ) USD

  • Date Published: May 2012
  • availability: This item is not supplied by Cambridge University Press in your region. Please contact eBooks.com for availability.
  • format: Adobe eBook Reader
  • isbn: 9781139415217

$ 40.00 USD ( )
Adobe eBook Reader

You will be taken to ebooks.com for this purchase
Buy eBook Add to wishlist

Other available formats:
Paperback, Hardback


Looking for an examination copy?

This title is not currently available for examination. However, if you are interested in the title for your course we can consider offering an examination copy. To register your interest please contact collegesales@cambridge.org providing details of the course you are teaching.

Description
Product filter button
Description
Contents
Resources
Courses
About the Authors
  • 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.

    • Uses the lifecycle model of Nobel Laureate Franco Modigliani as the unifying theme for understanding finance
    • Blends practical advice with technical rigor on all features of strategic financial planning
    • Slides for teaching the book and a solutions manual will be available to instructors
    Read more

    Reviews & endorsements

    'This book distils many decades of financial economics research into a holistic and rigorous approach to financial planning. Master this book, and you will master your own financial future.' Jeffrey Brown, University of Illinois

    'Strategic Financial Planning over the Lifecycle is a sophisticated personal investment textbook that shows how an individual can manage risk and consumption while taking into account earnings and savings, housing and mortgages, investment and portfolio diversification, and human capital and insurance, all while preparing for retirement and all the other contingencies that happen during a lifetime. The book is readily accessible to students, while providing in-depth analysis for the professional financial planner.' Roger G. Ibbotson, Yale University

    'This book uses rigorous models to address several key decisions an individual must make. The authors discuss the model's implications lucidly. This book is for serious financial advisors who want to do their job better.' William Reichenstein, Baylor University

    'This book is unique in deriving the formulas for annuity pricing from basic economic theory, making it useful for finance practitioners and, importantly, intellectually satisfying.' Eytan Sheshinski, The Hebrew University, Israel

    See more reviews

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Date Published: May 2012
    • format: Adobe eBook Reader
    • isbn: 9781139415217
    • contains: 20 b/w illus. 59 tables
    • availability: This item is not supplied by Cambridge University Press in your region. Please contact eBooks.com for availability.
  • Table of Contents

    1. Introduction and motivation
    2. Mathematical preliminaries - working with interest rates
    3. Personal balance sheet and human capital
    4. Consumption smoothing and optimal savings
    5. Debts, loans, and mortgages [Canadian content]
    6. Personal income taxes [Canadian content]
    7. Risk, utility, and insurance
    8. Mortality risk and life insurance
    9. Investment and diversification
    10. The mathematics of portfolio diversification
    11. Housing decisions
    12. Pensions and retirement [Canadian content]
    13. Advanced material*: Part I. Continuous time and the calculus of variations
    14. Advanced material*: Part II. Stochastic optimal control and the HJB equation
    15. Concluding thoughts and next steps.

  • Instructors have used or reviewed this title for the following courses

    • Consumer Finance
    • Life Cycle Investing and Risk Management
    • Life/Health Insurance Planning
    • Normative Applications in Consumer Sciences
    • Normative Approaches to Consumer Sciences
    • Personal Finance
    • Personal Life-Cycle Economics
  • Authors

    Narat Charupat, York University, Toronto
    Narat Charupat is an Associate Professor at the DeGroote School of Business, McMaster University, Ontario, Canada. His research has been published in journals such as the Journal of Economic Theory, the Journal of Banking and Finance, the Journal of Risk and Insurance and the Journal of Financial and Quantitative Analysis. Professor Charupat's areas of professional interest include annuity and insurance products, financial innovation, arbitrage and behavioral finance. He has taught courses in financial derivatives and personal and international finance.

    Huaxiong Huang, York University, Toronto
    Huaxiong Huang is a Professor of Applied Mathematics at York University, Toronto, Canada, where he has taught since 1999. He has published more than 60 articles in peer-reviewed journals including the Journal of Banking and Finance, Insurance: Mathematics and Economics, the Journal of Risk and Insurance and the Financial Analysts Journal. He is an associate editor of the Journal of Engineering Mathematics and Advances in Applied Mathematics and Mechanics and managing editor of the Mathematics-in-Industry Case Studies. A fellow of the Fields Institute, he has held visiting positions in China, Japan, the United Kingdom and the United States.

    Moshe A. Milevsky, York University, Toronto
    Moshe Milevsky is a Finance Professor at York University, Toronto, Canada, Executive Director of The IFID Centre in Toronto and President and CEO of the QWeMA Group. He has written eight books, more than 60 peer-reviewed journal articles and more than 200 articles in the popular press on insurance, investments, pensions, retirement and annuities, including The Calculus of Retirement Income: Financial Models for Pension Annuities and Life Insurance (Cambridge University Press, 2006). A fellow of the Fields Institute, Professor Milevsky has received two National Magazine (Canada) awards, the Graham and Dodd scroll award and been honored by the Retirement Income Insurance Association for lifetime achievement in applied research. In 2009, Investment Adviser magazine named him one of the 25 most influential people in the financial advisory business.

Sign In

Please sign in to access your account

Cancel

Not already registered? Create an account now. ×

Sorry, this resource is locked

Please register or sign in to request access. If you are having problems accessing these resources please email lecturers@cambridge.org

Register Sign in
Please note that this file is password protected. You will be asked to input your password on the next screen.

» Proceed

You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Continue ×

Find content that relates to you

Are you sure you want to delete your account?

This cannot be undone.

Cancel

Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

×
Please fill in the required fields in your feedback submission.
×