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- Published online November 1, 2018.
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- Latest version (October 5, 2018 - 03:56).
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© 2018 Pageant Media Ltd
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- M. Barton Waring
- Laurence B. Siegel
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In this issue
What Investment Risk Means to You, Illustrated: Strategic Asset Allocation, the Budget Constraint, and the Volatility of Spending during Retirement
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- Article
- Abstract
- ASSET-ONLY RISK, UNDER THE TRADITIONAL CAPM
- WHAT SINGLE PERIOD RISK REALLY MEANS, IN A PICTURE
- IS THE SINGLE-PERIOD CAPM THE BEST MODEL?
- FROM SINGLE PERIOD TO MULTI-PERIOD CAPITAL ASSET PRICING MODELS
- WHAT DOES A MULTI-PERIOD CAPM SPENDING PLAN LOOK LIKE?
- A MULTI-PERIOD SPENDING EXAMPLE
- GRAPHICAL VISUALIZATION OF MULTI-PERIOD SPENDING RISK
- SECOND, WHAT IS THE SPENDING RISK WITH A RISKY SAA POLICY?
- “RESHAPING” SPENDING PLANS: THEY DON’T HAVE TO BE LEVEL—MORE EARLIER AND LESS LATER?
- INFORMING THE STRATEGIC ASSET ALLOCATION DECISION
- THE RISK OF NOT HONORING THE BUDGET CONSTRAINT: THE 4% RULE
- SMOOTHING FORCES DIVERGENCE FROM THE BUDGET CONSTRAINT, ADDING RISK
- SENSITIVITY OF RESULTS TO THE SIMULATION MODEL
- CONCLUSION
- ENDNOTES
- REFERENCES
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