Asset allocation, human capital, and the demand to hold life insurance in retirement
DOI:
https://doi.org/10.61190/fsr.v20i4.4713Keywords:
Retirement portolio, Simulation, Asset allocation, Human capital, Life insuranceAbstract
Much research has been done on the topic of asset allocation, human capital and life inusrance demand. Some researchers attempt to explain existing patterns of each within U.S. households; others propose optimal amounts of insurance and investment given a wide variety of life-cycle assumptions. We take a case by case approach to (1) warn against dangers of applying general rules of thumb in the investment decision making process, and (2) to demonstarate how financial planners can use simulation based risk models to help investors answer the asset allocation question and the demand to hold life insurance question simultaneously.
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