Mortality generally refers to death and more specifically to the rate of death among a given population.
- The value of health and longevity -- ”a 1 percent reduction in cancer mortality would be worth $500 billion” (Dartmouth College)
- 2 formulas intended to optimize annual retirement withdrawal strategy -- 1 approach is dynamic and the other is based on...
Duration is a measure of the time associated with cash flows or payments from a bond. Duration measures the amount of time (in years from the purchase date) required for a bond owner to receive interest and principal payments that are equal to the cost of the bond.
Long duration bonds have payments that are spread-out over a relatively long period of time (e.g...
Conventional financial wisdom says that bonds should comprise an increasing percentage of a portfolio as the owner ages and heads into retirement.
In theory, a retiree’s need for income and a reduced tolerance for risk are the main drivers of the larger allocation to bonds.
A key consideration, though, is...
A basic life annuity makes payments when the annuity owner is alive.
In this sense, an annuity is the reverse of...
Mark J. Warshawsky is Director of Retirement Research at Towers Watson.
Dr. Warshawsky served as assistant secretary for economic policy at the U.S. Treasury Department from 2004-2006 and he has held senior level economic research positions at the Federal Reserve Board, the Internal Revenue Service and...
