{"title":"SeLFIES: A-New(-ity) Look for Retirement","authors":"A. Muralidhar, R. C. Merton, P. Hogan","doi":"10.2139/ssrn.3548324","DOIUrl":null,"url":null,"abstract":"Individual investors, policy-makers, and members of the financial services industry are struggling to figure out how best to help individuals prepare for a financially secure retirement; namely, allowing individuals to continue their pre-retirement standard-of-living post retirement. We propose that an incorrect specification of the problem to be solved is leading, not surprisingly, to sub-optimal proposed solutions.1 When the retirement planning challenge is posed correctly, finance science suggests an elegantly simple solution - the creation of a simple new financial instrument that is a win-win-win for individuals, governments and the financial services industry.","PeriodicalId":252294,"journal":{"name":"Household Financial Planning eJournal","volume":"8 12 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Household Financial Planning eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3548324","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
Individual investors, policy-makers, and members of the financial services industry are struggling to figure out how best to help individuals prepare for a financially secure retirement; namely, allowing individuals to continue their pre-retirement standard-of-living post retirement. We propose that an incorrect specification of the problem to be solved is leading, not surprisingly, to sub-optimal proposed solutions.1 When the retirement planning challenge is posed correctly, finance science suggests an elegantly simple solution - the creation of a simple new financial instrument that is a win-win-win for individuals, governments and the financial services industry.
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