{"title":"How to Evaluate Target-Date Funds: A Practical Guide","authors":"R. Gabudean, Richard A. Weiss","doi":"10.3905/jor.2019.1.048","DOIUrl":null,"url":null,"abstract":"The article describes and showcases a framework to analyze life-cycle, or target-date, investment strategies with intuitive, practical metrics. Anchored in the complex theory of life-cycle investing, we propose a comprehensive collection, or “dashboard,” of measures to capture various aspects of the problem: wealth-focused versions of return and risk concepts; the link between retirement contributions and portfolio returns; the strategy’s ability to support income in retirement; and behavior around retirement, a period when risk to invested wealth is greatest. These metrics are synthesized into one holistic view based on investor-specific preferences, highlighting the connection between investor characteristics and the life-cycle investment problem. TOPICS: Wealth management, long-term/retirement investing, pension funds","PeriodicalId":36429,"journal":{"name":"Journal of Retirement","volume":"6 1","pages":"68 - 81"},"PeriodicalIF":0.0000,"publicationDate":"2019-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Retirement","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3905/jor.2019.1.048","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 1
Abstract
The article describes and showcases a framework to analyze life-cycle, or target-date, investment strategies with intuitive, practical metrics. Anchored in the complex theory of life-cycle investing, we propose a comprehensive collection, or “dashboard,” of measures to capture various aspects of the problem: wealth-focused versions of return and risk concepts; the link between retirement contributions and portfolio returns; the strategy’s ability to support income in retirement; and behavior around retirement, a period when risk to invested wealth is greatest. These metrics are synthesized into one holistic view based on investor-specific preferences, highlighting the connection between investor characteristics and the life-cycle investment problem. TOPICS: Wealth management, long-term/retirement investing, pension funds
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