论文信息 - The Perfect Withdrawal Amount: A Methodology for Creating Retirement Account Distribution Strategies

The Perfect Withdrawal Amount: A Methodology for Creating Retirement Account Distribution Strategies

We present a new way to develop withdrawal strategies from retirement portfolios. It is derived analytically, instead of from empirical testing, and it iterates always in the same manner. It is based on a new measure we develop, the Perfect Withdrawal Amount, for which we discuss how to construct a probability distribution and how to apply it sequentially. We also derive a new measure of sequencing risk. We present new strategies built with this framework.

E. Dante Suarez | Antonio Suarez | Daniel T. Walz

[1] Gordon B. Pye. Sustainable Investment Withdrawals , 2000 .

[2] W. Klinger,et al. Decision Rules and Maximum Initial Withdrawal Rates , 2006 .

[3] David M. Blanchett,et al. A Dynamic and Adaptive Approach to Distribution Planning and Monitoring , 2009 .

[4] David Blanchett,et al. Asset Valuations and Safe Portfolio Withdrawal Rates , 2013 .

[5] Sustainable Retirement Income for the Socialite, the Gardener and the Uninsured , 2007 .

[6] Huaxiong Huang,et al. Spending Retirement on Planet Vulcan: The Impact of Longevity Risk Aversion on Optimal Withdrawal Rates (corrected July 2011) , 2011 .

[7] R. Stout. Stochastic optimization of retirement portfolio asset allocations and withdrawals , 2008 .

[8] David M. Zolt. Achieving a Higher Safe Withdrawal Rate With the Target Percentage Adjustment , 2013 .

[9] Jeffrey C. Strieter,et al. Guidelines for Withdrawal Rates and Portfolio Safety during Retirement , 2008 .

[10] Capital Market Expectations, Asset Allocation, and Safe Withdrawal Rates , 2011 .

[11] John B. Mitchell,et al. Dynamic Retirement Withdrawal Planning , 2006 .

[12] John B. Mitchell. Retirement Withdrawals: Preventive Reductions and Risk Management , 2011 .

[13] William P. Bengen. Determining Withdrawal Rates Using Historical Data , 2007 .

[14] D. T. Walz,et al. A Comparative Analysis of Retirement Portfolio Success Rates: Simulation versus Overlapping Periods , 2003 .