Extending Life Cycle Models of Optimal Portfolio Choice: Integrating Flexible Work, Endogenous Retirement, and Investment Decisions with Lifetime Payouts
NBER Working Paper No. 15079
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This research reported herein was performed pursuant to a grant from the US Social Security Administration (SSA) to the Michigan Retirement Research Center (MRRC) as part of the Retirement Research Consortium. Additional research support was provided by Deutscher Verein für Versicherungswissenschaft, German Investment and Asset Management Association (BVI), and the Pension Research Council at The Wharton School of the University of Pennsylvania. Opinions and errors are solely those of the authors and not of the institutions with whom the authors are affiliated, nor of the National Bureau of Economic Research.