Strategic Financial Planning Over the Lifecycle: A Conceptual Approach to Personal Risk Management

Strategic Financial Planning Over the Lifecycle: A Conceptual Approach to Personal Risk Management

By Narat Charupat, Huaxiong Huang, and Moshe A Milevsky

This book on personal financial planning and wealth management employs the lifecycle model of financial economics. The central idea of "consumption smoothing" is used to connect chapters and topics such as saving and investment, debt management, risk management, and retirement planning. The first part of the book is nontechnical and aimed at a wide audience with no special technical background.

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Book Information

Publisher: Cambridge University Press
Publish Date: 05/28/2012
Pages: 382
ISBN-13: 9780521148030
ISBN-10: 0521148030
Language: English

Full Description

This book on personal financial planning and wealth management employs the lifecycle model of financial economics. The central idea of "consumption smoothing" is used to connect chapters and topics such as saving and investment, debt management, risk management, and retirement planning. The first part of the book is nontechnical and aimed at a wide audience with no special technical background. The second part of the book provides a rigorous presentation of the lifecycle model from first principles using the calculus of variations. The accompanying website is found at http: //www.yorku.ca/milevsky/?page_id=185.

About the Authors

Narat Charupat is an Associate Professor at the DeGroote School of Business, McMaster University, Ontario, Canada. His research has been published in journals such as the Journal of Economic Theory, the Journal of Banking and Finance, the Journal of Risk and Insurance and the Journal of Financial and Quantitative Analysis.

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Huaxiong Huang is a Professor of Applied Mathematics at York University, Toronto, Canada, where he has taught since 1999. He has published more than 60 articles in peer-reviewed journals including the Journal of Banking and Finance, Insurance: Mathematics and Economics, the Journal of Risk and Insurance and the Financial Analysts Journal.

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Moshe Milevsky is a Finance Professor at York University, Toronto, Canada, Executive Director of The IFID Centre in Toronto and President and CEO of the QWeMA Group. He has written eight books, more than 60 peer-reviewed journal articles and more than 200 articles in the popular press on insurance, investments, pensions, retirement and annuities, including The Calculus of Retirement Income: Financial Models for Pension Annuities and Life Insurance (Cambridge University Press, 2006).

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