Moshe A. Milevsky's Books

Are You a Stock or a Bond?

Identify Your Own Human Capital for a Secure Financial Future, Updated and Revised

By: Moshe A. Milevsky Ph.D.

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Are You a Stock or a Bond?

Identify Your Own Human Capital for a Secure Financial Future, Updated and Revised

By: Moshe A. Milevsky Ph.D.

You must be aware of the value, potential return and risk of your own human capital (your job, career and what you do for a living as opposed to stocks and bonds or other investment choices) as well as financial capital and investments to plan a secure future. Human capital is the most valuable asset that you will own over your lifecycle. You need to balance all financial decisions with the characteristics of your human capital. The key trends identified in the first edition of the book namely, the decline of Defined Benefit (DB) pension provision, the continued increase in human longevity and the risk of personal inflation, are as relevant today as they were five years ago. The financial crisis has taught us that all types of capital – human, financial and even social – are key to a secure financial future. If your career has "stock-like" growth and risk characteristics, Milevsky helps you balance your "portfolio" by tilting investments towards safer "bonds." If your job is more secure but offers lower financial upside, you'll learn to tilt your investments towards stocks that compensate for your lower earning potential. Either way, Milevsky shows you how to integrate investments, insurance, annuities, and retirement plans to generate the safe and reliable income you'll need. This Edition's updates include: New 2012 data, charts, figures, and references More coverage of incorporating "human capital" into financial planning Advice reflecting the aftermath of the financial crisis Easier, more usable techniques, and less math!

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282

Publisher

FT Press

Published Date

ISBN 10

0133115321

ISBN 13

9780133115321

The 7 Most Important Equations for Your Retirement

The Fascinating People and Ideas Behind Planning Your Retirement Income

By: Moshe A. Milevsky

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The 7 Most Important Equations for Your Retirement

The Fascinating People and Ideas Behind Planning Your Retirement Income

By: Moshe A. Milevsky

The 800 years of scientific breakthroughs that will help salvage your retirement plans Physics, Chemistry, Astronomy, Biology; every field has its intellectual giants who made breakthrough discoveries that changed the course of history. What about the topic of retirement planning? Is it a science? Or is retirement income planning just a collection of rules-of-thumb, financial products and sales pitches? In The 7 Most Important Equations for Your Retirement...And the Stories Behind Them Moshe Milevsky argues that twenty first century retirement income planning is indeed a science and has its foundations in the work of great sages who made conceptual and controversial breakthroughs over the last eight centuries. In the book Milevsky highlights the work of seven scholars—summarized by seven equations—who shaped all modern retirement calculations. He tells the stories of Leonardo Fibonnaci the Italian businessman; Benjamin Gompertz the gentleman actuary; Edmund Halley the astronomer; Irving Fisher the stock jock; Paul Samuelson the economic guru; Solomon Heubner the insurance and marketing visionary, and Andrey Kolmogorov the Russian mathematical genius—all giants in their respective fields who collectively laid the foundations for modern retirement income planning. With baby boomers starting to hit retirement age, planning for retirement income has become a hot topic across the country Author Moshe Milevsky is an internationally-respected financial expert with the knowledge you need to assess whether you are ready to retire or not Presents an entertaining, informative narrative approach to financial planning Understanding the ideas behind these seven foundation equations—which Moshe Milevsky explains in a manner that everyone can appreciate—will help baby boomers better prepare for retirement. This is a book unlike anything you have ever read on retirement planning. Think Suze Orman meets Stephen Hawking. If you ever wondered what the point of all that high school mathematics was, Moshe Milevsky's answer is: So that you can figure out how to retire...while you can still enjoy your money.

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229

Publisher

John Wiley & Sons

Published Date

ISBN 10

1118291530

ISBN 13

9781118291535

Your Money Milestones

A Guide to Making the 9 Most Important Financial Decisions of Your Life

By: Moshe A. Milevsky Ph.D.

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Your Money Milestones

A Guide to Making the 9 Most Important Financial Decisions of Your Life

By: Moshe A. Milevsky Ph.D.

A Whole New Way to Look at Your Money...and Make It Grow! “Here is a lively new guide that offers fresh and actionable ways to approach everyday financial problems. Whether you’re rich or just getting by, starting your career or winding down, you’ll benefit from the author’s insightful observations and suggestions—all delivered with warmth and wit.” —Evan Cooper, Deputy Editor, InvestmentNews “The author’s unique gift is to make complex ideas from the world of high finance simple to understand, and his new book gently coaches readers in how to think about their personal finances. Best of all, readers can use Milevsky’s financial calculators online to test these ideas, so they can make choices with confidence. Investing in this book might be the wisest financial decision you make this year.” —Gil Weinreich, Editor, Research Magazine “The author has accomplished the near impossible. He has made the complicated, confusing, and often contradictory world of personal financial planning easy to understand. More importantly, he’s made it easy to act on his ground-breaking advice and guidance and has made it easy for readers to address their most important financial decisions in a thoughtful, practical, and painless manner.” — Robert Powell, Editor, Retirement Weekly and Retirement Columnist, www.MarketWatch.com/retirement “What are the nine crucial financial decisions every person must make over the course of a lifetime? If you don’t know, read this book. The author’s nine choices revolve around his core concept of human capital and how it must be gradually converted to financial capital to achieve a successful retirement.” —Jonathan Chevreau, National Post Columnist and Author of Findependence Day “Your Money Milestones helps just about anyone see life’s most important money decisions in a fresh and completely rational light. If you want a smart, practical roadmap to a financially sound future, you need this book.” —Eric Schurenberg, Editor-in-Chief, BNET Your Money Milestones illustrates how four principles inspired by basic arithmetic can be applied to manage the most important financial decisions (money milestones) people face over their entire financial lifecycles. Addition: Identify the true value all of your financial resources. Subtraction: Budget for the hidden liabilities in your future. Division: Spend your total resources evenly over time. Multiplication: Prepare for many alternative and unexpected universes. This book offers a complete framework for thinking about money that’s every bit as provocative as Freakonomics. Drawing on the newest research into psychology and personal finance, Milevsky helps you identify the true value all of your resources; budget for hidden liabilities in your future; plan to spend your total resources smoothly over time; and prepare for unexpected events that could upend even the most careful planning. You’ll discover why children are short-term investment liabilities but may be long-term pension assets, why winning the lottery may increase your chances of going bankrupt, and why giving up control of your retirement nest egg might actually make you happier. The insights are fascinating and useful throughout your life whether you're deciding what to study, contemplating your first home purchase, deciding whether to keep contributing to your 401(k), or considering when and whether to retire.

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292

Publisher

FT Press

Published Date

ISBN 10

0137067720

ISBN 13

9780137067725

Strategic Financial Planning over the Lifecycle

A Conceptual Approach to Personal Risk Management

By: Narat Charupat,Huaxiong Huang,Moshe A. Milevsky

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Strategic Financial Planning over the Lifecycle

A Conceptual Approach to Personal Risk Management

By: Narat Charupat,Huaxiong Huang,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. 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.

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Page Count

383

Publisher

Cambridge University Press

Published Date

ISBN 10

1107717442

ISBN 13

9781107717442

The Calculus of Retirement Income

Financial Models for Pension Annuities and Life Insurance

By: Moshe A. Milevsky

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The Calculus of Retirement Income

Financial Models for Pension Annuities and Life Insurance

By: Moshe A. Milevsky

This 2006 book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real-world problem of generating sustainable retirement income towards the end of the human life-cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious framework. The underlying technology and terminology of the book are based on continuous-time financial economics by merging analytic laws of mortality with the dynamics of equity markets and interest rates. Nonetheless, the book requires a minimal background in mathematics and emphasizes applications and examples more than proofs and theorems. It can serve as an ideal textbook for an applied course on wealth management and retirement planning in addition to being a reference for quantitatively-inclined financial planners.

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Page Count

301

Publisher

Cambridge University Press

Published Date

ISBN 10

1139454862

ISBN 13

9781139454865

King William's Tontine

Why the Retirement Annuity of the Future Should Resemble its Past

By: Moshe A. Milevsky

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King William's Tontine

Why the Retirement Annuity of the Future Should Resemble its Past

By: Moshe A. Milevsky

The book reviews the finance, economics, and history of tontines, and argues that they should be resurrected in the twenty-first century.

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Page Count

275

Publisher

Cambridge University Press

Published Date

ISBN 10

1107076129

ISBN 13

9781107076129

Is Buying a Home or Renting Right for You?

By: Moshe A. Milevsky Ph.D.

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Is Buying a Home or Renting Right for You?

By: Moshe A. Milevsky Ph.D.

This is the eBook version of the printed book. This Element is an excerpt from Your Money Milestones: A Guide to Making the 9 Most Important Financial Decisions of Your Life (9780137029105) by Moshe A. Milevsky, Ph.D. Available in print and digital formats. Why millions of people should rent, not buy–and keep renting as long as possible! Many individuals should not own a house–or they should at least delay the purchase as long as possible. Anyone that followed this advice in the United States over the last few years, possibly the last few decades, would be much better off today. This is not just me dispensing hindsight. If you consider the spreading of resources over time, you can arrive at the same conclusion. But the reason is not as simple as you might think.

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Publisher

Pearson Education

Published Date

ISBN 10

0131388401

ISBN 13

9780131388406

Book's by Moshe A. Milevsky

Are You a Stock or a Bond?

Are You a Stock or a Bond?

The 7 Most Important Equations for Your Retirement

The 7 Most Important Equations for Your Retirement

Your Money Milestones

Your Money Milestones

Strategic Financial Planning over the Lifecycle

Strategic Financial Planning over the Lifecycle

The Calculus of Retirement Income

The Calculus of Retirement Income

King William's Tontine

King William's Tontine

Is Buying a Home or Renting Right for You?

Is Buying a Home or Renting Right for You?

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