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The Floor-Leverage Rule for Retirement

Financial analysts journal, 2013-09, Vol.69 (5), p.45-60 [Peer Reviewed Journal]

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Title:
The Floor-Leverage Rule for Retirement
Author: Scott, Jason S. ; Watson, John G.
Subjects: Age ; Annuities ; Asset acquisitions ; Cost control ; Defined benefit plans ; Defined contribution plans ; Efficient strategies ; Equity ; Evaluation ; Expected utility ; Financial leverage ; Financial portfolios ; Investment ; Investment policy ; Investment risk ; Investment spending ; Investment strategies ; Investments ; Leverage ; Portfolio management ; Preferences ; Private Wealth Management ; Purchasing ; Retirees ; Retirement ; Retirement planning ; Risk ; Securities markets ; Spending ; Stock exchanges ; Studies ; Sustainability ; U.S.A
Is Part Of: Financial analysts journal, 2013-09, Vol.69 (5), p.45-60
Description: The floor-leverage rule is a spending and investment strategy designed for retirees who can tolerate investment risk but insist on sustainable spending. The rule calls for purchasing a spending guarantee with 85% of wealth and investing the remaining 15% in equities with 3× leverage. Surprisingly, this leverage is a tool for managing risk. The authors compare the rule with some popular strategies, illustrate it for a variety of retiree preferences, and evaluate its historical performance.
Publisher: Charlottesville: CFA Institute
Language: English
Identifier: ISSN: 0015-198X
EISSN: 1938-3312
DOI: 10.2469/faj.v69.n5.2
CODEN: FIAJA4
Source: ProQuest Central

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