Abstract
<h3>Practical Applications Summary</h3> In <b>“Flexicure” Retirement Solutions: <i>A Part of the Answer to the Pension Crisis?</i></b>, from the July 2019 issue of <b><i>The Journal of Portfolio Management</i></b>, authors <b>Lionel Martellini</b> (of <b>EDHEC-Risk Institute</b>), <b>Vincent Milhau</b> (of <b>EDHEC-Risk Institute</b>), and <b>John Mulvey</b> (of <b>Princeton University</b>) introduce a range of goal-based retirement investing strategies that allow for both security and flexibility. They describe such strategies as “flexicure,” a portmanteau of “flexible” and “secure.” The authors also describe how combining bonds, annuities, and equities can lead to improvements in the use of existing multi-asset products for retirement investing. They explain how to apply principles of goal-based investing in the retirement context and highlight the benefits of their strategies. <b>TOPICS:</b>Retirement, portfolio construction, quantitative methods
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