{"id":"https://openalex.org/W1856264249","doi":null,"title":"Safe Savings Rates: A New Approach to Retirement Planning over the Lifecycle","display_name":"Safe Savings Rates: A New Approach to Retirement Planning over the Lifecycle","publication_year":2011,"publication_date":"2011-01-01","ids":{"openalex":"https://openalex.org/W1856264249","mag":"1856264249"},"language":"en","primary_location":{"id":"pmh:oai::28796","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},"volume":null,"type":"report","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5082453332","display_name":"Wade D. Pfau","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I136930169","display_name":"American College of Financial Services","ror":"https://ror.org/04nap1310","country_code":"US","type":"education","lineage":["https://openalex.org/I136930169"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Wade D. Pfau","raw_affiliation_strings":["The American College for Financial Services"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The American College for Financial Services","institution_ids":["https://openalex.org/I136930169"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5082453332"],"corresponding_institution_ids":["https://openalex.org/I136930169"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":26,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11631","display_name":"Retirement, Disability, and Employment","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/3317","display_name":"Demography"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/retirement-planning","display_name":"retirement planning","score":0.8230000138282776},{"id":"https://openalex.org/keywords/wealth-accumulation","display_name":"wealth accumulation","score":0.6110000014305115},{"id":"https://openalex.org/keywords/decumulation","display_name":"decumulation","score":0.7879999876022339},{"id":"https://openalex.org/keywords/bull-and-bear-markets","display_name":"bull and bear markets","score":0.6859999895095825}],"concepts":[{"id":"https://openalex.org/C2778002999","wikidata":"https://www.wikidata.org/wiki/Q7316838","display_name":"Retirement planning","level":2,"score":0.7409992218017578},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.605967104434967},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3174246549606323}],"mesh":[],"locations_count":5,"locations":[{"id":"pmh:oai::28796","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},{"id":"pmh:oai:RePEc:pra:mprapa:28796","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:1856264249","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3122719723","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:pra:mprapa:28796","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:3149452812","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/pra/mprapa/28796.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"MPRA Paper","raw_type":null}],"best_oa_location":{"id":"pmh:oai::28796","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/28796/1/MPRA_paper_28796.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G5798641879","display_name":"Asset Allocation Decisions for Public Pension Systems : Theory and Practice","funder_award_id":"20730179","funder_id":"https://openalex.org/F4320334764","funder_display_name":"Japan Society for the Promotion of Science"}],"funders":[{"id":"https://openalex.org/F4320334764","display_name":"Japan Society for the Promotion of Science","ror":"https://ror.org/00hhkn466"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1856264249.pdf","grobid_xml":"https://content.openalex.org/works/W1856264249.grobid-xml"},"referenced_works_count":4,"referenced_works":["https://openalex.org/W622604841","https://openalex.org/W1562031542","https://openalex.org/W2341531408","https://openalex.org/W2439087910"],"related_works":["https://openalex.org/W1914623481","https://openalex.org/W1528086290","https://openalex.org/W2186835170","https://openalex.org/W4220738731","https://openalex.org/W1982453595","https://openalex.org/W1857743225","https://openalex.org/W2116699133","https://openalex.org/W2605326387","https://openalex.org/W7100109684","https://openalex.org/W4384826837"],"abstract_inverted_index":{"Focusing":[0],"on":[1,82,98,233],"a":[2,9,29,115,140,157,176],"\u201csafe":[3,92],"withdrawal":[4,45,55,67,89,136,191],"rate\u201d":[5,94],"and":[6,35,122,138,171,193],"then":[7],"deriving":[8],"\u201cwealth":[10],"accumulation":[11,121],"target\u201d":[12],"to":[13,23,58,70,108,144,168,185,215],"achieve":[14],"by":[15],"the":[16,20,32,42,53,64,83,88,102,110,120,150,182,209],"retirement":[17,26,36,78,112,174,187,197],"date":[18],"is":[19,155,222,230],"wrong":[21],"way":[22],"think":[24],"about":[25],"planning.":[27],"Such":[28],"formulation":[30],"isolates":[31],"working":[33],"(accumulation)":[34],"(decumulation)":[37],"phases.":[38,124],"When":[39],"considered":[40],"together,":[41],"lowest":[43],"sustainable":[44,66],"rates":[46,68,127,137,192],"(which":[47],"give":[48],"us":[49],"our":[50],"idea":[51],"of":[52,77,217],"safe":[54],"rate)":[56],"tend":[57,69],"follow":[59,71],"prolonged":[60,72],"bull":[61],"markets,":[62],"while":[63],"highest":[65],"bear":[73],"markets.":[74],"The":[75,91],"focus":[76],"planning":[79],"should":[80,212],"be":[81,96,165,199,213],"savings":[84,93,103,126,160,178,210],"rate":[85,104,179],"rather":[86],"than":[87,135,229],"rate.":[90],"may":[95,198],"based":[97,232],"historical":[99],"simulations":[100],"as":[101,201],"which":[105],"proves":[106],"sufficient":[107],"support":[109],"desired":[111],"expenditures":[113],"from":[114],"lifecycle":[116],"perspective":[117],"including":[118],"both":[119],"decumulation":[123],"Safe":[125],"derived":[128],"in":[129,205],"this":[130,206],"manner":[131],"are":[132],"less":[133,227],"volatile":[134],"imply":[139],"lower":[141],"ex-post":[142],"cost":[143],"having":[145],"been":[146],"overly":[147],"conservative.":[148],"Unlike":[149],"4":[151],"percent":[152],"rule,":[153],"there":[154],"not":[156],"universal":[158],"\"safe":[159],"rate,\"":[161],"but":[162],"guidelines":[163],"can":[164],"created.":[166],"Starting":[167],"save":[169],"early":[170],"consistently":[172],"for":[173],"at":[175,196],"reasonable":[177],"will":[180],"provide":[181],"best":[183],"chance":[184],"meet":[186],"expenditure":[188],"goals.":[189],"Actual":[190],"wealth":[194,228],"accumulations":[195],"treated":[200],"almost":[202],"an":[203],"afterthought":[204],"framework.":[207],"But":[208],"plan":[211],"adhered":[214],"regardless":[216],"whether":[218],"it":[219],"seems":[220],"one":[221],"accumulating":[223],"either":[224],"more":[225],"or":[226],"needed":[231],"traditional":[234],"criteria.":[235]},"counts_by_year":[{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":1},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":3},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-31T12:09:11.096373","created_date":"2016-06-24T00:00:00"}