Marston Investing for a Lifetime

Managing Wealth for the "New Normal"
1. Auflage 2014
ISBN: 978-1-118-91868-5
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: 0 - No protection

E-Book, Englisch, 272 Seiten, E-Book

Reihe: Wiley Finance Editions

Investing for a Lifetime is designed to make saving andinvesting understandable to the investor. Wharton Professor RichardC. Marston, 2014 recipient of the Investment Management ConsultantsAssociation's prestigious Matthew R. McArthurAward, guides an investor through the main investmentdecisions throughout a lifetime.
Investing for a Lifetime shows:
* how younger investors can set savings goals
* how both younger and older investors can choose investmentportfolios to achieve these goals
* how investors can sustain spending once reachingretirement.
Younger and older investors alike should understand savingsgoals that will provide enough income to sustain spending inretirement. They should devise rates of saving thatallow them to reach their goals by the time of retirement. Though retirement is often the main goal of investing, it'snot the only one. Marston discusses how funding achild's education or saving for a down payment for a homeaffects overall saving.
Sensible investing is also necessary for savings goals to berealized. Investing need not be complicated, but Marstonexplains that a diversified portfolio should include a mix ofdifferent types of U.S. stocks, foreign stocks, real estate as wellas bonds. He describes each of these asset classes and showshow they fit in an investor's portfolio. He shows howinvestors can monitor the performance of their portfolios byestablishing benchmarks for each asset class to judge how welltheir investments are doing.
He focuses particular attention on those investors nearingretirement. In today's low interest rate environment, hediscusses whether it is possible to fund retirement from interestand dividends alone. He shows how savings combined with SocialSecurity can fund retirement spending. And he asks how the"New Normal" of lower returns might force investors tosave more than in past decades, and to spend less in retirementthan in the past.
Investing for a Lifetime is for investors who want to understandmore about the savings and investment process, particularly thosewho worry about whether their retirement savings will last alifetime.

Autoren/Hrsg.

Marston, Richard C.

Inhaltsverzeichnis

Preface xi
Acknowledgments xv
PART ONE Saving and Investing 1
CHAPTER 1 Introduction: Investing for a Lifetime 3
CHAPTER 2 The Building Blocks of a Portfolio: Bonds and Stocks11
CHAPTER 3 Long Swings in Returns: Are We in a "NewNormal?" 23
CHAPTER 4 A Savings Goal for Retirement 37
CHAPTER 5 What Rate of Savings? 49
CHAPTER 6 Savings and Taxes 61
PART TWO Investment Choices 73
CHAPTER 7 Investing in U.S. Stocks 75
CHAPTER 8 Foreign Stock Markets: Industrial Countries of Europeand the Pacifi c 89
CHAPTER 9 Emerging Markets 101
CHAPTER 10 Investing in Bonds: The Basics 115
CHAPTER 11 Investing in Bonds: The Wider Bond Market 129
CHAPTER 12 Investing in Real Estate: REITs 145
CHAPTER 13 The Home as an Investment 157
PART THREE Wealth Management 169
CHAPTER 14 Choosing a Portfolio: Fitting the Pieces Together171
CHAPTER 15 Best Practices for Investing 187
CHAPTER 16 Investment Income for Retirement 199
CHAPTER 17 Spending in Retirement 209
CHAPTER 18 Retirement: Putting Together a Plan 223
CHAPTER 19 The "New Normal" and Retirement 239
About the Author 249
About the Companion Website 251
Index 253

Über Autor(innen)

RICHARD C. MARSTON is the James R.F. Guy Professor ofFinance at the Wharton School of the University of Pennsylvania. Agraduate of Yale College and MIT, where he received his PhD,Marston was also a Rhodes Scholar at Oxford University. He hastaught asset allocation for over twenty years in the CIMA Programsponsored by the Investment Management Consultants Association. In2014 he received IMCA's Matthew McArthur Award for outstandingcontributions to investment management. Since 1999, he has beenAcademic Director of the Private Wealth Management Program, aweek-long program for ultra-high net worth investors. Marston haslectured on investments throughout the United States and in over adozen foreign countries. He is the author of numerous articles andbooks, including his most recent book, Portfolio Design(Wiley, 2011).