Managing Retirement Incomes

In this article we discuss the state of literature relating to decumulation retirement wealth and management incomes. On one hand, life-cycle models that allow for strong bequest motives effects medical expense risks have been shown be able rationalize retirees’ wealth, income, consumption trajectories. other, studies individual asset choices portfolio decisions seem suggest low levels financial literacy engagement as well non-negligible consequences age-related cognitive decline on decision making. We argue future work should try reconcile these two sets conflicting findings into a coherent holistic evidence base inform policy, because issues concerning incomes, insurance against different in more generally, will become increasingly important cohorts retirees.