Milevsky: What Is Your Financial Legacy – Today?
In the beginning, life insurance was perceived as just another gamble, or a game of chance, involving three parties.
Milevsky: How Much in Risky Stocks vs. Safe Cash?
From a purely mathematical point of view, the “stocks are safer over long periods of time” argument — before Paul Samuelson took an axe to it — went as follows.
Milevsky: What Is a Proper Spending Rate in Retirement?
Professor Irving Fisher, whose reputation as a great economic scholar was shattered by the Great Depression, developed a unique equation to predict one's spending rate in retirement.
Is a Pension Annuity Worth It?
Towards the end of the 17th century, politicians and bureaucrats in the City of London were facing a problem not unlike the one faced by many aging cities in the early 21st century.
Gompertz’ Law of Mortality: How Long Must Your Money Last?
Benjamin Gompertz has joined a very small distinctive group of scholars with an actual equation named after him. The equation has been used by researchers in demographic studies, the world over, for almost two centuries now.
The Debt Retirees Owe to Fibonacci
You might have heard of Leonardo Pisano filius (“family,” in Latin) Bonacci, a.k.a. Fibonacci (1170-1250), probably the most famous mathematician of the Middle Ages.