Saturday, July 8, 2017

The RISMAT E-book and Software

The astute reader of this blog will note that this post was written more than three years after its predecessor. This was not due to lethargy on the part of the author. Rather, for the last three years I have devoted my research and writing to a project titled:

            Retirement Income Scenario Matrices (RISMAT)

The project has produced both an e-book and a suite of software written in the MATLAB language. Both are available at:

The material may be used for any purpose without the payment of any fees, subject to the terms of the Create Commons Attribution 4.0 License, for which a link is provided on the RISMAT table of contents page.

The overall approach is similar to that taken in the previous chapters of this blog, which can be considered a precursor for RISMAT. However, the MATLAB software can handle many more scenarios at speeds that are orders of magnitude faster than those of the Scratch software used for this blog. Moreover, the RISMAT e-book covers many more topics, each in considerable depth.

My hope is that this new material and the accompanying programs will be utilized by financial engineers and financial advisors who offer their services to retirees. I believe the RISMAT e-book and software can provide a useful base for comprehensive analyses of alternative approaches for providing retirement income.

It seems fitting to conclude this blog with the last sentence from the RISMAT e-book:

Following tradition, we conclude with the admonition that more research is needed (and probably more programming) -- tasks that the author, having reviewed actuarial tables, chooses to leave to others.

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