PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME
Autor(a) principal: | |
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Data de Publicação: | 2009 |
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Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | ConTexto |
Texto Completo: | https://seer.ufrgs.br/index.php/ConTexto/article/view/11258 |
Resumo: | The uncertainty about the amount of income for the retirement stage may lead na individual to implement a capital accumulation plan in order to guarantee beforehand the desired income. This study approaches a series of factors that influence this decision making process: the person’s income, his or her attitude towards consuming and saving, and the investment possibilities in the financial markets. The study also aims at analyzing the actuarial models used to calculate the amount to be saved so as to generate income at the retirement stage. In the models that are presented, the individual chooses the type of contribution, the type of income and the rate of interest. Based upon these premises, the amount to be saved is calculated, bearing in mind the expected income. In order to calculate the probability of the occurrence of the expected income, each plan is simulated in two different scenarios: (a) for a specific age, also taking into account the investment of the accumulated fund (only in risk free assets) and, (b) allowing the investment in risky assets. It is noted that a conservative attitude towards the choice of the interest rate, that is, the preference for a lower interest rate, approximates the simulated and the expected results. It is also noted that the accumulated capital investment in risk asset contributes, in general, for the improvement of the final results, in the simulated plans and scenarios. |
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PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOMEPLANEJAMENTO FINANCEIRO PESSOAL: UM ESTUDO SOBRE A RENDA PÓS-APOSENTADORIAPost retirement income. Actuarial model. Financial investment. Interest rate.Renda pós-aposentadoria. Modelo atuarial. Investimento financeiro. Taxa de juro.The uncertainty about the amount of income for the retirement stage may lead na individual to implement a capital accumulation plan in order to guarantee beforehand the desired income. This study approaches a series of factors that influence this decision making process: the person’s income, his or her attitude towards consuming and saving, and the investment possibilities in the financial markets. The study also aims at analyzing the actuarial models used to calculate the amount to be saved so as to generate income at the retirement stage. In the models that are presented, the individual chooses the type of contribution, the type of income and the rate of interest. Based upon these premises, the amount to be saved is calculated, bearing in mind the expected income. In order to calculate the probability of the occurrence of the expected income, each plan is simulated in two different scenarios: (a) for a specific age, also taking into account the investment of the accumulated fund (only in risk free assets) and, (b) allowing the investment in risky assets. It is noted that a conservative attitude towards the choice of the interest rate, that is, the preference for a lower interest rate, approximates the simulated and the expected results. It is also noted that the accumulated capital investment in risk asset contributes, in general, for the improvement of the final results, in the simulated plans and scenarios.A incerteza sobre qual o valor da renda para o período pós-aposentadoria pode levar o indivíduo a constituir um plano de acumulação de capital com o intuito de garantir antecipadamente a existência e o nível da mesma. Esse estudo se propõe a analisar alguns modelos atuariais utilizados para o cálculo do valor a ser poupado para a geração da renda na fase da aposentadoria. Nos modelos apresentados, o indivíduo escolhe o tipo de contribuição e a taxa de juro. A partir dessas premissas, calcula-se o valor a ser poupado a partir do valor da renda desejada. Para calcular a probabilidade de ocorrência do valor da renda esperada, cada plano é simulado em dois cenários distintos para uma determinada idade, contemplando, também, a aplicação do fundo acumulado somente em ativos livres de risco e, numa segunda etapa, permitindo o investimento em ativos com risco. Observa-se que uma atitude conservadora em relação à escolha da taxa de juro, ou seja, a preferência por uma taxa de juro menor, apresenta um melhor resultado do que a opção por uma taxa maior e, também, que a aplicação do capital acumulado em ativos de risco contribui, em geral, para a melhoria dos resultados obtidos nos planos simulados. A matemática atuarial é a ferramenta utilizada para o desenvolvimento dos modelos.UFRGS2009-11-05info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionAvaliado por Paresapplication/pdfhttps://seer.ufrgs.br/index.php/ConTexto/article/view/11258ConTexto - Contabilidade em Texto; v. 5 n. 8 (2005): 2º semestre 20052175-87511676-6016reponame:ConTextoinstname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/ConTexto/article/view/11258/6654Garcia, Andréia Cristina DiasKloeckner, Gilberto de Oliveirainfo:eu-repo/semantics/openAccess2009-11-05T18:46:46Zoai:seer.ufrgs.br:article/11258Revistahttps://www.seer.ufrgs.br/index.php/ConTexto/indexPUBhttpw://www.seer.ufrgs.br/index.php/ConTexto/oaifernanda.momo@ufrgs.br||contexto@ufrgs.br2175-87511676-6016opendoar:2009-11-05T18:46:46ConTexto - Universidade Federal do Rio Grande do Sul (UFRGS)false |
dc.title.none.fl_str_mv |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME PLANEJAMENTO FINANCEIRO PESSOAL: UM ESTUDO SOBRE A RENDA PÓS-APOSENTADORIA |
title |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME |
spellingShingle |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME Garcia, Andréia Cristina Dias Post retirement income. Actuarial model. Financial investment. Interest rate. Renda pós-aposentadoria. Modelo atuarial. Investimento financeiro. Taxa de juro. |
title_short |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME |
title_full |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME |
title_fullStr |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME |
title_full_unstemmed |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME |
title_sort |
PERSONAL FINANCIAL PLANNING: A STUDY ON POST RETIREMENT INCOME |
author |
Garcia, Andréia Cristina Dias |
author_facet |
Garcia, Andréia Cristina Dias Kloeckner, Gilberto de Oliveira |
author_role |
author |
author2 |
Kloeckner, Gilberto de Oliveira |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Garcia, Andréia Cristina Dias Kloeckner, Gilberto de Oliveira |
dc.subject.por.fl_str_mv |
Post retirement income. Actuarial model. Financial investment. Interest rate. Renda pós-aposentadoria. Modelo atuarial. Investimento financeiro. Taxa de juro. |
topic |
Post retirement income. Actuarial model. Financial investment. Interest rate. Renda pós-aposentadoria. Modelo atuarial. Investimento financeiro. Taxa de juro. |
description |
The uncertainty about the amount of income for the retirement stage may lead na individual to implement a capital accumulation plan in order to guarantee beforehand the desired income. This study approaches a series of factors that influence this decision making process: the person’s income, his or her attitude towards consuming and saving, and the investment possibilities in the financial markets. The study also aims at analyzing the actuarial models used to calculate the amount to be saved so as to generate income at the retirement stage. In the models that are presented, the individual chooses the type of contribution, the type of income and the rate of interest. Based upon these premises, the amount to be saved is calculated, bearing in mind the expected income. In order to calculate the probability of the occurrence of the expected income, each plan is simulated in two different scenarios: (a) for a specific age, also taking into account the investment of the accumulated fund (only in risk free assets) and, (b) allowing the investment in risky assets. It is noted that a conservative attitude towards the choice of the interest rate, that is, the preference for a lower interest rate, approximates the simulated and the expected results. It is also noted that the accumulated capital investment in risk asset contributes, in general, for the improvement of the final results, in the simulated plans and scenarios. |
publishDate |
2009 |
dc.date.none.fl_str_mv |
2009-11-05 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Avaliado por Pares |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://seer.ufrgs.br/index.php/ConTexto/article/view/11258 |
url |
https://seer.ufrgs.br/index.php/ConTexto/article/view/11258 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://seer.ufrgs.br/index.php/ConTexto/article/view/11258/6654 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
UFRGS |
publisher.none.fl_str_mv |
UFRGS |
dc.source.none.fl_str_mv |
ConTexto - Contabilidade em Texto; v. 5 n. 8 (2005): 2º semestre 2005 2175-8751 1676-6016 reponame:ConTexto instname:Universidade Federal do Rio Grande do Sul (UFRGS) instacron:UFRGS |
instname_str |
Universidade Federal do Rio Grande do Sul (UFRGS) |
instacron_str |
UFRGS |
institution |
UFRGS |
reponame_str |
ConTexto |
collection |
ConTexto |
repository.name.fl_str_mv |
ConTexto - Universidade Federal do Rio Grande do Sul (UFRGS) |
repository.mail.fl_str_mv |
fernanda.momo@ufrgs.br||contexto@ufrgs.br |
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