Retirees Can Take More Risk
44:27–45:42 · 74s
Counterintuitively, Patrick explains why retirees may optimally hold a higher equity share than working adults: retiree income is steadier, while workers’ human capital behaves like a risky stock.
44:27–45:42 · 74s
Counterintuitively, Patrick explains why retirees may optimally hold a higher equity share than working adults: retiree income is steadier, while workers’ human capital behaves like a risky stock.
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