Retirement Risk, Rising Equity Glide Paths, and Valuation-Based Asset Allocation
This study explores the interaction of two research threads relating to asset allocation in retirement: whether the optimal equity glide path should rise or fall throughout retirement (and at what pace those changes should occur), and/or whether retirement asset allocation should move up and down dynamically in response to stock market valuation extremes.
Pfau, Wade, "Retirement Risk, Rising Equity Glide Paths, and Valuation-Based Asset Allocation" (2015). Faculty Publications. 39.