Skip to main content

Main menu

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JWM
    • Editorial Board
    • Published Ahead of Print (PAP)
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • LinkedIn
  • Twitter

User menu

  • Sample our Content
  • Subscribe Now
  • Log in

Search

  • Advanced search
The Journal of Wealth Management
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Sample our Content
  • Subscribe Now
  • Log in
The Journal of Wealth Management

The Journal of Wealth Management

Advanced Search

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JWM
    • Editorial Board
    • Published Ahead of Print (PAP)
  • LinkedIn
  • Twitter
Article

The Impact of Uncertain Commitments

Jarrod W Wilcox
The Journal of Wealth Management Winter 2008, 11 (3) 40-47; DOI: https://doi.org/10.3905/jwm.2008.11.3.040
Jarrod W Wilcox
is president of Wilcox Investment Inc in Newton, MA. jwilcox@wilcoxinvest.com
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: jwilcox@wilcoxinvest.com
  • Article
  • Info & Metrics
  • PDF
Loading

Click to login and read the full article.
Don’t have access? Sign up today to begin your trial of the PMR platform 

Abstract

Integrated wealth management implies individualized risk control. The discretionary wealth approach is used to calculate a better risk-aversion relationship for trade-offs between expected return and risk based on the investor’s extended balance sheet, inclusive of present values of future financial commitments. We can improve it by taking into account the uncertainty with which the particular investor’s discretionary wealth is estimated. Present values of retirement spending, taxes on unrealized capital gains and estates, and potential bequests and charitable contributions may be more usefully regarded as probability distributions than as point estimates. An example shows how uncertain future lifespan results in a more conservative portfolio, reducing in this case the optimal stock allocation from 80% to 73% to 64% as we make successive improvements in analysis.

  • © 2008 Pageant Media Ltd
View Full Text

Don’t have access? Register today to begin unrestricted access to our database of research.

Log in using your username and password

Forgot your user name or password?
PreviousNext
Back to top

Explore our content to discover more relevant research

  • By topic
  • Across journals
  • From the experts
  • Monthly highlights
  • Special collections

In this issue

The Journal of Wealth Management
Vol. 11, Issue 3
Winter 2008
  • Table of Contents
  • Index by author
Print
Download PDF
Article Alerts
Sign In to Email Alerts with your Email Address
Email Article

Thank you for your interest in spreading the word on The Journal of Wealth Management.

NOTE: We only request your email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. We do not capture any email address.

Enter multiple addresses on separate lines or separate them with commas.
The Impact of Uncertain Commitments
(Your Name) has sent you a message from The Journal of Wealth Management
(Your Name) thought you would like to see the The Journal of Wealth Management web site.
Citation Tools
The Impact of Uncertain Commitments
Jarrod W Wilcox
The Journal of Wealth Management Oct 2008, 11 (3) 40-47; DOI: 10.3905/jwm.2008.11.3.040

Citation Manager Formats

  • BibTeX
  • Bookends
  • EasyBib
  • EndNote (tagged)
  • EndNote 8 (xml)
  • Medlars
  • Mendeley
  • Papers
  • RefWorks Tagged
  • Ref Manager
  • RIS
  • Zotero
Save To My Folders
Share
The Impact of Uncertain Commitments
Jarrod W Wilcox
The Journal of Wealth Management Oct 2008, 11 (3) 40-47; DOI: 10.3905/jwm.2008.11.3.040
del.icio.us logo Digg logo Reddit logo Twitter logo CiteULike logo Facebook logo Google logo LinkedIn logo Mendeley logo
Tweet Widget Facebook Like LinkedIn logo

Jump to section

  • Article
    • Abstract
    • DETERMINING RISK AVERSION NEEDS WITH POINT ESTIMATES
    • DECISIONS BASED ON PROBABILITY DISTRIBUTIONS
    • EXAMPLE BASED ON UNCERTAIN LIFESPAN
    • CONCLUSION
    • REFERENCES
  • Info & Metrics
  • PDF

Similar Articles

Cited By...

  • The Influence of a Family Business * on Portfolio Management: An Asset-Liability Management Approach
  • Perspectives from the Literature of Private Wealth Management
  • Scopus (3)
  • Google Scholar

More in this TOC Section

  • Editor’s Letter
  • Editor’s Letter
  • Smart Beta and Statistical Significance
Show more Article
LONDON
One London Wall, London, EC2Y 5EA
United Kingdom
+44 207 139 1600
 
NEW YORK
41 Madison Avenue, New York, NY 10010
USA
+1 646 931 9045
pm-research@pageantmedia.com
 

Stay Connected

  • LinkedIn
  • Twitter

MORE FROM PMR

  • Home
  • Awards
  • Investment Guides
  • Videos
  • About PMR

INFORMATION FOR

  • Academics
  • Agents
  • Authors
  • Content Usage Terms

GET INVOLVED

  • Advertise
  • Publish
  • Article Licensing
  • Contact Us
  • Subscribe Now
  • Log In
  • Update your profile
  • Give us your feedback

© 2019 Pageant Media Ltd | All Rights Reserved | ISSN: 1534-7524 | E-ISSN: 2374-1368

  • Site Map
  • Terms & Conditions
  • Cookies
  • Privacy Policy