A Stochastic Control Approach to Defined Contribution Plan Decumulation - The Nastiest, Hardest Problem in Finance

Explore a comprehensive lecture on the complex issue of defined contribution plan decumulation, dubbed "The Nastiest, Hardest Problem in Finance." Delivered by Peter Forsyth from the Cheriton School of Computer Science at the University of Waterloo, this 53-minute talk delves into stochastic control approaches to tackle this challenging financial problem. As part of the Fields CFI Workshop on Quantitative Methods for Wealth Management, the lecture provides valuable insights for those interested in advanced financial planning and wealth management strategies. Gain a deeper understanding of the intricacies involved in managing retirement savings and the mathematical models used to optimize decumulation strategies in defined contribution plans.