SYSTEMS AND METHODS FOR CONVEX-OPTIMIZATION BASED DECUMULATION COMPUTATION
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United States of America Patent
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Issued Date -
Dec 22, 2022
app pub date -
Dec 29, 2021
filing date -
Dec 29, 2021
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Abstract
Embodiments described herein provide a timeline-based decumulation management mechanism for wealth management in retirement. The mechanism incorporates a plurality of factors and constraints including a desired consumption and bequeath, investment in qualified and nonqualified accounts, account disbursement and conversion rules, income and capital gains taxes, tracking of tax lots, estate tax rules such as basis step-up, Social Security, pensions, real estate, mortgages, SPIA and deferred income annuities, term life insurance, and alternatives. Specifically, the mechanism translates various account information into one or more convex constraints over a consumption variable, an income variable, a taxable income variable, and a bequest variable at the current year. Subject to these convex constraints, the mechanism is able to formulate a convex optimization problem that maximizes a utility representing the lifetime expectation of assets.
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