%0 Journal Article %A Robert D. Arnott %A Katrina F. Sherrerd %A Lillian Wu %T The Glidepath Illusion… and Potential Solutions %D 2013 %R 10.3905/jor.2013.1.2.013 %J The Journal of Retirement %P 13-28 %V 1 %N 2 %X Target-date investment strategies purport to meet the two primary objectives of any retirement savings program: maximizing the real value of investors’ nest eggs while minimizing uncertainty around prospective income in retirement. The authors demonstrate that the classic glidepath approach to retirement investing—moving from equity-centric to bond-centric investing as we age—does not meet these objectives.The authors summarize the flaws in traditional glidepath implementation and explore illustrative changes to the rules-based, mechanistic solution for retirement planning that can improve the expected outcome for investors, using simulations to test alternatives. Their findings show that, even with simple rules-based approaches, there are better ways to achieve our financial objectives for retirement.TOPICS: Risk management, retirement, wealth management %U https://jor.pm-research.com/content/iijretire/1/2/13.full.pdf