Why the Retirement Annuity of the Future Should Resemble its Past
by
Moshe A. Milevsky
Language: English
Release Date: April 13, 2015
In a time before bonds, treasury notes, or central banks, there were tontines. These were schemes in which a group of investors lent money to a government, corporation, or king, similar to a modern-day loan syndicate. But unlike conventional debt, periodic interest payments were distributed only to...