This open access book introduces the modern tontine and its applications in retirement and decumulation. Personal financial management in the later stages of li

This open access book introduces the modern tontine and its applications in retirement and decumulation. Personal financial management in the later stages of li

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, corp

From the last decades of the seventeenth century until the beginning of the twentieth, the tontine, in one form or another, was a ubiquitous financial instrumen