50 States of Gray: An Innovative Solution to the Defined Contribution Retirement Crisis is the newest book published by the Investments & Wealth Institute. Written in partnership with the Institute and Arun Muralidhar, Ph.D., founder, M cube Investment Technologies, LLC, and founder, chairman, and chief investment officer, AlphaEngine Global Investment Solutions, this work offers fresh solutions for solving the defined contribution retirement crisis. With an interesting forward from the 1997 Nobel Memorial Prize in Economic Sciences recipient Robert Merton and editing by Debbie Nochlin, managing editor, Investments & Wealth Institute, 50 States of Gray is worth adding to your summer reading list.
By offering a practical and innovative four-step reform process that clearly articulates roles, responsibilities, and a sequencing of steps, Muralidhar argues that current reform models potentially expose participants to costly, error-prone, and illiquid alternatives, which could transfer wealth from poor citizens to rich asset managers, and from poor minority citizens to rich, majority populations.
As many wealth management professionals understand all too well, retirement planning presents several challenges associated with saving, investing, and decumulation. Therefore, any suggested solution must meet these challenges head-on.
Muralidhar provides an innovative Flex MMM reform model that reflects the goals of numerous stakeholders, including, states, employers, employees, asset managers, and regulators, by showing steps federal and state governments could take to alleviate the guesswork and insecurity involved in the retirement saving process. Muralidhar also demonstrates that the lynchpin for retirement security globally is an innovative new retirement bond (called “SeLFIES”) he has jointly developed with Merton that governments could easily issue.
“I applaud Arun Muralidhar for the timely arrival of 50 States of Gray,” Merton writes in the book’s forward, “offering us practical innovative solutions for addressing retirement funding, based on the solid foundation of finance principles, which are applicable globally.”
“With more than 76 million baby boomers in the U.S. set to retire or already in retirement, this book provides a timely and excellent contribution to the current retirement body of knowledge,” added Sean Walters, CAE, chief executive officer and executive director, Investments & Wealth Institute. “We’re delighted to publish this work and offer it to financial professionals as part of the mission of the Institute to provide advanced education and credentials.”
Worth a read this summer, 50 States of Gray is available through this order form or by visiting the Investments & Wealth Institute online store.