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HARI: Characteristics of a new defined lifestyle (DL) retirement planning product

Rama Malladi ()
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Rama Malladi: California State University Dominguez Hills

Journal of Financial Services Marketing, 2022, vol. 27, issue 2, No 6, 147-163

Abstract: Abstract Approximately 16% of the world's population lives in countries with some concept of a financial retirement plan. Of the remaining population, many do not have access to a Western-style retirement system, and the concept of Dharma subliminally influences them. Dharma, an Eastern philosophical system, recommends Sanyasa (renunciation), instead of comfortable retirement life, as a life goal. This paper proposes a new defined lifestyle retirement planning instrument, referred to as Holistic Annual Retirement Investment (HARI), a standardized, tradable, futures contract that can alter the way individuals think of and plan for their retirement according to their belief system. HARI is a hypothetical product based on the Eastern value system and needs improvement ideas from other researchers. So, the reader is urged to be imaginative and forgiving.

Keywords: Defined lifestyle; Dharmic finance; Socially responsible investing; SRI; Retirement planning; Financial planning (search for similar items in EconPapers)
JEL-codes: D31 E21 P36 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1057/s41264-021-00108-x

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