Asset Location in Tax-Deferred and Conventional Savings Accounts

John B. Shoven and Clemens Sialm

No 7192, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The optimal allocation of assets among different asset classes (such as stocks and bonds) has received considerable attention in financial theory and practice. On the other hand, investors have not been given much guidance about which assets should be located in tax-deferred retirement accounts and which in conventional savings accounts. This paper derives optimal asset allocations (which assets to hold) and asset locations (where to hold them) for a risk-averse investor saving for retirement. Locating assets optimally can significantly improve the risk-adjusted performance of retirement savings.

JEL-codes: G11 G23 (search for similar items in EconPapers)
Date: 1999-06
New Economics Papers: this item is included in nep-fin
Note: AG AP PE
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Citations: View citations in EconPapers (6)

Published as Shoven, John B. and Clemens Sialm. "Asset Location In Tax-Deferred And Conventional Savings Accounts," Journal of Public Economics, 2004, v88(1-2,Jan), 23-38.

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Journal Article: Asset location in tax-deferred and conventional savings accounts (2004)
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