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Forced Retirement Risk and Portfolio Choice

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NPH Member Webinar

Professor Minjoon Lee will discuss his paper on the implications of forced retirement risk on the optimal portfolio choice around retirement. His paper finds that older workers in Canada and the U.S. face a significant risk of being forced to retire before their planned retirement ages. His paper demonstrates that, under forced retirement risk, the optimal portfolio adjustment is to increase the share of risky assets as one gets older and enters retirement, opposite to what is commonly believed.


Minjoon Lee

Minjoon Lee is an assistant professor of Economics at Carleton University. His main field of research is macroeconomics and household finance. His research topics include aging, retirement, and optimal portfolio choice. He received his Ph.D. from the University of Michigan and M.A. and B.A. from Korea University.

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