Roger G. Ibbotson discusses how a unified asset allocation framework that recognizes the risk and return characteristics of human capital enables individual investors to make better-informed investment decisions and how portfolio and insurance mixes can be modeled to change with the investor’s age, income, savings rates, financial wealth, risk aversion, and nature of employment.. He provides an asset allocation framework incorporating factors unique to the individual (such as income and retirement date) along with capital market assumptions to select optimal stock, bond, life insurance, and payout annuity portfolios throughout the individual’s lifetime. Please note that text may be difficult to read in this recording. The presentation slides are available for download in the video player.