id	sid	tid	token	lemma	pos
fsr-3132	1	1	saving	save	VERB
fsr-3132	1	2	for	for	ADP
fsr-3132	1	3	retirement	retirement	NOUN
fsr-3132	1	4	while	while	SCONJ
fsr-3132	1	5	having	have	VERB
fsr-3132	1	6	more	more	ADJ
fsr-3132	1	7	nights	night	NOUN
fsr-3132	1	8	with	with	ADP
fsr-3132	1	9	peaceful	peaceful	ADJ
fsr-3132	1	10	sleep	sleep	NOUN
fsr-3132	1	11	:	:	PUNCT
fsr-3132	1	12	comparison	comparison	NOUN
fsr-3132	1	13	of	of	ADP
fsr-3132	1	14	lifecycle	lifecycle	NOUN
fsr-3132	1	15	and	and	CCONJ
fsr-3132	1	16	lifestyle	lifestyle	NOUN
fsr-3132	1	17	strategies	strategy	NOUN
fsr-3132	1	18	from	from	ADP
fsr-3132	1	19	expected	expect	VERB
fsr-3132	1	20	utility	utility	NOUN
fsr-3132	1	21	perspective	perspective	NOUN
fsr-3132	1	22	rosita	rosita	PROPN
fsr-3132	1	23	p.	p.	PROPN
fsr-3132	1	24	changa	changa	PROPN
fsr-3132	1	25	,	,	PUNCT
fsr-3132	1	26	david	david	PROPN
fsr-3132	1	27	huntera	huntera	PROPN
fsr-3132	1	28	,	,	PUNCT
fsr-3132	1	29	qianqiu	qianqiu	ADJ
fsr-3132	1	30	liua	liua	NOUN
fsr-3132	1	31	,	,	PUNCT
fsr-3132	1	32	*	*	PUNCT
fsr-3132	1	33	,	,	PUNCT
fsr-3132	1	34	helen	helen	PROPN
fsr-3132	1	35	saarb	saarb	PROPN
fsr-3132	1	36	ashidler	ashidler	PROPN
fsr-3132	1	37	college	college	PROPN
fsr-3132	1	38	of	of	ADP
fsr-3132	1	39	business	business	NOUN
fsr-3132	1	40	,	,	PUNCT
fsr-3132	1	41	university	university	NOUN
fsr-3132	1	42	of	of	ADP
fsr-3132	1	43	hawaii	hawaii	PROPN
fsr-3132	1	44	at	at	ADP
fsr-3132	1	45	manoa	manoa	PROPN
fsr-3132	1	46	,	,	PUNCT
fsr-3132	1	47	2404	2404	NUM
fsr-3132	1	48	maile	maile	ADJ
fsr-3132	1	49	way	way	NOUN
fsr-3132	1	50	,	,	PUNCT
fsr-3132	1	51	honolulu	honolulu	PROPN
fsr-3132	1	52	,	,	PUNCT
fsr-3132	1	53	hi	hi	INTJ
fsr-3132	1	54	96822	96822	NUM
fsr-3132	1	55	,	,	PUNCT
fsr-3132	1	56	usa	usa	PROPN
fsr-3132	1	57	budvar	budvar	PROPN
fsr-3132	1	58	-	-	PUNCT
fsr-3132	1	59	hazy	hazy	ADJ
fsr-3132	1	60	school	school	NOUN
fsr-3132	1	61	of	of	ADP
fsr-3132	1	62	business	business	NOUN
fsr-3132	1	63	,	,	PUNCT
fsr-3132	1	64	dixie	dixie	PROPN
fsr-3132	1	65	state	state	PROPN
fsr-3132	1	66	university	university	PROPN
fsr-3132	1	67	,	,	PUNCT
fsr-3132	1	68	225	225	NUM
fsr-3132	1	69	south	south	NOUN
fsr-3132	1	70	700	700	NUM
fsr-3132	1	71	east	east	NOUN
fsr-3132	1	72	,	,	PUNCT
fsr-3132	1	73	st	st	PROPN
fsr-3132	1	74	.	.	PROPN
fsr-3132	1	75	george	george	PROPN
fsr-3132	1	76	,	,	PUNCT
fsr-3132	1	77	ut	ut	PROPN
fsr-3132	1	78	84770	84770	NUM
fsr-3132	1	79	,	,	PUNCT
fsr-3132	1	80	usa	usa	PROPN
fsr-3132	1	81	abstract	abstract	NOUN
fsr-3132	1	82	we	we	PRON
fsr-3132	1	83	evaluate	evaluate	VERB
fsr-3132	1	84	the	the	DET
fsr-3132	1	85	fit	fit	NOUN
fsr-3132	1	86	of	of	ADP
fsr-3132	1	87	target	target	NOUN
fsr-3132	1	88	-	-	PUNCT
fsr-3132	1	89	date	date	NOUN
fsr-3132	1	90	funds	fund	NOUN
fsr-3132	1	91	(	(	PUNCT
fsr-3132	1	92	tdfs	tdfs	ADJ
fsr-3132	1	93	)	)	PUNCT
fsr-3132	1	94	as	as	ADP
fsr-3132	1	95	the	the	DET
fsr-3132	1	96	main	main	ADJ
fsr-3132	1	97	retirement	retirement	NOUN
fsr-3132	1	98	savings	saving	NOUN
fsr-3132	1	99	instrument	instrument	NOUN
fsr-3132	1	100	for	for	ADP
fsr-3132	1	101	the	the	DET
fsr-3132	1	102	utility	utility	NOUN
fsr-3132	1	103	-	-	PUNCT
fsr-3132	1	104	maximizing	maximize	VERB
fsr-3132	1	105	investor	investor	NOUN
fsr-3132	1	106	who	who	PRON
fsr-3132	1	107	becomes	become	VERB
fsr-3132	1	108	more	more	ADJ
fsr-3132	1	109	risk	risk	NOUN
fsr-3132	1	110	averse	averse	ADJ
fsr-3132	1	111	as	as	SCONJ
fsr-3132	1	112	she	she	PRON
fsr-3132	1	113	gets	get	VERB
fsr-3132	1	114	older	old	ADJ
fsr-3132	1	115	.	.	PUNCT
fsr-3132	2	1	using	use	VERB
fsr-3132	2	2	bootstrapping	bootstrappe	VERB
fsr-3132	2	3	simulations	simulation	NOUN
fsr-3132	2	4	,	,	PUNCT
fsr-3132	2	5	we	we	PRON
fsr-3132	2	6	show	show	VERB
fsr-3132	2	7	that	that	SCONJ
fsr-3132	2	8	tdfs	tdfs	NOUN
fsr-3132	2	9	can	can	AUX
fsr-3132	2	10	provide	provide	VERB
fsr-3132	2	11	higher	high	ADJ
fsr-3132	2	12	expected	expect	VERB
fsr-3132	2	13	utility	utility	NOUN
fsr-3132	2	14	than	than	ADP
fsr-3132	2	15	the	the	DET
fsr-3132	2	16	alternative	alternative	ADJ
fsr-3132	2	17	lifestyle	lifestyle	NOUN
fsr-3132	2	18	strategies	strategy	NOUN
fsr-3132	2	19	.	.	PUNCT
fsr-3132	3	1	with	with	ADP
fsr-3132	3	2	loss	loss	NOUN
fsr-3132	3	3	aversion	aversion	NOUN
fsr-3132	3	4	incorporated	incorporate	VERB
fsr-3132	3	5	in	in	ADP
fsr-3132	3	6	the	the	DET
fsr-3132	3	7	model	model	NOUN
fsr-3132	3	8	,	,	PUNCT
fsr-3132	3	9	we	we	PRON
fsr-3132	3	10	still	still	ADV
fsr-3132	3	11	find	find	VERB
fsr-3132	3	12	that	that	SCONJ
fsr-3132	3	13	the	the	DET
fsr-3132	3	14	optimal	optimal	ADJ
fsr-3132	3	15	lifecycle	lifecycle	NOUN
fsr-3132	3	16	strategy	strategy	NOUN
fsr-3132	3	17	over	over	ADP
fsr-3132	3	18	time	time	NOUN
fsr-3132	3	19	leads	lead	VERB
fsr-3132	3	20	to	to	ADP
fsr-3132	3	21	higher	high	ADJ
fsr-3132	3	22	expected	expect	VERB
fsr-3132	3	23	utility	utility	NOUN
fsr-3132	3	24	than	than	ADP
fsr-3132	3	25	the	the	DET
fsr-3132	3	26	best	good	ADJ
fsr-3132	3	27	lifestyle	lifestyle	NOUN
fsr-3132	3	28	strategy	strategy	NOUN
fsr-3132	3	29	.	.	PUNCT
fsr-3132	4	1	therefore	therefore	ADV
fsr-3132	4	2	,	,	PUNCT
fsr-3132	4	3	tdfs	tdfs	NOUN
fsr-3132	4	4	are	be	AUX
fsr-3132	4	5	preferable	preferable	ADJ
fsr-3132	4	6	to	to	ADP
fsr-3132	4	7	the	the	DET
fsr-3132	4	8	utility	utility	NOUN
fsr-3132	4	9	-	-	PUNCT
fsr-3132	4	10	maximizing	maximize	VERB
fsr-3132	4	11	investor	investor	NOUN
fsr-3132	4	12	.	.	PUNCT
fsr-3132	5	1	however	however	ADV
fsr-3132	5	2	,	,	PUNCT
fsr-3132	5	3	lifecycle	lifecycle	NOUN
fsr-3132	5	4	strategies	strategy	NOUN
fsr-3132	5	5	are	be	AUX
fsr-3132	5	6	not	not	PART
fsr-3132	5	7	one	one	NUM
fsr-3132	5	8	-	-	PUNCT
fsr-3132	5	9	size	size	NOUN
fsr-3132	5	10	-	-	PUNCT
fsr-3132	5	11	fits	fit	VERB
fsr-3132	5	12	-	-	PUNCT
fsr-3132	5	13	all	all	PRON
fsr-3132	5	14	solution	solution	NOUN
fsr-3132	5	15	and	and	CCONJ
fsr-3132	5	16	investor	investor	NOUN
fsr-3132	5	17	’s	’s	PART
fsr-3132	5	18	risk	risk	NOUN
fsr-3132	5	19	tolerance	tolerance	NOUN
fsr-3132	5	20	has	have	VERB
fsr-3132	5	21	to	to	PART
fsr-3132	5	22	be	be	AUX
fsr-3132	5	23	considered	consider	VERB
fsr-3132	5	24	when	when	SCONJ
fsr-3132	5	25	selecting	select	VERB
fsr-3132	5	26	tdf	tdf	NOUN
fsr-3132	5	27	funds	fund	NOUN
fsr-3132	5	28	.	.	PUNCT
fsr-3132	6	1	©	©	PROPN
fsr-3132	6	2	2014	2014	NUM
fsr-3132	6	3	academy	academy	NOUN
fsr-3132	6	4	of	of	ADP
fsr-3132	6	5	financial	financial	ADJ
fsr-3132	6	6	services	service	NOUN
fsr-3132	6	7	.	.	PUNCT
fsr-3132	7	1	all	all	DET
fsr-3132	7	2	rights	right	NOUN
fsr-3132	7	3	reserved	reserve	VERB
fsr-3132	7	4	.	.	PUNCT
fsr-3132	8	1	jel	jel	PROPN
fsr-3132	8	2	classification	classification	NOUN
fsr-3132	8	3	:	:	PUNCT
fsr-3132	8	4	g11	g11	PROPN
fsr-3132	8	5	;	;	PUNCT
fsr-3132	8	6	g23	g23	NOUN
fsr-3132	8	7	;	;	PUNCT
fsr-3132	8	8	d14	d14	NOUN
fsr-3132	8	9	keywords	keyword	NOUN
fsr-3132	8	10	:	:	PUNCT
fsr-3132	8	11	target	target	NOUN
fsr-3132	8	12	-	-	PUNCT
fsr-3132	8	13	date	date	NOUN
fsr-3132	8	14	funds	fund	NOUN
fsr-3132	8	15	;	;	PUNCT
fsr-3132	8	16	life	life	NOUN
fsr-3132	8	17	cycle	cycle	NOUN
fsr-3132	8	18	investing	investing	NOUN
fsr-3132	8	19	;	;	PUNCT
fsr-3132	9	1	retirement	retirement	NOUN
fsr-3132	9	2	saving	save	VERB
fsr-3132	9	3	1	1	NUM
fsr-3132	9	4	.	.	PUNCT
fsr-3132	9	5	introduction	introduction	NOUN
fsr-3132	9	6	since	since	SCONJ
fsr-3132	9	7	being	be	AUX
fsr-3132	9	8	endorsed	endorse	VERB
fsr-3132	9	9	by	by	ADP
fsr-3132	9	10	the	the	DET
fsr-3132	9	11	department	department	PROPN
fsr-3132	9	12	of	of	ADP
fsr-3132	9	13	labor	labor	NOUN
fsr-3132	9	14	,	,	PUNCT
fsr-3132	9	15	target	target	NOUN
fsr-3132	9	16	-	-	PUNCT
fsr-3132	9	17	date	date	NOUN
fsr-3132	9	18	funds	fund	NOUN
fsr-3132	9	19	(	(	PUNCT
fsr-3132	9	20	tdfs	tdfs	ADV
fsr-3132	9	21	)	)	PUNCT
fsr-3132	9	22	have	have	AUX
fsr-3132	9	23	grown	grow	VERB
fsr-3132	9	24	in	in	ADP
fsr-3132	9	25	both	both	DET
fsr-3132	9	26	size	size	NOUN
fsr-3132	9	27	and	and	CCONJ
fsr-3132	9	28	popularity.1	popularity.1	NOUN
fsr-3132	9	29	according	accord	VERB
fsr-3132	9	30	to	to	ADP
fsr-3132	9	31	the	the	DET
fsr-3132	9	32	investment	investment	NOUN
fsr-3132	9	33	company	company	NOUN
fsr-3132	9	34	institute	institute	NOUN
fsr-3132	9	35	(	(	PUNCT
fsr-3132	9	36	2013	2013	NUM
fsr-3132	9	37	)	)	PUNCT
fsr-3132	9	38	,	,	PUNCT
fsr-3132	9	39	at	at	ADP
fsr-3132	9	40	the	the	DET
fsr-3132	9	41	end	end	NOUN
fsr-3132	9	42	of	of	ADP
fsr-3132	9	43	2012	2012	NUM
fsr-3132	9	44	the	the	DET
fsr-3132	9	45	total	total	ADJ
fsr-3132	9	46	assets	asset	NOUN
fsr-3132	9	47	of	of	ADP
fsr-3132	9	48	tdfs	tdfs	NOUN
fsr-3132	9	49	were	be	AUX
fsr-3132	9	50	$	$	SYM
fsr-3132	9	51	481	481	NUM
fsr-3132	9	52	billion	billion	NUM
fsr-3132	9	53	,	,	PUNCT
fsr-3132	9	54	which	which	PRON
fsr-3132	9	55	is	be	AUX
fsr-3132	9	56	about	about	ADV
fsr-3132	9	57	9.5	9.5	NUM
fsr-3132	9	58	%	%	NOUN
fsr-3132	9	59	of	of	ADP
fsr-3132	9	60	the	the	DET
fsr-3132	9	61	total	total	ADJ
fsr-3132	9	62	assets	asset	NOUN
fsr-3132	9	63	of	of	ADP
fsr-3132	9	64	defined	define	VERB
fsr-3132	9	65	contribution	contribution	NOUN
fsr-3132	9	66	plans	plan	NOUN
fsr-3132	9	67	.	.	PUNCT
fsr-3132	10	1	this	this	PRON
fsr-3132	10	2	represents	represent	VERB
fsr-3132	10	3	a	a	DET
fsr-3132	10	4	significant	significant	ADJ
fsr-3132	10	5	increase	increase	NOUN
fsr-3132	10	6	since	since	SCONJ
fsr-3132	10	7	2007	2007	NUM
fsr-3132	10	8	,	,	PUNCT
fsr-3132	10	9	when	when	SCONJ
fsr-3132	10	10	tdfs	tdf	VERB
fsr-3132	10	11	only	only	ADV
fsr-3132	10	12	had	have	VERB
fsr-3132	10	13	a	a	DET
fsr-3132	10	14	4.2	4.2	NUM
fsr-3132	10	15	%	%	NOUN
fsr-3132	10	16	share	share	NOUN
fsr-3132	10	17	of	of	ADP
fsr-3132	10	18	defined	define	VERB
fsr-3132	10	19	contribution	contribution	NOUN
fsr-3132	10	20	plans	plan	NOUN
fsr-3132	10	21	.	.	PUNCT
fsr-3132	11	1	with	with	ADP
fsr-3132	11	2	this	this	DET
fsr-3132	11	3	growing	grow	VERB
fsr-3132	11	4	market	market	NOUN
fsr-3132	11	5	share	share	NOUN
fsr-3132	11	6	,	,	PUNCT
fsr-3132	11	7	it	it	PRON
fsr-3132	11	8	is	be	AUX
fsr-3132	11	9	*	*	PUNCT
fsr-3132	11	10	corresponding	correspond	VERB
fsr-3132	11	11	author	author	NOUN
fsr-3132	11	12	.	.	PUNCT
fsr-3132	12	1	tel	tel	PROPN
fsr-3132	12	2	.	.	PUNCT
fsr-3132	12	3	:	:	PUNCT
fsr-3132	13	1	�	�	PROPN
fsr-3132	13	2	1	1	NUM
fsr-3132	13	3	-	-	SYM
fsr-3132	13	4	808	808	NUM
fsr-3132	13	5	-	-	PUNCT
fsr-3132	13	6	956	956	NUM
fsr-3132	13	7	-	-	PUNCT
fsr-3132	13	8	8736	8736	NUM
fsr-3132	13	9	;	;	PUNCT
fsr-3132	13	10	fax	fax	NOUN
fsr-3132	13	11	:	:	PUNCT
fsr-3132	13	12	�	�	PROPN
fsr-3132	13	13	1	1	NUM
fsr-3132	13	14	-	-	SYM
fsr-3132	13	15	808	808	NUM
fsr-3132	13	16	-	-	PUNCT
fsr-3132	13	17	956	956	NUM
fsr-3132	13	18	-	-	PUNCT
fsr-3132	13	19	9887	9887	NUM
fsr-3132	13	20	.	.	PUNCT
fsr-3132	14	1	e	e	X
fsr-3132	14	2	-	-	NOUN
fsr-3132	14	3	mail	mail	NOUN
fsr-3132	14	4	address	address	NOUN
fsr-3132	14	5	:	:	PUNCT
fsr-3132	14	6	qianqiu@hawaii.edu	qianqiu@hawaii.edu	INTJ
fsr-3132	14	7	(	(	PUNCT
fsr-3132	14	8	q.	q.	PROPN
fsr-3132	14	9	liu	liu	PROPN
fsr-3132	14	10	)	)	PUNCT
fsr-3132	14	11	financial	financial	ADJ
fsr-3132	14	12	services	service	NOUN
fsr-3132	14	13	review	review	VERB
fsr-3132	14	14	23	23	NUM
fsr-3132	14	15	(	(	PUNCT
fsr-3132	14	16	2014	2014	NUM
fsr-3132	14	17	)	)	PUNCT
fsr-3132	15	1	169–188	169–188	NUM
fsr-3132	15	2	1057	1057	NUM
fsr-3132	15	3	-	-	SYM
fsr-3132	15	4	0810/14/$	0810/14/$	NUM
fsr-3132	15	5	–	–	PUNCT
fsr-3132	15	6	see	see	VERB
fsr-3132	15	7	front	front	ADJ
fsr-3132	15	8	matter	matter	NOUN
fsr-3132	15	9	©	©	PROPN
fsr-3132	15	10	2014	2014	NUM
fsr-3132	15	11	academy	academy	NOUN
fsr-3132	15	12	of	of	ADP
fsr-3132	15	13	financial	financial	ADJ
fsr-3132	15	14	services	service	NOUN
fsr-3132	15	15	.	.	PUNCT
fsr-3132	16	1	all	all	DET
fsr-3132	16	2	rights	right	NOUN
fsr-3132	16	3	reserved	reserve	VERB
fsr-3132	16	4	.	.	PUNCT
fsr-3132	16	5	important	important	ADJ
fsr-3132	16	6	to	to	PART
fsr-3132	16	7	verify	verify	VERB
fsr-3132	16	8	the	the	DET
fsr-3132	16	9	central	central	ADJ
fsr-3132	16	10	tenet	tenet	NOUN
fsr-3132	16	11	of	of	ADP
fsr-3132	16	12	tdfs	tdfs	NOUN
fsr-3132	16	13	:	:	PUNCT
fsr-3132	16	14	investors	investor	NOUN
fsr-3132	16	15	should	should	AUX
fsr-3132	16	16	gradually	gradually	ADV
fsr-3132	16	17	diminish	diminish	VERB
fsr-3132	16	18	the	the	DET
fsr-3132	16	19	importance	importance	NOUN
fsr-3132	16	20	of	of	ADP
fsr-3132	16	21	risky	risky	ADJ
fsr-3132	16	22	assets	asset	NOUN
fsr-3132	16	23	in	in	ADP
fsr-3132	16	24	their	their	PRON
fsr-3132	16	25	retirement	retirement	NOUN
fsr-3132	16	26	portfolio	portfolio	NOUN
fsr-3132	16	27	returns	return	VERB
fsr-3132	16	28	over	over	ADP
fsr-3132	16	29	time	time	NOUN
fsr-3132	16	30	.	.	PUNCT
fsr-3132	17	1	moreover	moreover	ADV
fsr-3132	17	2	,	,	PUNCT
fsr-3132	17	3	it	it	PRON
fsr-3132	17	4	is	be	AUX
fsr-3132	17	5	essential	essential	ADJ
fsr-3132	17	6	to	to	PART
fsr-3132	17	7	establish	establish	VERB
fsr-3132	17	8	if	if	SCONJ
fsr-3132	17	9	the	the	DET
fsr-3132	17	10	current	current	ADJ
fsr-3132	17	11	variety	variety	NOUN
fsr-3132	17	12	of	of	ADP
fsr-3132	17	13	tdf	tdf	NOUN
fsr-3132	17	14	offerings	offering	NOUN
fsr-3132	17	15	satisfy	satisfy	VERB
fsr-3132	17	16	the	the	DET
fsr-3132	17	17	risk	risk	NOUN
fsr-3132	17	18	preferences	preference	NOUN
fsr-3132	17	19	of	of	ADP
fsr-3132	17	20	all	all	DET
fsr-3132	17	21	individual	individual	ADJ
fsr-3132	17	22	investors	investor	NOUN
fsr-3132	17	23	.	.	PUNCT
fsr-3132	18	1	if	if	SCONJ
fsr-3132	18	2	not	not	PART
fsr-3132	18	3	,	,	PUNCT
fsr-3132	18	4	individual	individual	ADJ
fsr-3132	18	5	investors	investor	NOUN
fsr-3132	18	6	and	and	CCONJ
fsr-3132	18	7	financial	financial	ADJ
fsr-3132	18	8	advisors	advisor	NOUN
fsr-3132	18	9	need	need	VERB
fsr-3132	18	10	to	to	PART
fsr-3132	18	11	be	be	AUX
fsr-3132	18	12	aware	aware	ADJ
fsr-3132	18	13	of	of	ADP
fsr-3132	18	14	this	this	PRON
fsr-3132	18	15	,	,	PUNCT
fsr-3132	18	16	so	so	SCONJ
fsr-3132	18	17	that	that	SCONJ
fsr-3132	18	18	they	they	PRON
fsr-3132	18	19	can	can	AUX
fsr-3132	18	20	evaluate	evaluate	VERB
fsr-3132	18	21	how	how	SCONJ
fsr-3132	18	22	to	to	PART
fsr-3132	18	23	alter	alter	VERB
fsr-3132	18	24	the	the	DET
fsr-3132	18	25	portfolios	portfolio	NOUN
fsr-3132	18	26	properly	properly	ADV
fsr-3132	18	27	to	to	PART
fsr-3132	18	28	match	match	VERB
fsr-3132	18	29	their	their	PRON
fsr-3132	18	30	risk	risk	NOUN
fsr-3132	18	31	profiles	profile	NOUN
fsr-3132	18	32	and	and	CCONJ
fsr-3132	18	33	maximize	maximize	VERB
fsr-3132	18	34	their	their	PRON
fsr-3132	18	35	utilities	utility	NOUN
fsr-3132	18	36	.	.	PUNCT
fsr-3132	19	1	tdfs	tdfs	NOUN
fsr-3132	19	2	are	be	AUX
fsr-3132	19	3	distinguishable	distinguishable	ADJ
fsr-3132	19	4	by	by	ADP
fsr-3132	19	5	both	both	CCONJ
fsr-3132	19	6	the	the	DET
fsr-3132	19	7	target	target	NOUN
fsr-3132	19	8	retirement	retirement	NOUN
fsr-3132	19	9	date	date	NOUN
fsr-3132	19	10	and	and	CCONJ
fsr-3132	19	11	a	a	DET
fsr-3132	19	12	glide	glide	NOUN
fsr-3132	19	13	path	path	NOUN
fsr-3132	19	14	,	,	PUNCT
fsr-3132	19	15	which	which	PRON
fsr-3132	19	16	is	be	AUX
fsr-3132	19	17	defined	define	VERB
fsr-3132	19	18	as	as	ADP
fsr-3132	19	19	the	the	DET
fsr-3132	19	20	specific	specific	ADJ
fsr-3132	19	21	strategy	strategy	NOUN
fsr-3132	19	22	that	that	PRON
fsr-3132	19	23	decreases	decrease	VERB
fsr-3132	19	24	the	the	DET
fsr-3132	19	25	portfolio	portfolio	NOUN
fsr-3132	19	26	’s	’s	PART
fsr-3132	19	27	risky	risky	ADJ
fsr-3132	19	28	asset	asset	NOUN
fsr-3132	19	29	allocation	allocation	NOUN
fsr-3132	19	30	throughout	throughout	ADP
fsr-3132	19	31	its	its	PRON
fsr-3132	19	32	accumulation	accumulation	NOUN
fsr-3132	19	33	period.2	period.2	NOUN
fsr-3132	19	34	instead	instead	ADV
fsr-3132	19	35	of	of	ADP
fsr-3132	19	36	tdfs	tdfs	NOUN
fsr-3132	19	37	,	,	PUNCT
fsr-3132	19	38	an	an	DET
fsr-3132	19	39	investor	investor	NOUN
fsr-3132	19	40	could	could	AUX
fsr-3132	19	41	alternatively	alternatively	ADV
fsr-3132	19	42	invest	invest	VERB
fsr-3132	19	43	in	in	ADP
fsr-3132	19	44	lifestyle	lifestyle	NOUN
fsr-3132	19	45	funds	fund	NOUN
fsr-3132	19	46	that	that	PRON
fsr-3132	19	47	hold	hold	VERB
fsr-3132	19	48	equity	equity	NOUN
fsr-3132	19	49	allocations	allocation	NOUN
fsr-3132	19	50	fixed	fix	VERB
fsr-3132	19	51	over	over	ADP
fsr-3132	19	52	time	time	NOUN
fsr-3132	19	53	.	.	PUNCT
fsr-3132	20	1	the	the	DET
fsr-3132	20	2	superiority	superiority	NOUN
fsr-3132	20	3	of	of	ADP
fsr-3132	20	4	decreasing	decrease	VERB
fsr-3132	20	5	equity	equity	NOUN
fsr-3132	20	6	allocations	allocation	NOUN
fsr-3132	20	7	over	over	ADP
fsr-3132	20	8	holding	hold	VERB
fsr-3132	20	9	them	they	PRON
fsr-3132	20	10	fixed	fix	VERB
fsr-3132	20	11	has	have	AUX
fsr-3132	20	12	been	be	AUX
fsr-3132	20	13	questioned	question	VERB
fsr-3132	20	14	for	for	ADP
fsr-3132	20	15	a	a	DET
fsr-3132	20	16	long	long	ADJ
fsr-3132	20	17	time	time	NOUN
fsr-3132	20	18	,	,	PUNCT
fsr-3132	20	19	even	even	ADV
fsr-3132	20	20	before	before	ADP
fsr-3132	20	21	the	the	DET
fsr-3132	20	22	emergence	emergence	NOUN
fsr-3132	20	23	of	of	ADP
fsr-3132	20	24	tdfs	tdfs	NOUN
fsr-3132	20	25	.	.	PUNCT
fsr-3132	21	1	many	many	ADJ
fsr-3132	21	2	financial	financial	ADJ
fsr-3132	21	3	planners	planner	NOUN
fsr-3132	21	4	have	have	AUX
fsr-3132	21	5	advocated	advocate	VERB
fsr-3132	21	6	that	that	SCONJ
fsr-3132	21	7	the	the	DET
fsr-3132	21	8	equity	equity	NOUN
fsr-3132	21	9	weighting	weighting	NOUN
fsr-3132	21	10	in	in	ADP
fsr-3132	21	11	an	an	DET
fsr-3132	21	12	individual	individual	ADJ
fsr-3132	21	13	investor	investor	NOUN
fsr-3132	21	14	’s	’s	PART
fsr-3132	21	15	portfolio	portfolio	NOUN
fsr-3132	21	16	should	should	AUX
fsr-3132	21	17	be	be	AUX
fsr-3132	21	18	inversely	inversely	ADV
fsr-3132	21	19	related	relate	VERB
fsr-3132	21	20	to	to	ADP
fsr-3132	21	21	the	the	DET
fsr-3132	21	22	investor	investor	NOUN
fsr-3132	21	23	’s	’s	PART
fsr-3132	21	24	age	age	NOUN
fsr-3132	21	25	.	.	PUNCT
fsr-3132	22	1	the	the	DET
fsr-3132	22	2	most	most	ADV
fsr-3132	22	3	common	common	ADJ
fsr-3132	22	4	rule	rule	NOUN
fsr-3132	22	5	of	of	ADP
fsr-3132	22	6	thumb	thumb	NOUN
fsr-3132	22	7	is	be	AUX
fsr-3132	22	8	that	that	SCONJ
fsr-3132	22	9	the	the	DET
fsr-3132	22	10	percentage	percentage	NOUN
fsr-3132	22	11	of	of	ADP
fsr-3132	22	12	wealth	wealth	NOUN
fsr-3132	22	13	invested	invest	VERB
fsr-3132	22	14	in	in	ADP
fsr-3132	22	15	stocks	stock	NOUN
fsr-3132	22	16	should	should	AUX
fsr-3132	22	17	be	be	AUX
fsr-3132	22	18	equal	equal	ADJ
fsr-3132	22	19	to	to	ADP
fsr-3132	22	20	100	100	NUM
fsr-3132	22	21	minus	minus	ADP
fsr-3132	22	22	the	the	DET
fsr-3132	22	23	investor	investor	NOUN
fsr-3132	22	24	’s	’s	PART
fsr-3132	22	25	age	age	NOUN
fsr-3132	22	26	(	(	PUNCT
fsr-3132	22	27	ameriks	amerik	NOUN
fsr-3132	22	28	and	and	CCONJ
fsr-3132	22	29	zeldes	zelde	NOUN
fsr-3132	22	30	,	,	PUNCT
fsr-3132	22	31	2004	2004	NUM
fsr-3132	22	32	)	)	PUNCT
fsr-3132	22	33	.	.	PUNCT
fsr-3132	23	1	following	follow	VERB
fsr-3132	23	2	this	this	DET
fsr-3132	23	3	rule	rule	NOUN
fsr-3132	23	4	an	an	DET
fsr-3132	23	5	investor	investor	NOUN
fsr-3132	23	6	who	who	PRON
fsr-3132	23	7	is	be	AUX
fsr-3132	23	8	45	45	NUM
fsr-3132	23	9	years	year	NOUN
fsr-3132	23	10	old	old	ADJ
fsr-3132	23	11	should	should	AUX
fsr-3132	23	12	have	have	VERB
fsr-3132	23	13	no	no	DET
fsr-3132	23	14	more	more	ADJ
fsr-3132	23	15	than	than	ADP
fsr-3132	23	16	55	55	NUM
fsr-3132	23	17	%	%	NOUN
fsr-3132	23	18	of	of	ADP
fsr-3132	23	19	her	her	PRON
fsr-3132	23	20	wealth	wealth	NOUN
fsr-3132	23	21	invested	invest	VERB
fsr-3132	23	22	in	in	ADP
fsr-3132	23	23	stocks	stock	NOUN
fsr-3132	23	24	.	.	PUNCT
fsr-3132	24	1	academic	academic	ADJ
fsr-3132	24	2	literature	literature	NOUN
fsr-3132	24	3	refers	refer	VERB
fsr-3132	24	4	to	to	ADP
fsr-3132	24	5	this	this	DET
fsr-3132	24	6	idea	idea	NOUN
fsr-3132	24	7	as	as	ADP
fsr-3132	24	8	the	the	DET
fsr-3132	24	9	lifecycle	lifecycle	NOUN
fsr-3132	24	10	investment	investment	NOUN
fsr-3132	24	11	hypothesis	hypothesis	NOUN
fsr-3132	24	12	(	(	PUNCT
fsr-3132	24	13	bakshi	bakshi	PROPN
fsr-3132	24	14	and	and	CCONJ
fsr-3132	24	15	chen	chen	PROPN
fsr-3132	24	16	,	,	PUNCT
fsr-3132	24	17	1994	1994	NUM
fsr-3132	24	18	)	)	PUNCT
fsr-3132	24	19	.	.	PUNCT
fsr-3132	25	1	although	although	SCONJ
fsr-3132	25	2	financial	financial	ADJ
fsr-3132	25	3	planners	planner	NOUN
fsr-3132	25	4	seem	seem	VERB
fsr-3132	25	5	to	to	PART
fsr-3132	25	6	generally	generally	ADV
fsr-3132	25	7	agree	agree	VERB
fsr-3132	25	8	with	with	ADP
fsr-3132	25	9	decreasing	decrease	VERB
fsr-3132	25	10	risky	risky	ADJ
fsr-3132	25	11	allocations	allocation	NOUN
fsr-3132	25	12	over	over	ADP
fsr-3132	25	13	time	time	NOUN
fsr-3132	25	14	,	,	PUNCT
fsr-3132	25	15	the	the	DET
fsr-3132	25	16	academic	academic	ADJ
fsr-3132	25	17	support	support	NOUN
fsr-3132	25	18	for	for	ADP
fsr-3132	25	19	this	this	DET
fsr-3132	25	20	argument	argument	NOUN
fsr-3132	25	21	has	have	AUX
fsr-3132	25	22	been	be	AUX
fsr-3132	25	23	less	less	ADV
fsr-3132	25	24	straightforward	straightforward	ADJ
fsr-3132	25	25	.	.	PUNCT
fsr-3132	26	1	we	we	PRON
fsr-3132	26	2	do	do	AUX
fsr-3132	26	3	know	know	VERB
fsr-3132	26	4	that	that	SCONJ
fsr-3132	26	5	stocks	stock	NOUN
fsr-3132	26	6	are	be	AUX
fsr-3132	26	7	not	not	PART
fsr-3132	26	8	as	as	ADV
fsr-3132	26	9	risky	risky	ADJ
fsr-3132	26	10	over	over	ADP
fsr-3132	26	11	a	a	DET
fsr-3132	26	12	long	long	ADJ
fsr-3132	26	13	investment	investment	NOUN
fsr-3132	26	14	horizon	horizon	NOUN
fsr-3132	26	15	(	(	PUNCT
fsr-3132	26	16	bali	bali	PROPN
fsr-3132	26	17	,	,	PUNCT
fsr-3132	26	18	demirtas	demirta	NOUN
fsr-3132	26	19	,	,	PUNCT
fsr-3132	26	20	levy	levy	NOUN
fsr-3132	26	21	,	,	PUNCT
fsr-3132	26	22	and	and	CCONJ
fsr-3132	26	23	wolf	wolf	PROPN
fsr-3132	26	24	,	,	PUNCT
fsr-3132	26	25	2009	2009	NUM
fsr-3132	26	26	;	;	PUNCT
fsr-3132	26	27	malkiel	malkiel	PROPN
fsr-3132	26	28	,	,	PUNCT
fsr-3132	26	29	2011	2011	NUM
fsr-3132	26	30	)	)	PUNCT
fsr-3132	26	31	,	,	PUNCT
fsr-3132	26	32	and	and	CCONJ
fsr-3132	26	33	that	that	SCONJ
fsr-3132	26	34	stocks	stock	NOUN
fsr-3132	26	35	are	be	AUX
fsr-3132	26	36	essential	essential	ADJ
fsr-3132	26	37	to	to	PART
fsr-3132	26	38	accumulate	accumulate	VERB
fsr-3132	26	39	funds	fund	NOUN
fsr-3132	26	40	for	for	ADP
fsr-3132	26	41	different	different	ADJ
fsr-3132	26	42	financial	financial	ADJ
fsr-3132	26	43	goals	goal	NOUN
fsr-3132	26	44	(	(	PUNCT
fsr-3132	26	45	samuelson	samuelson	PROPN
fsr-3132	26	46	,	,	PUNCT
fsr-3132	26	47	1989	1989	NUM
fsr-3132	26	48	;	;	PUNCT
fsr-3132	26	49	dynan	dynan	NOUN
fsr-3132	26	50	,	,	PUNCT
fsr-3132	26	51	skinner	skinner	NOUN
fsr-3132	26	52	,	,	PUNCT
fsr-3132	26	53	and	and	CCONJ
fsr-3132	26	54	zeldes	zelde	NOUN
fsr-3132	26	55	,	,	PUNCT
fsr-3132	26	56	2002	2002	NUM
fsr-3132	26	57	)	)	PUNCT
fsr-3132	26	58	.	.	PUNCT
fsr-3132	27	1	we	we	PRON
fsr-3132	27	2	also	also	ADV
fsr-3132	27	3	know	know	VERB
fsr-3132	27	4	that	that	SCONJ
fsr-3132	27	5	younger	young	ADJ
fsr-3132	27	6	employees	employee	NOUN
fsr-3132	27	7	are	be	AUX
fsr-3132	27	8	endowed	endow	VERB
fsr-3132	27	9	with	with	ADP
fsr-3132	27	10	future	future	ADJ
fsr-3132	27	11	labor	labor	NOUN
fsr-3132	27	12	income	income	NOUN
fsr-3132	27	13	that	that	PRON
fsr-3132	27	14	will	will	AUX
fsr-3132	27	15	help	help	VERB
fsr-3132	27	16	them	they	PRON
fsr-3132	27	17	recover	recover	VERB
fsr-3132	27	18	from	from	ADP
fsr-3132	27	19	potential	potential	ADJ
fsr-3132	27	20	investment	investment	NOUN
fsr-3132	27	21	losses	loss	NOUN
fsr-3132	27	22	if	if	SCONJ
fsr-3132	27	23	they	they	PRON
fsr-3132	27	24	earn	earn	VERB
fsr-3132	27	25	poor	poor	ADJ
fsr-3132	27	26	returns	return	NOUN
fsr-3132	27	27	from	from	ADP
fsr-3132	27	28	risky	risky	ADJ
fsr-3132	27	29	investments	investment	NOUN
fsr-3132	27	30	,	,	PUNCT
fsr-3132	27	31	and	and	CCONJ
fsr-3132	27	32	likewise	likewise	ADV
fsr-3132	27	33	,	,	PUNCT
fsr-3132	27	34	that	that	SCONJ
fsr-3132	27	35	all	all	DET
fsr-3132	27	36	investors	investor	NOUN
fsr-3132	27	37	have	have	VERB
fsr-3132	27	38	desire	desire	NOUN
fsr-3132	27	39	to	to	PART
fsr-3132	27	40	attain	attain	VERB
fsr-3132	27	41	high	high	ADJ
fsr-3132	27	42	terminal	terminal	ADJ
fsr-3132	27	43	values	value	NOUN
fsr-3132	27	44	at	at	ADP
fsr-3132	27	45	the	the	DET
fsr-3132	27	46	end	end	NOUN
fsr-3132	27	47	of	of	ADP
fsr-3132	27	48	their	their	PRON
fsr-3132	27	49	investment	investment	NOUN
fsr-3132	27	50	horizon	horizon	NOUN
fsr-3132	27	51	(	(	PUNCT
fsr-3132	27	52	bodie	bodie	PROPN
fsr-3132	27	53	,	,	PUNCT
fsr-3132	27	54	merton	merton	PROPN
fsr-3132	27	55	,	,	PUNCT
fsr-3132	27	56	and	and	CCONJ
fsr-3132	27	57	samuelson	samuelson	PROPN
fsr-3132	27	58	,	,	PUNCT
fsr-3132	27	59	1992	1992	NUM
fsr-3132	27	60	;	;	PUNCT
fsr-3132	27	61	jagannathan	jagannathan	NOUN
fsr-3132	27	62	and	and	CCONJ
fsr-3132	27	63	kocherlakota	kocherlakota	NOUN
fsr-3132	27	64	,	,	PUNCT
fsr-3132	27	65	1996	1996	NUM
fsr-3132	27	66	)	)	PUNCT
fsr-3132	27	67	.	.	PUNCT
fsr-3132	28	1	our	our	PRON
fsr-3132	28	2	findings	finding	NOUN
fsr-3132	28	3	add	add	VERB
fsr-3132	28	4	one	one	NUM
fsr-3132	28	5	more	more	ADJ
fsr-3132	28	6	reason	reason	NOUN
fsr-3132	28	7	to	to	ADP
fsr-3132	28	8	this	this	DET
fsr-3132	28	9	list	list	NOUN
fsr-3132	28	10	:	:	PUNCT
fsr-3132	28	11	as	as	SCONJ
fsr-3132	28	12	an	an	DET
fsr-3132	28	13	investor	investor	NOUN
fsr-3132	28	14	’s	’s	PART
fsr-3132	28	15	risk	risk	NOUN
fsr-3132	28	16	aversion	aversion	NOUN
fsr-3132	28	17	increases	increase	NOUN
fsr-3132	28	18	with	with	ADP
fsr-3132	28	19	age	age	NOUN
fsr-3132	28	20	,	,	PUNCT
fsr-3132	28	21	the	the	DET
fsr-3132	28	22	equity	equity	NOUN
fsr-3132	28	23	allocation	allocation	NOUN
fsr-3132	28	24	in	in	ADP
fsr-3132	28	25	her	her	PRON
fsr-3132	28	26	portfolio	portfolio	NOUN
fsr-3132	28	27	needs	need	VERB
fsr-3132	28	28	to	to	PART
fsr-3132	28	29	decrease	decrease	VERB
fsr-3132	28	30	to	to	PART
fsr-3132	28	31	remain	remain	VERB
fsr-3132	28	32	optimal	optimal	ADJ
fsr-3132	28	33	for	for	ADP
fsr-3132	28	34	the	the	DET
fsr-3132	28	35	utility	utility	NOUN
fsr-3132	28	36	-	-	PUNCT
fsr-3132	28	37	maximizing	maximize	VERB
fsr-3132	28	38	investor	investor	NOUN
fsr-3132	28	39	.	.	PUNCT
fsr-3132	29	1	an	an	DET
fsr-3132	29	2	investor	investor	NOUN
fsr-3132	29	3	’s	’s	PART
fsr-3132	29	4	risk	risk	NOUN
fsr-3132	29	5	aversion	aversion	NOUN
fsr-3132	29	6	is	be	AUX
fsr-3132	29	7	directly	directly	ADV
fsr-3132	29	8	related	relate	VERB
fsr-3132	29	9	to	to	ADP
fsr-3132	29	10	her	her	PRON
fsr-3132	29	11	utility	utility	NOUN
fsr-3132	29	12	,	,	PUNCT
fsr-3132	29	13	which	which	PRON
fsr-3132	29	14	represents	represent	VERB
fsr-3132	29	15	the	the	DET
fsr-3132	29	16	satisfaction	satisfaction	NOUN
fsr-3132	29	17	that	that	SCONJ
fsr-3132	29	18	the	the	DET
fsr-3132	29	19	investor	investor	NOUN
fsr-3132	29	20	gets	get	VERB
fsr-3132	29	21	from	from	ADP
fsr-3132	29	22	her	her	PRON
fsr-3132	29	23	consumption	consumption	NOUN
fsr-3132	29	24	of	of	ADP
fsr-3132	29	25	goods	good	NOUN
fsr-3132	29	26	or	or	CCONJ
fsr-3132	29	27	services	service	NOUN
fsr-3132	29	28	.	.	PUNCT
fsr-3132	30	1	unlike	unlike	ADP
fsr-3132	30	2	returns	return	NOUN
fsr-3132	30	3	on	on	ADP
fsr-3132	30	4	investments	investment	NOUN
fsr-3132	30	5	or	or	CCONJ
fsr-3132	30	6	the	the	DET
fsr-3132	30	7	terminal	terminal	ADJ
fsr-3132	30	8	wealth	wealth	NOUN
fsr-3132	30	9	,	,	PUNCT
fsr-3132	30	10	utility	utility	NOUN
fsr-3132	30	11	takes	take	VERB
fsr-3132	30	12	into	into	ADP
fsr-3132	30	13	account	account	NOUN
fsr-3132	30	14	the	the	DET
fsr-3132	30	15	cost	cost	NOUN
fsr-3132	30	16	of	of	ADP
fsr-3132	30	17	reaching	reach	VERB
fsr-3132	30	18	monetary	monetary	ADJ
fsr-3132	30	19	goals	goal	NOUN
fsr-3132	30	20	;	;	PUNCT
fsr-3132	30	21	such	such	ADJ
fsr-3132	30	22	as	as	ADP
fsr-3132	30	23	an	an	DET
fsr-3132	30	24	investor	investor	NOUN
fsr-3132	30	25	’s	’s	PART
fsr-3132	30	26	sleepless	sleepless	ADJ
fsr-3132	30	27	nights	night	NOUN
fsr-3132	30	28	that	that	PRON
fsr-3132	30	29	are	be	AUX
fsr-3132	30	30	attributable	attributable	ADJ
fsr-3132	30	31	to	to	ADP
fsr-3132	30	32	taking	take	VERB
fsr-3132	30	33	too	too	ADV
fsr-3132	30	34	much	much	ADJ
fsr-3132	30	35	risk	risk	NOUN
fsr-3132	30	36	.	.	PUNCT
fsr-3132	31	1	keeping	keep	VERB
fsr-3132	31	2	too	too	ADV
fsr-3132	31	3	much	much	ADJ
fsr-3132	31	4	wealth	wealth	NOUN
fsr-3132	31	5	in	in	ADP
fsr-3132	31	6	risky	risky	ADJ
fsr-3132	31	7	assets	asset	NOUN
fsr-3132	31	8	when	when	SCONJ
fsr-3132	31	9	the	the	DET
fsr-3132	31	10	investor	investor	NOUN
fsr-3132	31	11	’s	’s	PART
fsr-3132	31	12	risk	risk	NOUN
fsr-3132	31	13	tolerance	tolerance	NOUN
fsr-3132	31	14	is	be	AUX
fsr-3132	31	15	low	low	ADJ
fsr-3132	31	16	might	might	AUX
fsr-3132	31	17	lead	lead	VERB
fsr-3132	31	18	to	to	ADP
fsr-3132	31	19	lower	lower	ADV
fsr-3132	31	20	expected	expect	VERB
fsr-3132	31	21	utility	utility	NOUN
fsr-3132	31	22	despite	despite	SCONJ
fsr-3132	31	23	the	the	DET
fsr-3132	31	24	potential	potential	ADJ
fsr-3132	31	25	large	large	ADJ
fsr-3132	31	26	dollar	dollar	NOUN
fsr-3132	31	27	amount	amount	NOUN
fsr-3132	31	28	that	that	PRON
fsr-3132	31	29	could	could	AUX
fsr-3132	31	30	be	be	AUX
fsr-3132	31	31	earned	earn	VERB
fsr-3132	31	32	by	by	ADP
fsr-3132	31	33	doing	do	VERB
fsr-3132	31	34	so	so	ADV
fsr-3132	31	35	.	.	PUNCT
fsr-3132	32	1	experts	expert	NOUN
fsr-3132	32	2	in	in	ADP
fsr-3132	32	3	different	different	ADJ
fsr-3132	32	4	fields	field	NOUN
fsr-3132	32	5	,	,	PUNCT
fsr-3132	32	6	such	such	ADJ
fsr-3132	32	7	as	as	ADP
fsr-3132	32	8	psychology	psychology	NOUN
fsr-3132	32	9	,	,	PUNCT
fsr-3132	32	10	economics	economic	NOUN
fsr-3132	32	11	,	,	PUNCT
fsr-3132	32	12	finance	finance	NOUN
fsr-3132	32	13	,	,	PUNCT
fsr-3132	32	14	and	and	CCONJ
fsr-3132	32	15	management	management	NOUN
fsr-3132	32	16	,	,	PUNCT
fsr-3132	32	17	among	among	ADP
fsr-3132	32	18	others	other	NOUN
fsr-3132	32	19	,	,	PUNCT
fsr-3132	32	20	have	have	AUX
fsr-3132	32	21	conducted	conduct	VERB
fsr-3132	32	22	research	research	NOUN
fsr-3132	32	23	on	on	ADP
fsr-3132	32	24	demographics	demographic	NOUN
fsr-3132	32	25	of	of	ADP
fsr-3132	32	26	individual	individual	ADJ
fsr-3132	32	27	risk	risk	NOUN
fsr-3132	32	28	aversion	aversion	NOUN
fsr-3132	32	29	with	with	ADP
fsr-3132	32	30	data	datum	NOUN
fsr-3132	32	31	from	from	ADP
fsr-3132	32	32	many	many	ADJ
fsr-3132	32	33	countries	country	NOUN
fsr-3132	32	34	.	.	PUNCT
fsr-3132	33	1	they	they	PRON
fsr-3132	33	2	have	have	AUX
fsr-3132	33	3	determined	determine	VERB
fsr-3132	33	4	an	an	DET
fsr-3132	33	5	individual	individual	NOUN
fsr-3132	33	6	’s	’s	PART
fsr-3132	33	7	risk	risk	NOUN
fsr-3132	33	8	aversion	aversion	NOUN
fsr-3132	33	9	with	with	ADP
fsr-3132	33	10	:	:	PUNCT
fsr-3132	33	11	analysis	analysis	NOUN
fsr-3132	33	12	of	of	ADP
fsr-3132	33	13	actual	actual	ADJ
fsr-3132	33	14	holdings	holding	NOUN
fsr-3132	33	15	of	of	ADP
fsr-3132	33	16	risky	risky	ADJ
fsr-3132	33	17	assets	asset	NOUN
fsr-3132	33	18	(	(	PUNCT
fsr-3132	33	19	see	see	VERB
fsr-3132	33	20	,	,	PUNCT
fsr-3132	33	21	for	for	ADP
fsr-3132	33	22	instance	instance	NOUN
fsr-3132	33	23	,	,	PUNCT
fsr-3132	33	24	morin	morin	PROPN
fsr-3132	33	25	and	and	CCONJ
fsr-3132	33	26	suarez	suarez	PROPN
fsr-3132	33	27	,	,	PUNCT
fsr-3132	33	28	1983	1983	NUM
fsr-3132	33	29	;	;	PUNCT
fsr-3132	33	30	bakshi	bakshi	PROPN
fsr-3132	33	31	and	and	CCONJ
fsr-3132	33	32	chen	chen	PROPN
fsr-3132	33	33	,	,	PUNCT
fsr-3132	33	34	1994	1994	NUM
fsr-3132	33	35	;	;	PUNCT
fsr-3132	33	36	pålsson	pålsson	NOUN
fsr-3132	33	37	,	,	PUNCT
fsr-3132	33	38	1996	1996	NUM
fsr-3132	33	39	;	;	PUNCT
fsr-3132	33	40	agnew	agnew	PROPN
fsr-3132	33	41	,	,	PUNCT
fsr-3132	33	42	balduzzi	balduzzi	NOUN
fsr-3132	33	43	,	,	PUNCT
fsr-3132	33	44	and	and	CCONJ
fsr-3132	33	45	sundén	sundén	PROPN
fsr-3132	33	46	,	,	PUNCT
fsr-3132	33	47	2003	2003	NUM
fsr-3132	33	48	;	;	PUNCT
fsr-3132	33	49	and	and	CCONJ
fsr-3132	33	50	gibson	gibson	PROPN
fsr-3132	33	51	,	,	PUNCT
fsr-3132	33	52	michayluk	michayluk	NOUN
fsr-3132	33	53	,	,	PUNCT
fsr-3132	33	54	and	and	CCONJ
fsr-3132	33	55	van	van	PROPN
fsr-3132	33	56	de	de	PROPN
fsr-3132	33	57	venter	venter	PROPN
fsr-3132	33	58	,	,	PUNCT
fsr-3132	33	59	2013	2013	NUM
fsr-3132	33	60	)	)	PUNCT
fsr-3132	33	61	;	;	PUNCT
fsr-3132	34	1	experimental	experimental	ADJ
fsr-3132	34	2	studies	study	NOUN
fsr-3132	34	3	looking	look	VERB
fsr-3132	34	4	at	at	ADP
fsr-3132	34	5	the	the	DET
fsr-3132	34	6	participant	participant	NOUN
fsr-3132	34	7	’s	’s	PART
fsr-3132	34	8	choice	choice	NOUN
fsr-3132	34	9	between	between	ADP
fsr-3132	34	10	risky	risky	ADJ
fsr-3132	34	11	alternatives	alternative	NOUN
fsr-3132	34	12	,	,	PUNCT
fsr-3132	34	13	and	and	CCONJ
fsr-3132	34	14	studies	study	NOUN
fsr-3132	34	15	that	that	PRON
fsr-3132	34	16	involve	involve	VERB
fsr-3132	34	17	monitoring	monitor	VERB
fsr-3132	34	18	brain	brain	NOUN
fsr-3132	34	19	activity	activity	NOUN
fsr-3132	34	20	during	during	ADP
fsr-3132	34	21	decision	decision	NOUN
fsr-3132	34	22	-	-	PUNCT
fsr-3132	34	23	making	make	VERB
fsr-3132	34	24	170	170	NUM
fsr-3132	34	25	r.p	r.p	NOUN
fsr-3132	34	26	.	.	PROPN
fsr-3132	35	1	chang	chang	PROPN
fsr-3132	35	2	et	et	PROPN
fsr-3132	35	3	al	al	PROPN
fsr-3132	35	4	.	.	PUNCT
fsr-3132	35	5	/	/	SYM
fsr-3132	35	6	financial	financial	ADJ
fsr-3132	35	7	services	service	NOUN
fsr-3132	35	8	review	review	VERB
fsr-3132	35	9	23	23	NUM
fsr-3132	35	10	(	(	PUNCT
fsr-3132	35	11	2014	2014	NUM
fsr-3132	35	12	)	)	PUNCT
fsr-3132	35	13	169–188	169–188	NUM
fsr-3132	35	14	that	that	PRON
fsr-3132	35	15	involves	involve	VERB
fsr-3132	35	16	risk	risk	NOUN
fsr-3132	35	17	(	(	PUNCT
fsr-3132	35	18	deakin	deakin	PROPN
fsr-3132	35	19	,	,	PUNCT
fsr-3132	35	20	aitken	aitken	PROPN
fsr-3132	35	21	,	,	PUNCT
fsr-3132	35	22	robbins	robbin	NOUN
fsr-3132	35	23	,	,	PUNCT
fsr-3132	35	24	and	and	CCONJ
fsr-3132	35	25	bahakian	bahakian	NOUN
fsr-3132	35	26	,	,	PUNCT
fsr-3132	35	27	2004	2004	NUM
fsr-3132	35	28	;	;	PUNCT
fsr-3132	35	29	lee	lee	PROPN
fsr-3132	35	30	,	,	PUNCT
fsr-3132	35	31	leung	leung	PROPN
fsr-3132	35	32	,	,	PUNCT
fsr-3132	35	33	fox	fox	PROPN
fsr-3132	35	34	,	,	PUNCT
fsr-3132	35	35	and	and	CCONJ
fsr-3132	35	36	gao	gao	PROPN
fsr-3132	35	37	,	,	PUNCT
fsr-3132	35	38	2007	2007	NUM
fsr-3132	35	39	)	)	PUNCT
fsr-3132	35	40	.	.	PUNCT
fsr-3132	36	1	in	in	ADP
fsr-3132	36	2	general	general	ADJ
fsr-3132	36	3	,	,	PUNCT
fsr-3132	36	4	these	these	DET
fsr-3132	36	5	studies	study	NOUN
fsr-3132	36	6	support	support	VERB
fsr-3132	36	7	the	the	DET
fsr-3132	36	8	lifecycle	lifecycle	NOUN
fsr-3132	36	9	risk	risk	NOUN
fsr-3132	36	10	aversion	aversion	NOUN
fsr-3132	36	11	hypothesis	hypothesis	NOUN
fsr-3132	36	12	.	.	PUNCT
fsr-3132	37	1	specifically	specifically	ADV
fsr-3132	37	2	,	,	PUNCT
fsr-3132	37	3	they	they	PRON
fsr-3132	37	4	provide	provide	VERB
fsr-3132	37	5	evidence	evidence	NOUN
fsr-3132	37	6	that	that	SCONJ
fsr-3132	37	7	the	the	DET
fsr-3132	37	8	arrow	arrow	NOUN
fsr-3132	37	9	-	-	PUNCT
fsr-3132	37	10	pratt	pratt	NOUN
fsr-3132	37	11	measure	measure	NOUN
fsr-3132	37	12	of	of	ADP
fsr-3132	37	13	relative	relative	ADJ
fsr-3132	37	14	risk	risk	NOUN
fsr-3132	37	15	aversion	aversion	NOUN
fsr-3132	37	16	increases	increase	NOUN
fsr-3132	37	17	with	with	ADP
fsr-3132	37	18	age	age	NOUN
fsr-3132	37	19	,	,	PUNCT
fsr-3132	37	20	and	and	CCONJ
fsr-3132	37	21	older	old	ADJ
fsr-3132	37	22	investors	investor	NOUN
fsr-3132	37	23	hold	hold	VERB
fsr-3132	37	24	lower	low	ADJ
fsr-3132	37	25	proportion	proportion	NOUN
fsr-3132	37	26	of	of	ADP
fsr-3132	37	27	risky	risky	ADJ
fsr-3132	37	28	assets	asset	NOUN
fsr-3132	37	29	in	in	ADP
fsr-3132	37	30	their	their	PRON
fsr-3132	37	31	total	total	ADJ
fsr-3132	37	32	wealth.3	wealth.3	NOUN
fsr-3132	37	33	in	in	ADP
fsr-3132	37	34	this	this	DET
fsr-3132	37	35	article	article	NOUN
fsr-3132	37	36	we	we	PRON
fsr-3132	37	37	use	use	VERB
fsr-3132	37	38	expected	expect	VERB
fsr-3132	37	39	utility	utility	NOUN
fsr-3132	37	40	over	over	ADP
fsr-3132	37	41	different	different	ADJ
fsr-3132	37	42	accumulation	accumulation	NOUN
fsr-3132	37	43	periods	period	NOUN
fsr-3132	37	44	to	to	PART
fsr-3132	37	45	compare	compare	VERB
fsr-3132	37	46	differences	difference	NOUN
fsr-3132	37	47	between	between	ADP
fsr-3132	37	48	lifecycle	lifecycle	NOUN
fsr-3132	37	49	and	and	CCONJ
fsr-3132	37	50	lifestyle	lifestyle	NOUN
fsr-3132	37	51	strategies	strategy	NOUN
fsr-3132	37	52	whereas	whereas	SCONJ
fsr-3132	37	53	assuming	assume	VERB
fsr-3132	37	54	that	that	SCONJ
fsr-3132	37	55	investors	investor	NOUN
fsr-3132	37	56	are	be	AUX
fsr-3132	37	57	utility	utility	NOUN
fsr-3132	37	58	maximizers.4	maximizers.4	NOUN
fsr-3132	37	59	we	we	PRON
fsr-3132	37	60	run	run	VERB
fsr-3132	37	61	simulations	simulation	NOUN
fsr-3132	37	62	with	with	ADP
fsr-3132	37	63	a	a	DET
fsr-3132	37	64	range	range	NOUN
fsr-3132	37	65	of	of	ADP
fsr-3132	37	66	portfolio	portfolio	NOUN
fsr-3132	37	67	weights	weight	NOUN
fsr-3132	37	68	on	on	ADP
fsr-3132	37	69	stocks	stock	NOUN
fsr-3132	37	70	and	and	CCONJ
fsr-3132	37	71	bonds	bond	NOUN
fsr-3132	37	72	for	for	ADP
fsr-3132	37	73	both	both	CCONJ
fsr-3132	37	74	lifecycle	lifecycle	NOUN
fsr-3132	37	75	and	and	CCONJ
fsr-3132	37	76	lifestyle	lifestyle	NOUN
fsr-3132	37	77	strategies	strategy	NOUN
fsr-3132	37	78	,	,	PUNCT
fsr-3132	37	79	with	with	ADP
fsr-3132	37	80	a	a	DET
fsr-3132	37	81	range	range	NOUN
fsr-3132	37	82	of	of	ADP
fsr-3132	37	83	representative	representative	ADJ
fsr-3132	37	84	investors	investor	NOUN
fsr-3132	37	85	with	with	ADP
fsr-3132	37	86	different	different	ADJ
fsr-3132	37	87	risk	risk	NOUN
fsr-3132	37	88	aversion	aversion	NOUN
fsr-3132	37	89	characteristics	characteristic	NOUN
fsr-3132	37	90	.	.	PUNCT
fsr-3132	38	1	our	our	PRON
fsr-3132	38	2	investigation	investigation	NOUN
fsr-3132	38	3	includes	include	VERB
fsr-3132	38	4	portfolio	portfolio	NOUN
fsr-3132	38	5	strategies	strategy	NOUN
fsr-3132	38	6	that	that	PRON
fsr-3132	38	7	are	be	AUX
fsr-3132	38	8	more	more	ADV
fsr-3132	38	9	common	common	ADJ
fsr-3132	38	10	among	among	ADP
fsr-3132	38	11	the	the	DET
fsr-3132	38	12	funds	fund	NOUN
fsr-3132	38	13	offered	offer	VERB
fsr-3132	38	14	by	by	ADP
fsr-3132	38	15	fund	fund	NOUN
fsr-3132	38	16	families	family	NOUN
fsr-3132	38	17	and	and	CCONJ
fsr-3132	38	18	the	the	DET
fsr-3132	38	19	best	good	ADJ
fsr-3132	38	20	performing	perform	VERB
fsr-3132	38	21	strategies	strategy	NOUN
fsr-3132	38	22	.	.	PUNCT
fsr-3132	39	1	we	we	PRON
fsr-3132	39	2	find	find	VERB
fsr-3132	39	3	that	that	SCONJ
fsr-3132	39	4	for	for	ADP
fsr-3132	39	5	the	the	DET
fsr-3132	39	6	investor	investor	NOUN
fsr-3132	39	7	whose	whose	DET
fsr-3132	39	8	risk	risk	NOUN
fsr-3132	39	9	aversion	aversion	NOUN
fsr-3132	39	10	increases	increase	VERB
fsr-3132	39	11	as	as	SCONJ
fsr-3132	39	12	she	she	PRON
fsr-3132	39	13	gets	get	VERB
fsr-3132	39	14	older	old	ADJ
fsr-3132	39	15	,	,	PUNCT
fsr-3132	39	16	the	the	DET
fsr-3132	39	17	lifecycle	lifecycle	NOUN
fsr-3132	39	18	portfolio	portfolio	NOUN
fsr-3132	39	19	strategies	strategy	NOUN
fsr-3132	39	20	lead	lead	VERB
fsr-3132	39	21	to	to	ADP
fsr-3132	39	22	higher	high	ADJ
fsr-3132	39	23	expected	expect	VERB
fsr-3132	39	24	utility	utility	NOUN
fsr-3132	39	25	than	than	ADP
fsr-3132	39	26	strategies	strategy	NOUN
fsr-3132	39	27	that	that	PRON
fsr-3132	39	28	keep	keep	VERB
fsr-3132	39	29	equity	equity	NOUN
fsr-3132	39	30	allocation	allocation	NOUN
fsr-3132	39	31	fixed	fix	VERB
fsr-3132	39	32	over	over	ADP
fsr-3132	39	33	the	the	DET
fsr-3132	39	34	whole	whole	ADJ
fsr-3132	39	35	accumulation	accumulation	NOUN
fsr-3132	39	36	period	period	NOUN
fsr-3132	39	37	.	.	PUNCT
fsr-3132	40	1	prior	prior	ADJ
fsr-3132	40	2	studies	study	NOUN
fsr-3132	40	3	in	in	ADP
fsr-3132	40	4	the	the	DET
fsr-3132	40	5	field	field	NOUN
fsr-3132	40	6	of	of	ADP
fsr-3132	40	7	behavioral	behavioral	ADJ
fsr-3132	40	8	finance	finance	NOUN
fsr-3132	40	9	have	have	AUX
fsr-3132	40	10	concluded	conclude	VERB
fsr-3132	40	11	that	that	SCONJ
fsr-3132	40	12	investors	investor	NOUN
fsr-3132	40	13	have	have	VERB
fsr-3132	40	14	different	different	ADJ
fsr-3132	40	15	attitude	attitude	NOUN
fsr-3132	40	16	towards	towards	ADP
fsr-3132	40	17	downside	downside	ADJ
fsr-3132	40	18	risk	risk	NOUN
fsr-3132	40	19	and	and	CCONJ
fsr-3132	40	20	are	be	AUX
fsr-3132	40	21	more	more	ADV
fsr-3132	40	22	sensitive	sensitive	ADJ
fsr-3132	40	23	to	to	ADP
fsr-3132	40	24	the	the	DET
fsr-3132	40	25	negative	negative	ADJ
fsr-3132	40	26	changes	change	NOUN
fsr-3132	40	27	to	to	ADP
fsr-3132	40	28	their	their	PRON
fsr-3132	40	29	wealth	wealth	NOUN
fsr-3132	40	30	(	(	PUNCT
fsr-3132	40	31	kahneman	kahneman	NOUN
fsr-3132	40	32	and	and	CCONJ
fsr-3132	40	33	tversky	tversky	ADJ
fsr-3132	40	34	,	,	PUNCT
fsr-3132	40	35	1979	1979	NUM
fsr-3132	40	36	)	)	PUNCT
fsr-3132	40	37	.	.	PUNCT
fsr-3132	41	1	we	we	PRON
fsr-3132	41	2	therefore	therefore	ADV
fsr-3132	41	3	incorporate	incorporate	VERB
fsr-3132	41	4	the	the	DET
fsr-3132	41	5	concept	concept	NOUN
fsr-3132	41	6	of	of	ADP
fsr-3132	41	7	loss	loss	NOUN
fsr-3132	41	8	aversion	aversion	NOUN
fsr-3132	41	9	into	into	ADP
fsr-3132	41	10	the	the	DET
fsr-3132	41	11	expected	expect	VERB
fsr-3132	41	12	utility	utility	NOUN
fsr-3132	41	13	model	model	NOUN
fsr-3132	41	14	.	.	PUNCT
fsr-3132	42	1	the	the	DET
fsr-3132	42	2	results	result	NOUN
fsr-3132	42	3	find	find	VERB
fsr-3132	42	4	further	further	ADJ
fsr-3132	42	5	evidence	evidence	NOUN
fsr-3132	42	6	that	that	SCONJ
fsr-3132	42	7	an	an	DET
fsr-3132	42	8	investment	investment	NOUN
fsr-3132	42	9	strategy	strategy	NOUN
fsr-3132	42	10	that	that	PRON
fsr-3132	42	11	decreases	decrease	VERB
fsr-3132	42	12	the	the	DET
fsr-3132	42	13	weight	weight	NOUN
fsr-3132	42	14	of	of	ADP
fsr-3132	42	15	risky	risky	ADJ
fsr-3132	42	16	assets	asset	NOUN
fsr-3132	42	17	in	in	ADP
fsr-3132	42	18	the	the	DET
fsr-3132	42	19	portfolio	portfolio	NOUN
fsr-3132	42	20	as	as	SCONJ
fsr-3132	42	21	the	the	DET
fsr-3132	42	22	target	target	NOUN
fsr-3132	42	23	retirement	retirement	NOUN
fsr-3132	42	24	date	date	NOUN
fsr-3132	42	25	nears	near	VERB
fsr-3132	42	26	,	,	PUNCT
fsr-3132	42	27	leads	lead	VERB
fsr-3132	42	28	to	to	ADP
fsr-3132	42	29	higher	high	ADJ
fsr-3132	42	30	expected	expect	VERB
fsr-3132	42	31	utility	utility	NOUN
fsr-3132	42	32	than	than	ADP
fsr-3132	42	33	that	that	PRON
fsr-3132	42	34	of	of	ADP
fsr-3132	42	35	the	the	DET
fsr-3132	42	36	best	good	ADJ
fsr-3132	42	37	lifestyle	lifestyle	NOUN
fsr-3132	42	38	strategy	strategy	NOUN
fsr-3132	42	39	and	and	CCONJ
fsr-3132	42	40	is	be	AUX
fsr-3132	42	41	,	,	PUNCT
fsr-3132	42	42	therefore	therefore	ADV
fsr-3132	42	43	,	,	PUNCT
fsr-3132	42	44	preferable	preferable	ADJ
fsr-3132	42	45	to	to	ADP
fsr-3132	42	46	the	the	DET
fsr-3132	42	47	utility	utility	NOUN
fsr-3132	42	48	-	-	PUNCT
fsr-3132	42	49	maximizing	maximize	VERB
fsr-3132	42	50	investor	investor	NOUN
fsr-3132	42	51	.	.	PUNCT
fsr-3132	43	1	it	it	PRON
fsr-3132	43	2	is	be	AUX
fsr-3132	43	3	also	also	ADV
fsr-3132	43	4	important	important	ADJ
fsr-3132	43	5	to	to	PART
fsr-3132	43	6	remember	remember	VERB
fsr-3132	43	7	that	that	SCONJ
fsr-3132	43	8	not	not	PART
fsr-3132	43	9	all	all	PRON
fsr-3132	43	10	tdfs	tdfs	ADJ
fsr-3132	43	11	with	with	ADP
fsr-3132	43	12	the	the	DET
fsr-3132	43	13	same	same	ADJ
fsr-3132	43	14	target	target	NOUN
fsr-3132	43	15	date	date	NOUN
fsr-3132	43	16	are	be	AUX
fsr-3132	43	17	the	the	DET
fsr-3132	43	18	same	same	ADJ
fsr-3132	43	19	.	.	PUNCT
fsr-3132	44	1	balduzzi	balduzzi	NOUN
fsr-3132	44	2	and	and	CCONJ
fsr-3132	44	3	reuter	reuter	PROPN
fsr-3132	44	4	(	(	PUNCT
fsr-3132	44	5	2012	2012	NUM
fsr-3132	44	6	)	)	PUNCT
fsr-3132	44	7	find	find	VERB
fsr-3132	44	8	increased	increase	VERB
fsr-3132	44	9	heterogeneity	heterogeneity	NOUN
fsr-3132	44	10	among	among	ADP
fsr-3132	44	11	the	the	DET
fsr-3132	44	12	tdfs	tdfs	NOUN
fsr-3132	44	13	offered	offer	VERB
fsr-3132	44	14	in	in	ADP
fsr-3132	44	15	the	the	DET
fsr-3132	44	16	market	market	NOUN
fsr-3132	44	17	and	and	CCONJ
fsr-3132	44	18	conclude	conclude	VERB
fsr-3132	44	19	that	that	SCONJ
fsr-3132	44	20	this	this	DET
fsr-3132	44	21	differentiation	differentiation	NOUN
fsr-3132	44	22	can	can	AUX
fsr-3132	44	23	lead	lead	VERB
fsr-3132	44	24	to	to	ADP
fsr-3132	44	25	varying	vary	VERB
fsr-3132	44	26	levels	level	NOUN
fsr-3132	44	27	of	of	ADP
fsr-3132	44	28	performance	performance	NOUN
fsr-3132	44	29	and	and	CCONJ
fsr-3132	44	30	risk	risk	NOUN
fsr-3132	44	31	.	.	PUNCT
fsr-3132	45	1	idzorek	idzorek	NOUN
fsr-3132	45	2	(	(	PUNCT
fsr-3132	45	3	2009	2009	NUM
fsr-3132	45	4	)	)	PUNCT
fsr-3132	45	5	stresses	stress	VERB
fsr-3132	45	6	that	that	SCONJ
fsr-3132	45	7	it	it	PRON
fsr-3132	45	8	is	be	AUX
fsr-3132	45	9	important	important	ADJ
fsr-3132	45	10	to	to	PART
fsr-3132	45	11	look	look	VERB
fsr-3132	45	12	beyond	beyond	ADP
fsr-3132	45	13	the	the	DET
fsr-3132	45	14	target	target	NOUN
fsr-3132	45	15	date	date	NOUN
fsr-3132	45	16	and	and	CCONJ
fsr-3132	45	17	evaluate	evaluate	VERB
fsr-3132	45	18	the	the	DET
fsr-3132	45	19	fund	fund	NOUN
fsr-3132	45	20	strategy	strategy	NOUN
fsr-3132	45	21	in	in	ADP
fsr-3132	45	22	terms	term	NOUN
fsr-3132	45	23	of	of	ADP
fsr-3132	45	24	investors	investor	NOUN
fsr-3132	45	25	’	’	PART
fsr-3132	45	26	risk	risk	NOUN
fsr-3132	45	27	preference	preference	NOUN
fsr-3132	45	28	and	and	CCONJ
fsr-3132	45	29	risk	risk	NOUN
fsr-3132	45	30	capacity	capacity	NOUN
fsr-3132	45	31	.	.	PUNCT
fsr-3132	46	1	the	the	DET
fsr-3132	46	2	morningstar	morningstar	PROPN
fsr-3132	46	3	industry	industry	NOUN
fsr-3132	46	4	survey	survey	NOUN
fsr-3132	46	5	(	(	PUNCT
fsr-3132	46	6	2009	2009	NUM
fsr-3132	46	7	)	)	PUNCT
fsr-3132	46	8	reports	report	VERB
fsr-3132	46	9	that	that	SCONJ
fsr-3132	46	10	in	in	ADP
fsr-3132	46	11	2008	2008	NUM
fsr-3132	46	12	the	the	DET
fsr-3132	46	13	equity	equity	NOUN
fsr-3132	46	14	allocations	allocation	NOUN
fsr-3132	46	15	for	for	ADP
fsr-3132	46	16	2010	2010	NUM
fsr-3132	46	17	tdfs	tdfs	ADJ
fsr-3132	46	18	range	range	NOUN
fsr-3132	46	19	from	from	ADP
fsr-3132	46	20	26	26	NUM
fsr-3132	46	21	%	%	NOUN
fsr-3132	46	22	to	to	PART
fsr-3132	46	23	72	72	NUM
fsr-3132	46	24	%	%	NOUN
fsr-3132	46	25	.	.	PUNCT
fsr-3132	47	1	because	because	SCONJ
fsr-3132	47	2	of	of	ADP
fsr-3132	47	3	this	this	DET
fsr-3132	47	4	wide	wide	ADJ
fsr-3132	47	5	difference	difference	NOUN
fsr-3132	47	6	in	in	ADP
fsr-3132	47	7	glide	glide	ADJ
fsr-3132	47	8	paths	path	NOUN
fsr-3132	47	9	,	,	PUNCT
fsr-3132	47	10	we	we	PRON
fsr-3132	47	11	consider	consider	VERB
fsr-3132	47	12	a	a	DET
fsr-3132	47	13	variety	variety	NOUN
fsr-3132	47	14	of	of	ADP
fsr-3132	47	15	lifecycle	lifecycle	NOUN
fsr-3132	47	16	strategies	strategy	NOUN
fsr-3132	47	17	,	,	PUNCT
fsr-3132	47	18	including	include	VERB
fsr-3132	47	19	different	different	ADJ
fsr-3132	47	20	glide	glide	ADJ
fsr-3132	47	21	path	path	NOUN
fsr-3132	47	22	lengths	length	NOUN
fsr-3132	47	23	,	,	PUNCT
fsr-3132	47	24	gentle	gentle	ADJ
fsr-3132	47	25	and	and	CCONJ
fsr-3132	47	26	steep	steep	ADJ
fsr-3132	47	27	descent	descent	NOUN
fsr-3132	47	28	glide	glide	NOUN
fsr-3132	47	29	paths	path	NOUN
fsr-3132	47	30	(	(	PUNCT
fsr-3132	47	31	also	also	ADV
fsr-3132	47	32	referred	refer	VERB
fsr-3132	47	33	to	to	ADP
fsr-3132	47	34	as	as	ADP
fsr-3132	47	35	glide	glide	NOUN
fsr-3132	47	36	paths	path	NOUN
fsr-3132	47	37	with	with	ADP
fsr-3132	47	38	kink	kink	PROPN
fsr-3132	47	39	)	)	PUNCT
fsr-3132	47	40	,	,	PUNCT
fsr-3132	47	41	as	as	ADV
fsr-3132	47	42	well	well	ADV
fsr-3132	47	43	as	as	ADP
fsr-3132	47	44	aggressive	aggressive	ADJ
fsr-3132	47	45	and	and	CCONJ
fsr-3132	47	46	conservative	conservative	ADJ
fsr-3132	47	47	glide	glide	ADJ
fsr-3132	47	48	paths	path	NOUN
fsr-3132	47	49	in	in	ADP
fsr-3132	47	50	our	our	PRON
fsr-3132	47	51	analysis	analysis	NOUN
fsr-3132	47	52	.	.	PUNCT
fsr-3132	48	1	as	as	ADP
fsr-3132	48	2	the	the	DET
fsr-3132	48	3	popularity	popularity	NOUN
fsr-3132	48	4	of	of	ADP
fsr-3132	48	5	tdfs	tdfs	ADJ
fsr-3132	48	6	increases	increase	NOUN
fsr-3132	48	7	,	,	PUNCT
fsr-3132	48	8	there	there	PRON
fsr-3132	48	9	is	be	VERB
fsr-3132	48	10	an	an	DET
fsr-3132	48	11	emerging	emerge	VERB
fsr-3132	48	12	research	research	NOUN
fsr-3132	48	13	on	on	ADP
fsr-3132	48	14	this	this	DET
fsr-3132	48	15	topic	topic	NOUN
fsr-3132	48	16	in	in	ADP
fsr-3132	48	17	recent	recent	ADJ
fsr-3132	48	18	years	year	NOUN
fsr-3132	48	19	.	.	PUNCT
fsr-3132	49	1	studies	study	NOUN
fsr-3132	49	2	have	have	AUX
fsr-3132	49	3	been	be	AUX
fsr-3132	49	4	both	both	ADV
fsr-3132	49	5	critical	critical	ADJ
fsr-3132	49	6	of	of	ADP
fsr-3132	49	7	the	the	DET
fsr-3132	49	8	lifecycle	lifecycle	NOUN
fsr-3132	49	9	model	model	NOUN
fsr-3132	49	10	as	as	ADV
fsr-3132	49	11	well	well	ADV
fsr-3132	49	12	as	as	ADP
fsr-3132	49	13	finding	find	VERB
fsr-3132	49	14	support	support	NOUN
fsr-3132	49	15	for	for	ADP
fsr-3132	49	16	the	the	DET
fsr-3132	49	17	suitability	suitability	NOUN
fsr-3132	49	18	of	of	ADP
fsr-3132	49	19	tdf	tdf	PROPN
fsr-3132	49	20	strategy	strategy	NOUN
fsr-3132	49	21	.	.	PUNCT
fsr-3132	50	1	the	the	DET
fsr-3132	50	2	main	main	ADJ
fsr-3132	50	3	focus	focus	NOUN
fsr-3132	50	4	in	in	ADP
fsr-3132	50	5	most	most	ADJ
fsr-3132	50	6	of	of	ADP
fsr-3132	50	7	these	these	DET
fsr-3132	50	8	studies	study	NOUN
fsr-3132	50	9	has	have	AUX
fsr-3132	50	10	been	be	AUX
fsr-3132	50	11	on	on	ADP
fsr-3132	50	12	the	the	DET
fsr-3132	50	13	accumulated	accumulate	VERB
fsr-3132	50	14	wealth	wealth	NOUN
fsr-3132	50	15	by	by	ADP
fsr-3132	50	16	the	the	DET
fsr-3132	50	17	target	target	NOUN
fsr-3132	50	18	retirement	retirement	NOUN
fsr-3132	50	19	year	year	NOUN
fsr-3132	50	20	and	and	CCONJ
fsr-3132	50	21	the	the	DET
fsr-3132	50	22	appropriateness	appropriateness	NOUN
fsr-3132	50	23	of	of	ADP
fsr-3132	50	24	the	the	DET
fsr-3132	50	25	asset	asset	NOUN
fsr-3132	50	26	allocation	allocation	NOUN
fsr-3132	50	27	(	(	PUNCT
fsr-3132	50	28	see	see	VERB
fsr-3132	50	29	,	,	PUNCT
fsr-3132	50	30	for	for	ADP
fsr-3132	50	31	instance	instance	NOUN
fsr-3132	50	32	,	,	PUNCT
fsr-3132	50	33	bodie	bodie	PROPN
fsr-3132	50	34	and	and	CCONJ
fsr-3132	50	35	treussard	treussard	ADJ
fsr-3132	50	36	,	,	PUNCT
fsr-3132	50	37	2007	2007	NUM
fsr-3132	50	38	;	;	PUNCT
fsr-3132	50	39	schleef	schleef	NOUN
fsr-3132	50	40	and	and	CCONJ
fsr-3132	50	41	eisinger	eisinger	NOUN
fsr-3132	50	42	,	,	PUNCT
fsr-3132	50	43	2007	2007	NUM
fsr-3132	50	44	;	;	PUNCT
fsr-3132	50	45	basu	basu	PROPN
fsr-3132	50	46	and	and	CCONJ
fsr-3132	50	47	drew	draw	VERB
fsr-3132	50	48	,	,	PUNCT
fsr-3132	50	49	2009	2009	NUM
fsr-3132	50	50	;	;	PUNCT
fsr-3132	50	51	branch	branch	NOUN
fsr-3132	50	52	and	and	CCONJ
fsr-3132	50	53	qiu	qiu	PROPN
fsr-3132	50	54	,	,	PUNCT
fsr-3132	50	55	2011	2011	NUM
fsr-3132	50	56	)	)	PUNCT
fsr-3132	50	57	.	.	PUNCT
fsr-3132	51	1	spitzer	spitzer	PROPN
fsr-3132	51	2	and	and	CCONJ
fsr-3132	51	3	singh	singh	PROPN
fsr-3132	51	4	(	(	PUNCT
fsr-3132	51	5	2008	2008	NUM
fsr-3132	51	6	,	,	PUNCT
fsr-3132	51	7	2011	2011	NUM
fsr-3132	51	8	)	)	PUNCT
fsr-3132	51	9	analyze	analyze	VERB
fsr-3132	51	10	the	the	DET
fsr-3132	51	11	performance	performance	NOUN
fsr-3132	51	12	of	of	ADP
fsr-3132	51	13	lifecycle	lifecycle	NOUN
fsr-3132	51	14	strategies	strategy	NOUN
fsr-3132	51	15	both	both	CCONJ
fsr-3132	51	16	during	during	ADP
fsr-3132	51	17	accumulation	accumulation	NOUN
fsr-3132	51	18	period	period	NOUN
fsr-3132	51	19	and	and	CCONJ
fsr-3132	51	20	during	during	ADP
fsr-3132	51	21	retirement	retirement	NOUN
fsr-3132	51	22	,	,	PUNCT
fsr-3132	51	23	and	and	CCONJ
fsr-3132	51	24	find	find	VERB
fsr-3132	51	25	that	that	SCONJ
fsr-3132	51	26	tdf	tdf	PROPN
fsr-3132	51	27	strategies	strategy	NOUN
fsr-3132	51	28	underperform	underperform	VERB
fsr-3132	51	29	the	the	DET
fsr-3132	51	30	lifestyle	lifestyle	NOUN
fsr-3132	51	31	strategies	strategy	NOUN
fsr-3132	51	32	and	and	CCONJ
fsr-3132	51	33	are	be	AUX
fsr-3132	51	34	not	not	PART
fsr-3132	51	35	as	as	ADV
fsr-3132	51	36	safe	safe	ADJ
fsr-3132	51	37	as	as	ADP
fsr-3132	51	38	implied	imply	VERB
fsr-3132	51	39	.	.	PUNCT
fsr-3132	52	1	liu	liu	PROPN
fsr-3132	52	2	,	,	PUNCT
fsr-3132	52	3	chang	chang	PROPN
fsr-3132	52	4	,	,	PUNCT
fsr-3132	52	5	de	de	PROPN
fsr-3132	52	6	jong	jong	PROPN
fsr-3132	52	7	,	,	PUNCT
fsr-3132	52	8	and	and	CCONJ
fsr-3132	52	9	robinson	robinson	PROPN
fsr-3132	52	10	(	(	PUNCT
fsr-3132	52	11	2011	2011	NUM
fsr-3132	52	12	)	)	PUNCT
fsr-3132	52	13	evaluate	evaluate	VERB
fsr-3132	52	14	the	the	DET
fsr-3132	52	15	performance	performance	NOUN
fsr-3132	52	16	of	of	ADP
fsr-3132	52	17	the	the	DET
fsr-3132	52	18	two	two	NUM
fsr-3132	52	19	lifecycle	lifecycle	NOUN
fsr-3132	52	20	funds	fund	NOUN
fsr-3132	52	21	with	with	ADP
fsr-3132	52	22	gentle	gentle	ADJ
fsr-3132	52	23	and	and	CCONJ
fsr-3132	52	24	steep	steep	ADJ
fsr-3132	52	25	descent	descent	NOUN
fsr-3132	52	26	glide	glide	NOUN
fsr-3132	52	27	paths	path	NOUN
fsr-3132	52	28	and	and	CCONJ
fsr-3132	52	29	seven	seven	NUM
fsr-3132	52	30	lifestyle	lifestyle	NOUN
fsr-3132	52	31	funds	fund	NOUN
fsr-3132	52	32	throughout	throughout	ADP
fsr-3132	52	33	accumulation	accumulation	NOUN
fsr-3132	52	34	and	and	CCONJ
fsr-3132	52	35	withdrawal	withdrawal	NOUN
fsr-3132	52	36	phases	phase	NOUN
fsr-3132	52	37	examining	examine	VERB
fsr-3132	52	38	the	the	DET
fsr-3132	52	39	total	total	ADJ
fsr-3132	52	40	accumulated	accumulate	VERB
fsr-3132	52	41	wealth	wealth	NOUN
fsr-3132	52	42	at	at	ADP
fsr-3132	52	43	the	the	DET
fsr-3132	52	44	retirement	retirement	NOUN
fsr-3132	52	45	date	date	NOUN
fsr-3132	52	46	.	.	PUNCT
fsr-3132	53	1	they	they	PRON
fsr-3132	53	2	conclude	conclude	VERB
fsr-3132	53	3	that	that	SCONJ
fsr-3132	53	4	lifecycle	lifecycle	NOUN
fsr-3132	53	5	strategies	strategy	NOUN
fsr-3132	53	6	are	be	AUX
fsr-3132	53	7	beneficial	beneficial	ADJ
fsr-3132	53	8	to	to	ADP
fsr-3132	53	9	the	the	DET
fsr-3132	53	10	investor	investor	NOUN
fsr-3132	53	11	,	,	PUNCT
fsr-3132	53	12	especially	especially	ADV
fsr-3132	53	13	during	during	ADP
fsr-3132	53	14	the	the	DET
fsr-3132	53	15	withdrawal	withdrawal	NOUN
fsr-3132	53	16	phase	phase	NOUN
fsr-3132	53	17	.	.	PUNCT
fsr-3132	54	1	pang	pang	NOUN
fsr-3132	54	2	and	and	CCONJ
fsr-3132	54	3	warshawsky	warshawsky	NOUN
fsr-3132	54	4	(	(	PUNCT
fsr-3132	54	5	2011	2011	NUM
fsr-3132	54	6	)	)	PUNCT
fsr-3132	54	7	find	find	VERB
fsr-3132	54	8	that	that	SCONJ
fsr-3132	54	9	lifecycle	lifecycle	NOUN
fsr-3132	54	10	strategies	strategy	NOUN
fsr-3132	54	11	are	be	AUX
fsr-3132	54	12	less	less	ADV
fsr-3132	54	13	risky	risky	ADJ
fsr-3132	54	14	than	than	ADP
fsr-3132	54	15	comparable	comparable	ADJ
fsr-3132	54	16	balanced	balanced	ADJ
fsr-3132	54	17	strategies	strategy	NOUN
fsr-3132	54	18	and	and	CCONJ
fsr-3132	54	19	are	be	AUX
fsr-3132	54	20	proper	proper	ADJ
fsr-3132	54	21	for	for	ADP
fsr-3132	54	22	investors	investor	NOUN
fsr-3132	54	23	who	who	PRON
fsr-3132	54	24	wish	wish	VERB
fsr-3132	54	25	to	to	PART
fsr-3132	54	26	protect	protect	VERB
fsr-3132	54	27	their	their	PRON
fsr-3132	54	28	accumulated	accumulate	VERB
fsr-3132	54	29	funds	fund	NOUN
fsr-3132	54	30	.	.	PUNCT
fsr-3132	55	1	recent	recent	ADJ
fsr-3132	55	2	article	article	NOUN
fsr-3132	55	3	by	by	ADP
fsr-3132	55	4	lipton	lipton	PROPN
fsr-3132	55	5	and	and	CCONJ
fsr-3132	55	6	kish	kish	PROPN
fsr-3132	55	7	(	(	PUNCT
fsr-3132	55	8	2011	2011	NUM
fsr-3132	55	9	)	)	PUNCT
fsr-3132	55	10	finds	find	VERB
fsr-3132	55	11	that	that	SCONJ
fsr-3132	55	12	lifecycle	lifecycle	NOUN
fsr-3132	55	13	171r.p	171r.p	NOUN
fsr-3132	55	14	.	.	PUNCT
fsr-3132	56	1	chang	chang	PROPN
fsr-3132	56	2	et	et	PROPN
fsr-3132	56	3	al	al	PROPN
fsr-3132	56	4	.	.	PUNCT
fsr-3132	56	5	/	/	SYM
fsr-3132	56	6	financial	financial	ADJ
fsr-3132	56	7	services	service	NOUN
fsr-3132	56	8	review	review	VERB
fsr-3132	56	9	23	23	NUM
fsr-3132	56	10	(	(	PUNCT
fsr-3132	56	11	2014	2014	NUM
fsr-3132	56	12	)	)	PUNCT
fsr-3132	56	13	169–188	169–188	NUM
fsr-3132	56	14	strategies	strategy	NOUN
fsr-3132	56	15	fail	fail	VERB
fsr-3132	56	16	to	to	PART
fsr-3132	56	17	reach	reach	VERB
fsr-3132	56	18	the	the	DET
fsr-3132	56	19	benchmarks	benchmark	NOUN
fsr-3132	56	20	,	,	PUNCT
fsr-3132	56	21	and	and	CCONJ
fsr-3132	56	22	there	there	PRON
fsr-3132	56	23	is	be	VERB
fsr-3132	56	24	little	little	ADJ
fsr-3132	56	25	uniformity	uniformity	NOUN
fsr-3132	56	26	in	in	ADP
fsr-3132	56	27	allocation	allocation	NOUN
fsr-3132	56	28	and	and	CCONJ
fsr-3132	56	29	timing	timing	NOUN
fsr-3132	56	30	among	among	ADP
fsr-3132	56	31	the	the	DET
fsr-3132	56	32	tdf	tdf	PROPN
fsr-3132	56	33	families	family	NOUN
fsr-3132	56	34	.	.	PUNCT
fsr-3132	57	1	pfau	pfau	NOUN
fsr-3132	57	2	(	(	PUNCT
fsr-3132	57	3	2010	2010	NUM
fsr-3132	57	4	,	,	PUNCT
fsr-3132	57	5	2011	2011	NUM
fsr-3132	57	6	)	)	PUNCT
fsr-3132	57	7	studies	study	VERB
fsr-3132	57	8	the	the	DET
fsr-3132	57	9	utility	utility	NOUN
fsr-3132	57	10	from	from	ADP
fsr-3132	57	11	retirement	retirement	NOUN
fsr-3132	57	12	savings	saving	NOUN
fsr-3132	57	13	by	by	ADP
fsr-3132	57	14	using	use	VERB
fsr-3132	57	15	standard	standard	ADJ
fsr-3132	57	16	constant	constant	ADJ
fsr-3132	57	17	relative	relative	ADJ
fsr-3132	57	18	risk	risk	NOUN
fsr-3132	57	19	-	-	PUNCT
fsr-3132	57	20	aversion	aversion	NOUN
fsr-3132	57	21	utility	utility	NOUN
fsr-3132	57	22	function	function	NOUN
fsr-3132	57	23	.	.	PUNCT
fsr-3132	58	1	he	he	PRON
fsr-3132	58	2	focuses	focus	VERB
fsr-3132	58	3	on	on	ADP
fsr-3132	58	4	four	four	NUM
fsr-3132	58	5	different	different	ADJ
fsr-3132	58	6	lifecycle	lifecycle	NOUN
fsr-3132	58	7	strategies	strategy	NOUN
fsr-3132	58	8	and	and	CCONJ
fsr-3132	58	9	compares	compare	VERB
fsr-3132	58	10	them	they	PRON
fsr-3132	58	11	to	to	ADP
fsr-3132	58	12	11	11	NUM
fsr-3132	58	13	lifestyle	lifestyle	NOUN
fsr-3132	58	14	strategies	strategy	NOUN
fsr-3132	58	15	,	,	PUNCT
fsr-3132	58	16	and	and	CCONJ
fsr-3132	58	17	finds	find	VERB
fsr-3132	58	18	that	that	SCONJ
fsr-3132	58	19	investors	investor	NOUN
fsr-3132	58	20	with	with	ADP
fsr-3132	58	21	moderate	moderate	ADJ
fsr-3132	58	22	risk	risk	NOUN
fsr-3132	58	23	aversion	aversion	NOUN
fsr-3132	58	24	will	will	AUX
fsr-3132	58	25	reach	reach	VERB
fsr-3132	58	26	higher	high	ADJ
fsr-3132	58	27	expected	expect	VERB
fsr-3132	58	28	utility	utility	NOUN
fsr-3132	58	29	from	from	ADP
fsr-3132	58	30	investing	invest	VERB
fsr-3132	58	31	their	their	PRON
fsr-3132	58	32	retirement	retirement	NOUN
fsr-3132	58	33	savings	saving	NOUN
fsr-3132	58	34	in	in	ADP
fsr-3132	58	35	tdf	tdf	PROPN
fsr-3132	58	36	strategy	strategy	NOUN
fsr-3132	58	37	than	than	ADP
fsr-3132	58	38	fixed	fix	VERB
fsr-3132	58	39	asset	asset	NOUN
fsr-3132	58	40	allocation	allocation	NOUN
fsr-3132	58	41	strategy	strategy	NOUN
fsr-3132	58	42	.	.	PUNCT
fsr-3132	59	1	this	this	DET
fsr-3132	59	2	article	article	NOUN
fsr-3132	59	3	extends	extend	VERB
fsr-3132	59	4	the	the	DET
fsr-3132	59	5	existing	exist	VERB
fsr-3132	59	6	literature	literature	NOUN
fsr-3132	59	7	by	by	ADP
fsr-3132	59	8	incorporating	incorporate	VERB
fsr-3132	59	9	investor	investor	NOUN
fsr-3132	59	10	’s	’s	PART
fsr-3132	59	11	increasing	increase	VERB
fsr-3132	59	12	risk	risk	NOUN
fsr-3132	59	13	aversion	aversion	NOUN
fsr-3132	59	14	and	and	CCONJ
fsr-3132	59	15	loss	loss	NOUN
fsr-3132	59	16	aversion	aversion	NOUN
fsr-3132	59	17	into	into	ADP
fsr-3132	59	18	the	the	DET
fsr-3132	59	19	expected	expect	VERB
fsr-3132	59	20	utility	utility	NOUN
fsr-3132	59	21	framework	framework	NOUN
fsr-3132	59	22	introduced	introduce	VERB
fsr-3132	59	23	in	in	ADP
fsr-3132	59	24	pfau	pfau	NOUN
fsr-3132	59	25	(	(	PUNCT
fsr-3132	59	26	2010	2010	NUM
fsr-3132	59	27	,	,	PUNCT
fsr-3132	59	28	2011	2011	NUM
fsr-3132	59	29	)	)	PUNCT
fsr-3132	59	30	.	.	PUNCT
fsr-3132	60	1	we	we	PRON
fsr-3132	60	2	also	also	ADV
fsr-3132	60	3	include	include	VERB
fsr-3132	60	4	in	in	ADP
fsr-3132	60	5	our	our	PRON
fsr-3132	60	6	analysis	analysis	NOUN
fsr-3132	60	7	a	a	DET
fsr-3132	60	8	wider	wide	ADJ
fsr-3132	60	9	range	range	NOUN
fsr-3132	60	10	of	of	ADP
fsr-3132	60	11	real	real	ADJ
fsr-3132	60	12	-	-	PUNCT
fsr-3132	60	13	world	world	NOUN
fsr-3132	60	14	lifecycle	lifecycle	NOUN
fsr-3132	60	15	and	and	CCONJ
fsr-3132	60	16	lifestyle	lifestyle	NOUN
fsr-3132	60	17	strategies	strategy	NOUN
fsr-3132	60	18	and	and	CCONJ
fsr-3132	60	19	examine	examine	VERB
fsr-3132	60	20	the	the	DET
fsr-3132	60	21	lifecycle	lifecycle	NOUN
fsr-3132	60	22	strategy	strategy	NOUN
fsr-3132	60	23	with	with	ADP
fsr-3132	60	24	the	the	DET
fsr-3132	60	25	highest	high	ADJ
fsr-3132	60	26	expected	expect	VERB
fsr-3132	60	27	utility	utility	NOUN
fsr-3132	60	28	in	in	ADP
fsr-3132	60	29	theory	theory	NOUN
fsr-3132	60	30	from	from	ADP
fsr-3132	60	31	bootstrapping	bootstrappe	VERB
fsr-3132	60	32	simulations	simulation	NOUN
fsr-3132	60	33	.	.	PUNCT
fsr-3132	61	1	our	our	PRON
fsr-3132	61	2	results	result	NOUN
fsr-3132	61	3	suggest	suggest	VERB
fsr-3132	61	4	that	that	SCONJ
fsr-3132	61	5	for	for	ADP
fsr-3132	61	6	the	the	DET
fsr-3132	61	7	representative	representative	ADJ
fsr-3132	61	8	investor	investor	NOUN
fsr-3132	61	9	there	there	ADV
fsr-3132	61	10	always	always	ADV
fsr-3132	61	11	exists	exist	VERB
fsr-3132	61	12	a	a	DET
fsr-3132	61	13	tdf	tdf	NOUN
fsr-3132	61	14	strategy	strategy	NOUN
fsr-3132	61	15	that	that	PRON
fsr-3132	61	16	generates	generate	VERB
fsr-3132	61	17	higher	high	ADJ
fsr-3132	61	18	lifetime	lifetime	NOUN
fsr-3132	61	19	utility	utility	NOUN
fsr-3132	61	20	than	than	ADP
fsr-3132	61	21	those	those	PRON
fsr-3132	61	22	from	from	ADP
fsr-3132	61	23	the	the	DET
fsr-3132	61	24	conventional	conventional	ADJ
fsr-3132	61	25	lifestyle	lifestyle	NOUN
fsr-3132	61	26	strategies	strategy	NOUN
fsr-3132	61	27	.	.	PUNCT
fsr-3132	62	1	we	we	PRON
fsr-3132	62	2	also	also	ADV
fsr-3132	62	3	find	find	VERB
fsr-3132	62	4	that	that	SCONJ
fsr-3132	62	5	tdfs	tdfs	NOUN
fsr-3132	62	6	are	be	AUX
fsr-3132	62	7	not	not	PART
fsr-3132	62	8	one	one	NUM
fsr-3132	62	9	-	-	PUNCT
fsr-3132	62	10	size	size	NOUN
fsr-3132	62	11	-	-	PUNCT
fsr-3132	62	12	fits	fit	VERB
fsr-3132	62	13	-	-	PUNCT
fsr-3132	62	14	all	all	PRON
fsr-3132	62	15	solution	solution	NOUN
fsr-3132	62	16	.	.	PUNCT
fsr-3132	63	1	although	although	SCONJ
fsr-3132	63	2	many	many	ADJ
fsr-3132	63	3	tdf	tdf	NOUN
fsr-3132	63	4	strategies	strategy	NOUN
fsr-3132	63	5	already	already	ADV
fsr-3132	63	6	exist	exist	VERB
fsr-3132	63	7	in	in	ADP
fsr-3132	63	8	the	the	DET
fsr-3132	63	9	market	market	NOUN
fsr-3132	63	10	,	,	PUNCT
fsr-3132	63	11	they	they	PRON
fsr-3132	63	12	may	may	AUX
fsr-3132	63	13	not	not	PART
fsr-3132	63	14	be	be	AUX
fsr-3132	63	15	optimal	optimal	ADJ
fsr-3132	63	16	to	to	ADP
fsr-3132	63	17	utility	utility	NOUN
fsr-3132	63	18	-	-	PUNCT
fsr-3132	63	19	maximizing	maximize	VERB
fsr-3132	63	20	investors	investor	NOUN
fsr-3132	63	21	.	.	PUNCT
fsr-3132	64	1	investors	investor	NOUN
fsr-3132	64	2	who	who	PRON
fsr-3132	64	3	are	be	AUX
fsr-3132	64	4	less	less	ADJ
fsr-3132	64	5	risk	risk	NOUN
fsr-3132	64	6	tolerant	tolerant	ADJ
fsr-3132	64	7	need	need	VERB
fsr-3132	64	8	a	a	DET
fsr-3132	64	9	tdf	tdf	NOUN
fsr-3132	64	10	strategy	strategy	NOUN
fsr-3132	64	11	that	that	PRON
fsr-3132	64	12	starts	start	VERB
fsr-3132	64	13	at	at	ADP
fsr-3132	64	14	lower	low	ADJ
fsr-3132	64	15	levels	level	NOUN
fsr-3132	64	16	of	of	ADP
fsr-3132	64	17	equity	equity	NOUN
fsr-3132	64	18	in	in	ADP
fsr-3132	64	19	the	the	DET
fsr-3132	64	20	portfolio	portfolio	NOUN
fsr-3132	64	21	.	.	PUNCT
fsr-3132	65	1	financial	financial	ADJ
fsr-3132	65	2	advisers	adviser	NOUN
fsr-3132	65	3	and	and	CCONJ
fsr-3132	65	4	plan	plan	NOUN
fsr-3132	65	5	sponsors	sponsor	NOUN
fsr-3132	65	6	should	should	AUX
fsr-3132	65	7	take	take	VERB
fsr-3132	65	8	into	into	ADP
fsr-3132	65	9	account	account	NOUN
fsr-3132	65	10	the	the	DET
fsr-3132	65	11	risk	risk	NOUN
fsr-3132	65	12	tolerance	tolerance	NOUN
fsr-3132	65	13	profiles	profile	NOUN
fsr-3132	65	14	of	of	ADP
fsr-3132	65	15	individual	individual	ADJ
fsr-3132	65	16	investors	investor	NOUN
fsr-3132	65	17	to	to	PART
fsr-3132	65	18	make	make	VERB
fsr-3132	65	19	sure	sure	ADJ
fsr-3132	65	20	the	the	DET
fsr-3132	65	21	chosen	choose	VERB
fsr-3132	65	22	tdf	tdf	PROPN
fsr-3132	65	23	strategy	strategy	NOUN
fsr-3132	65	24	is	be	AUX
fsr-3132	65	25	a	a	DET
fsr-3132	65	26	good	good	ADJ
fsr-3132	65	27	fit	fit	NOUN
fsr-3132	65	28	.	.	PUNCT
fsr-3132	66	1	2	2	X
fsr-3132	66	2	.	.	X
fsr-3132	66	3	data	datum	NOUN
fsr-3132	66	4	and	and	CCONJ
fsr-3132	66	5	methodology	methodology	NOUN
fsr-3132	66	6	2.1	2.1	NUM
fsr-3132	66	7	.	.	PUNCT
fsr-3132	67	1	mean	mean	ADJ
fsr-3132	67	2	-	-	PUNCT
fsr-3132	67	3	variance	variance	NOUN
fsr-3132	67	4	utility	utility	NOUN
fsr-3132	67	5	model	model	NOUN
fsr-3132	67	6	the	the	DET
fsr-3132	67	7	objective	objective	NOUN
fsr-3132	67	8	of	of	ADP
fsr-3132	67	9	this	this	DET
fsr-3132	67	10	article	article	NOUN
fsr-3132	67	11	is	be	AUX
fsr-3132	67	12	to	to	PART
fsr-3132	67	13	evaluate	evaluate	VERB
fsr-3132	67	14	the	the	DET
fsr-3132	67	15	accumulation	accumulation	NOUN
fsr-3132	67	16	period	period	NOUN
fsr-3132	67	17	utility	utility	NOUN
fsr-3132	67	18	of	of	ADP
fsr-3132	67	19	investors	investor	NOUN
fsr-3132	67	20	with	with	ADP
fsr-3132	67	21	similar	similar	ADJ
fsr-3132	67	22	,	,	PUNCT
fsr-3132	67	23	but	but	CCONJ
fsr-3132	67	24	uniquely	uniquely	ADV
fsr-3132	67	25	different	different	ADJ
fsr-3132	67	26	perceptions	perception	NOUN
fsr-3132	67	27	about	about	ADP
fsr-3132	67	28	risk	risk	NOUN
fsr-3132	67	29	from	from	ADP
fsr-3132	67	30	different	different	ADJ
fsr-3132	67	31	portfolio	portfolio	NOUN
fsr-3132	67	32	strategies	strategy	NOUN
fsr-3132	67	33	.	.	PUNCT
fsr-3132	68	1	our	our	PRON
fsr-3132	68	2	first	first	ADJ
fsr-3132	68	3	analysis	analysis	NOUN
fsr-3132	68	4	assumes	assume	VERB
fsr-3132	68	5	that	that	SCONJ
fsr-3132	68	6	the	the	DET
fsr-3132	68	7	investor	investor	NOUN
fsr-3132	68	8	’s	’s	PART
fsr-3132	68	9	risk	risk	NOUN
fsr-3132	68	10	aversion	aversion	NOUN
fsr-3132	68	11	increases	increase	NOUN
fsr-3132	68	12	as	as	SCONJ
fsr-3132	68	13	she	she	PRON
fsr-3132	68	14	gets	get	VERB
fsr-3132	68	15	older	old	ADJ
fsr-3132	68	16	.	.	PUNCT
fsr-3132	69	1	in	in	ADP
fsr-3132	69	2	the	the	DET
fsr-3132	69	3	second	second	ADJ
fsr-3132	69	4	model	model	NOUN
fsr-3132	69	5	we	we	PRON
fsr-3132	69	6	also	also	ADV
fsr-3132	69	7	assume	assume	VERB
fsr-3132	69	8	that	that	SCONJ
fsr-3132	69	9	the	the	DET
fsr-3132	69	10	investor	investor	NOUN
fsr-3132	69	11	becomes	become	VERB
fsr-3132	69	12	more	more	ADJ
fsr-3132	69	13	risk	risk	NOUN
fsr-3132	69	14	averse	averse	ADJ
fsr-3132	69	15	as	as	SCONJ
fsr-3132	69	16	she	she	PRON
fsr-3132	69	17	experiences	experience	VERB
fsr-3132	69	18	losses	loss	NOUN
fsr-3132	69	19	.	.	PUNCT
fsr-3132	70	1	based	base	VERB
fsr-3132	70	2	on	on	ADP
fsr-3132	70	3	these	these	DET
fsr-3132	70	4	assumptions	assumption	NOUN
fsr-3132	70	5	we	we	PRON
fsr-3132	70	6	look	look	VERB
fsr-3132	70	7	at	at	ADP
fsr-3132	70	8	how	how	SCONJ
fsr-3132	70	9	the	the	DET
fsr-3132	70	10	change	change	NOUN
fsr-3132	70	11	in	in	ADP
fsr-3132	70	12	risk	risk	NOUN
fsr-3132	70	13	aversion	aversion	NOUN
fsr-3132	70	14	over	over	ADP
fsr-3132	70	15	the	the	DET
fsr-3132	70	16	accumulation	accumulation	NOUN
fsr-3132	70	17	period	period	NOUN
fsr-3132	70	18	and	and	CCONJ
fsr-3132	70	19	the	the	DET
fsr-3132	70	20	portfolio	portfolio	NOUN
fsr-3132	70	21	composition	composition	NOUN
fsr-3132	70	22	affect	affect	VERB
fsr-3132	70	23	the	the	DET
fsr-3132	70	24	investor	investor	NOUN
fsr-3132	70	25	’s	’s	PART
fsr-3132	70	26	expected	expect	VERB
fsr-3132	70	27	utility	utility	NOUN
fsr-3132	70	28	.	.	PUNCT
fsr-3132	71	1	more	more	ADV
fsr-3132	71	2	specifically	specifically	ADV
fsr-3132	71	3	,	,	PUNCT
fsr-3132	71	4	do	do	AUX
fsr-3132	71	5	lifecycle	lifecycle	NOUN
fsr-3132	71	6	strategies	strategy	NOUN
fsr-3132	71	7	yield	yield	VERB
fsr-3132	71	8	higher	high	ADJ
fsr-3132	71	9	expected	expect	VERB
fsr-3132	71	10	utility	utility	NOUN
fsr-3132	71	11	compared	compare	VERB
fsr-3132	71	12	with	with	ADP
fsr-3132	71	13	lifestyle	lifestyle	NOUN
fsr-3132	71	14	strategies	strategy	NOUN
fsr-3132	71	15	for	for	ADP
fsr-3132	71	16	the	the	DET
fsr-3132	71	17	utility	utility	NOUN
fsr-3132	71	18	-	-	PUNCT
fsr-3132	71	19	maximizing	maximize	VERB
fsr-3132	71	20	investor	investor	NOUN
fsr-3132	71	21	who	who	PRON
fsr-3132	71	22	becomes	become	VERB
fsr-3132	71	23	more	more	ADJ
fsr-3132	71	24	risk	risk	NOUN
fsr-3132	71	25	averse	averse	ADJ
fsr-3132	71	26	as	as	SCONJ
fsr-3132	71	27	she	she	PRON
fsr-3132	71	28	gets	get	VERB
fsr-3132	71	29	older	old	ADJ
fsr-3132	71	30	?	?	PUNCT
fsr-3132	72	1	we	we	PRON
fsr-3132	72	2	use	use	VERB
fsr-3132	72	3	the	the	DET
fsr-3132	72	4	expected	expect	VERB
fsr-3132	72	5	utility	utility	NOUN
fsr-3132	72	6	in	in	ADP
fsr-3132	72	7	the	the	DET
fsr-3132	72	8	accumulation	accumulation	NOUN
fsr-3132	72	9	period	period	NOUN
fsr-3132	72	10	to	to	PART
fsr-3132	72	11	compare	compare	VERB
fsr-3132	72	12	the	the	DET
fsr-3132	72	13	differences	difference	NOUN
fsr-3132	72	14	between	between	ADP
fsr-3132	72	15	lifecycle	lifecycle	NOUN
fsr-3132	72	16	and	and	CCONJ
fsr-3132	72	17	lifestyle	lifestyle	NOUN
fsr-3132	72	18	strategies	strategy	NOUN
fsr-3132	72	19	for	for	ADP
fsr-3132	72	20	a	a	DET
fsr-3132	72	21	representative	representative	ADJ
fsr-3132	72	22	investor	investor	NOUN
fsr-3132	72	23	who	who	PRON
fsr-3132	72	24	becomes	become	VERB
fsr-3132	72	25	less	less	ADJ
fsr-3132	72	26	risk	risk	NOUN
fsr-3132	72	27	tolerant	tolerant	ADJ
fsr-3132	72	28	as	as	SCONJ
fsr-3132	72	29	she	she	PRON
fsr-3132	72	30	gets	get	VERB
fsr-3132	72	31	older	old	ADJ
fsr-3132	72	32	.	.	PUNCT
fsr-3132	73	1	at	at	ADP
fsr-3132	73	2	any	any	DET
fsr-3132	73	3	month	month	NOUN
fsr-3132	73	4	t	t	NOUN
fsr-3132	73	5	,	,	PUNCT
fsr-3132	73	6	we	we	PRON
fsr-3132	73	7	express	express	VERB
fsr-3132	73	8	the	the	DET
fsr-3132	73	9	utility	utility	NOUN
fsr-3132	73	10	of	of	ADP
fsr-3132	73	11	the	the	DET
fsr-3132	73	12	representative	representative	ADJ
fsr-3132	73	13	investor	investor	NOUN
fsr-3132	73	14	using	use	VERB
fsr-3132	73	15	the	the	DET
fsr-3132	73	16	mean	mean	ADJ
fsr-3132	73	17	-	-	PUNCT
fsr-3132	73	18	variance	variance	NOUN
fsr-3132	73	19	model	model	NOUN
fsr-3132	73	20	adopted	adopt	VERB
fsr-3132	73	21	by	by	ADP
fsr-3132	73	22	friend	friend	NOUN
fsr-3132	73	23	and	and	CCONJ
fsr-3132	73	24	blume	blume	PROPN
fsr-3132	73	25	(	(	PUNCT
fsr-3132	73	26	1975	1975	NUM
fsr-3132	73	27	):	):	PUNCT
fsr-3132	74	1	ut	ut	PROPN
fsr-3132	74	2	�	�	PROPN
fsr-3132	74	3	e	e	PROPN
fsr-3132	74	4	�	�	PROPN
fsr-3132	74	5	rp	rp	NOUN
fsr-3132	74	6	,	,	PUNCT
fsr-3132	74	7	t	t	PROPN
fsr-3132	74	8	�	�	PROPN
fsr-3132	74	9	�	�	PROPN
fsr-3132	74	10	1	1	NUM
fsr-3132	74	11	2	2	NUM
fsr-3132	74	12	at	at	ADP
fsr-3132	74	13	�	�	PROPN
fsr-3132	74	14	p	p	PROPN
fsr-3132	74	15	,	,	PUNCT
fsr-3132	74	16	t	t	PROPN
fsr-3132	74	17	2	2	NUM
fsr-3132	74	18	(	(	PUNCT
fsr-3132	74	19	1	1	NUM
fsr-3132	74	20	)	)	PUNCT
fsr-3132	74	21	where	where	SCONJ
fsr-3132	74	22	rp	rp	NOUN
fsr-3132	74	23	,	,	PUNCT
fsr-3132	74	24	t,	t,	PROPN
fsr-3132	74	25	�	�	NOUN
fsr-3132	74	26	p	p	NOUN
fsr-3132	74	27	,	,	PUNCT
fsr-3132	74	28	t	t	PROPN
fsr-3132	74	29	are	be	AUX
fsr-3132	74	30	the	the	DET
fsr-3132	74	31	return	return	NOUN
fsr-3132	74	32	and	and	CCONJ
fsr-3132	74	33	variance	variance	NOUN
fsr-3132	74	34	of	of	ADP
fsr-3132	74	35	the	the	DET
fsr-3132	74	36	portfolio	portfolio	NOUN
fsr-3132	74	37	that	that	SCONJ
fsr-3132	74	38	the	the	DET
fsr-3132	74	39	investor	investor	NOUN
fsr-3132	74	40	holds	hold	VERB
fsr-3132	74	41	,	,	PUNCT
fsr-3132	74	42	and	and	CCONJ
fsr-3132	74	43	at	at	ADP
fsr-3132	74	44	is	be	AUX
fsr-3132	74	45	arrow	arrow	NOUN
fsr-3132	74	46	and	and	CCONJ
fsr-3132	74	47	pratt	pratt	PROPN
fsr-3132	74	48	’s	’s	PART
fsr-3132	74	49	measure	measure	NOUN
fsr-3132	74	50	of	of	ADP
fsr-3132	74	51	relative	relative	ADJ
fsr-3132	74	52	risk	risk	NOUN
fsr-3132	74	53	aversion	aversion	NOUN
fsr-3132	74	54	at	at	ADP
fsr-3132	74	55	month	month	NOUN
fsr-3132	74	56	t.5	t.5	NOUN
fsr-3132	74	57	this	this	DET
fsr-3132	74	58	mean	mean	ADJ
fsr-3132	74	59	-	-	PUNCT
fsr-3132	74	60	variance	variance	NOUN
fsr-3132	74	61	model	model	NOUN
fsr-3132	74	62	can	can	AUX
fsr-3132	74	63	be	be	AUX
fsr-3132	74	64	motivated	motivate	VERB
fsr-3132	74	65	by	by	ADP
fsr-3132	74	66	assuming	assume	VERB
fsr-3132	74	67	quadratic	quadratic	ADJ
fsr-3132	74	68	utility	utility	NOUN
fsr-3132	74	69	for	for	ADP
fsr-3132	74	70	arbitrary	arbitrary	ADJ
fsr-3132	74	71	distributions	distribution	NOUN
fsr-3132	74	72	,	,	PUNCT
fsr-3132	74	73	or	or	CCONJ
fsr-3132	74	74	assuming	assume	VERB
fsr-3132	74	75	that	that	SCONJ
fsr-3132	74	76	the	the	DET
fsr-3132	74	77	return	return	NOUN
fsr-3132	74	78	of	of	ADP
fsr-3132	74	79	the	the	DET
fsr-3132	74	80	risky	risky	ADJ
fsr-3132	74	81	portfolio	portfolio	NOUN
fsr-3132	74	82	is	be	AUX
fsr-3132	74	83	normally	normally	ADV
fsr-3132	74	84	distributed	distribute	VERB
fsr-3132	74	85	for	for	ADP
fsr-3132	74	86	arbitrary	arbitrary	ADJ
fsr-3132	74	87	preferences	preference	NOUN
fsr-3132	74	88	(	(	PUNCT
fsr-3132	74	89	huang	huang	PROPN
fsr-3132	74	90	and	and	CCONJ
fsr-3132	74	91	172	172	NUM
fsr-3132	74	92	r.p	r.p	PROPN
fsr-3132	74	93	.	.	PROPN
fsr-3132	75	1	chang	chang	PROPN
fsr-3132	75	2	et	et	PROPN
fsr-3132	75	3	al	al	PROPN
fsr-3132	75	4	.	.	PUNCT
fsr-3132	75	5	/	/	SYM
fsr-3132	75	6	financial	financial	ADJ
fsr-3132	75	7	services	service	NOUN
fsr-3132	75	8	review	review	VERB
fsr-3132	75	9	23	23	NUM
fsr-3132	75	10	(	(	PUNCT
fsr-3132	75	11	2014	2014	NUM
fsr-3132	75	12	)	)	PUNCT
fsr-3132	75	13	169–188	169–188	NUM
fsr-3132	75	14	litzenberger	litzenberger	NOUN
fsr-3132	75	15	,	,	PUNCT
fsr-3132	75	16	1988	1988	NUM
fsr-3132	75	17	)	)	PUNCT
fsr-3132	75	18	.	.	PUNCT
fsr-3132	76	1	we	we	PRON
fsr-3132	76	2	calculate	calculate	VERB
fsr-3132	76	3	monthly	monthly	ADJ
fsr-3132	76	4	utilities	utility	NOUN
fsr-3132	76	5	for	for	ADP
fsr-3132	76	6	the	the	DET
fsr-3132	76	7	representative	representative	ADJ
fsr-3132	76	8	investor	investor	NOUN
fsr-3132	76	9	with	with	ADP
fsr-3132	76	10	different	different	ADJ
fsr-3132	76	11	scales	scale	NOUN
fsr-3132	76	12	of	of	ADP
fsr-3132	76	13	risk	risk	NOUN
fsr-3132	76	14	aversion	aversion	NOUN
fsr-3132	76	15	.	.	PUNCT
fsr-3132	77	1	many	many	ADJ
fsr-3132	77	2	articles	article	NOUN
fsr-3132	77	3	have	have	AUX
fsr-3132	77	4	studied	study	VERB
fsr-3132	77	5	the	the	DET
fsr-3132	77	6	value	value	NOUN
fsr-3132	77	7	of	of	ADP
fsr-3132	77	8	the	the	DET
fsr-3132	77	9	risk	risk	NOUN
fsr-3132	77	10	aversion	aversion	NOUN
fsr-3132	77	11	coefficient	coefficient	NOUN
fsr-3132	77	12	using	use	VERB
fsr-3132	77	13	theoretical	theoretical	ADJ
fsr-3132	77	14	models	model	NOUN
fsr-3132	77	15	and	and	CCONJ
fsr-3132	77	16	experimental	experimental	ADJ
fsr-3132	77	17	frameworks	framework	NOUN
fsr-3132	77	18	,	,	PUNCT
fsr-3132	77	19	resulting	result	VERB
fsr-3132	77	20	in	in	ADP
fsr-3132	77	21	a	a	DET
fsr-3132	77	22	wide	wide	ADJ
fsr-3132	77	23	range	range	NOUN
fsr-3132	77	24	of	of	ADP
fsr-3132	77	25	results	result	NOUN
fsr-3132	77	26	.	.	PUNCT
fsr-3132	78	1	the	the	DET
fsr-3132	78	2	majority	majority	NOUN
fsr-3132	78	3	of	of	ADP
fsr-3132	78	4	the	the	DET
fsr-3132	78	5	studies	study	NOUN
fsr-3132	78	6	conclude	conclude	VERB
fsr-3132	78	7	that	that	SCONJ
fsr-3132	78	8	the	the	DET
fsr-3132	78	9	value	value	NOUN
fsr-3132	78	10	of	of	ADP
fsr-3132	78	11	a	a	DET
fsr-3132	78	12	relative	relative	ADJ
fsr-3132	78	13	risk	risk	NOUN
fsr-3132	78	14	aversion	aversion	NOUN
fsr-3132	78	15	coefficient	coefficient	NOUN
fsr-3132	78	16	is	be	AUX
fsr-3132	78	17	somewhere	somewhere	ADV
fsr-3132	78	18	between	between	ADP
fsr-3132	78	19	0	0	NUM
fsr-3132	78	20	and	and	CCONJ
fsr-3132	78	21	5	5	NUM
fsr-3132	78	22	,	,	PUNCT
fsr-3132	78	23	and	and	CCONJ
fsr-3132	78	24	2	2	NUM
fsr-3132	78	25	to	to	ADP
fsr-3132	78	26	4	4	NUM
fsr-3132	78	27	for	for	ADP
fsr-3132	78	28	a	a	DET
fsr-3132	78	29	typical	typical	ADJ
fsr-3132	78	30	investor	investor	NOUN
fsr-3132	78	31	.	.	PUNCT
fsr-3132	79	1	for	for	ADP
fsr-3132	79	2	example	example	NOUN
fsr-3132	79	3	,	,	PUNCT
fsr-3132	79	4	friend	friend	NOUN
fsr-3132	79	5	and	and	CCONJ
fsr-3132	79	6	blume	blume	PROPN
fsr-3132	79	7	(	(	PUNCT
fsr-3132	79	8	1975	1975	NUM
fsr-3132	79	9	)	)	PUNCT
fsr-3132	79	10	estimate	estimate	VERB
fsr-3132	79	11	that	that	SCONJ
fsr-3132	79	12	a	a	DET
fsr-3132	79	13	coefficient	coefficient	NOUN
fsr-3132	79	14	of	of	ADP
fsr-3132	79	15	relative	relative	ADJ
fsr-3132	79	16	risk	risk	NOUN
fsr-3132	79	17	aversion	aversion	NOUN
fsr-3132	79	18	is	be	AUX
fsr-3132	79	19	about	about	ADV
fsr-3132	79	20	2	2	NUM
fsr-3132	79	21	assuming	assume	VERB
fsr-3132	79	22	stock	stock	NOUN
fsr-3132	79	23	returns	return	NOUN
fsr-3132	79	24	are	be	AUX
fsr-3132	79	25	the	the	DET
fsr-3132	79	26	only	only	ADJ
fsr-3132	79	27	stochastic	stochastic	ADJ
fsr-3132	79	28	component	component	NOUN
fsr-3132	79	29	of	of	ADP
fsr-3132	79	30	wealth	wealth	NOUN
fsr-3132	79	31	.	.	PUNCT
fsr-3132	80	1	grossman	grossman	PROPN
fsr-3132	80	2	and	and	CCONJ
fsr-3132	80	3	shiller	shiller	PROPN
fsr-3132	80	4	(	(	PUNCT
fsr-3132	80	5	1981	1981	NUM
fsr-3132	80	6	)	)	PUNCT
fsr-3132	80	7	find	find	VERB
fsr-3132	80	8	the	the	DET
fsr-3132	80	9	coefficient	coefficient	NOUN
fsr-3132	80	10	of	of	ADP
fsr-3132	80	11	relative	relative	ADJ
fsr-3132	80	12	risk	risk	NOUN
fsr-3132	80	13	aversion	aversion	NOUN
fsr-3132	80	14	has	have	VERB
fsr-3132	80	15	to	to	PART
fsr-3132	80	16	be	be	AUX
fsr-3132	80	17	at	at	ADV
fsr-3132	80	18	least	least	ADJ
fsr-3132	80	19	4	4	NUM
fsr-3132	80	20	to	to	PART
fsr-3132	80	21	explain	explain	VERB
fsr-3132	80	22	the	the	DET
fsr-3132	80	23	variability	variability	NOUN
fsr-3132	80	24	in	in	ADP
fsr-3132	80	25	stock	stock	NOUN
fsr-3132	80	26	prices	price	NOUN
fsr-3132	80	27	.	.	PUNCT
fsr-3132	81	1	pålsson	pålsson	NOUN
fsr-3132	81	2	(	(	PUNCT
fsr-3132	81	3	1996	1996	NUM
fsr-3132	81	4	)	)	PUNCT
fsr-3132	81	5	finds	find	VERB
fsr-3132	81	6	the	the	DET
fsr-3132	81	7	range	range	NOUN
fsr-3132	81	8	for	for	ADP
fsr-3132	81	9	the	the	DET
fsr-3132	81	10	coefficient	coefficient	NOUN
fsr-3132	81	11	of	of	ADP
fsr-3132	81	12	relative	relative	ADJ
fsr-3132	81	13	risk	risk	NOUN
fsr-3132	81	14	aversion	aversion	NOUN
fsr-3132	81	15	is	be	AUX
fsr-3132	81	16	between	between	ADP
fsr-3132	81	17	2	2	NUM
fsr-3132	81	18	and	and	CCONJ
fsr-3132	81	19	4	4	NUM
fsr-3132	81	20	.	.	X
fsr-3132	82	1	in	in	ADP
fsr-3132	82	2	our	our	PRON
fsr-3132	82	3	analysis	analysis	NOUN
fsr-3132	82	4	we	we	PRON
fsr-3132	82	5	assume	assume	VERB
fsr-3132	82	6	that	that	SCONJ
fsr-3132	82	7	for	for	ADP
fsr-3132	82	8	the	the	DET
fsr-3132	82	9	representative	representative	ADJ
fsr-3132	82	10	investor	investor	NOUN
fsr-3132	82	11	the	the	DET
fsr-3132	82	12	risk	risk	NOUN
fsr-3132	82	13	aversion	aversion	NOUN
fsr-3132	82	14	level	level	NOUN
fsr-3132	82	15	starts	start	VERB
fsr-3132	82	16	from	from	ADP
fsr-3132	82	17	zero	zero	NUM
fsr-3132	82	18	to	to	ADP
fsr-3132	82	19	2	2	NUM
fsr-3132	82	20	at	at	ADP
fsr-3132	82	21	the	the	DET
fsr-3132	82	22	beginning	beginning	NOUN
fsr-3132	82	23	of	of	ADP
fsr-3132	82	24	the	the	DET
fsr-3132	82	25	accumulation	accumulation	NOUN
fsr-3132	82	26	period	period	NOUN
fsr-3132	82	27	,	,	PUNCT
fsr-3132	82	28	and	and	CCONJ
fsr-3132	82	29	ends	end	VERB
fsr-3132	82	30	between	between	ADP
fsr-3132	82	31	4	4	NUM
fsr-3132	82	32	and	and	CCONJ
fsr-3132	82	33	6	6	NUM
fsr-3132	82	34	at	at	ADP
fsr-3132	82	35	the	the	DET
fsr-3132	82	36	target	target	NOUN
fsr-3132	82	37	retirement	retirement	NOUN
fsr-3132	82	38	year.6	year.6	NOUN
fsr-3132	82	39	the	the	DET
fsr-3132	82	40	expected	expect	VERB
fsr-3132	82	41	utility	utility	NOUN
fsr-3132	82	42	for	for	ADP
fsr-3132	82	43	all	all	DET
fsr-3132	82	44	these	these	DET
fsr-3132	82	45	different	different	ADJ
fsr-3132	82	46	risk	risk	NOUN
fsr-3132	82	47	aversion	aversion	NOUN
fsr-3132	82	48	ranges	range	NOUN
fsr-3132	82	49	is	be	AUX
fsr-3132	82	50	calculated	calculate	VERB
fsr-3132	82	51	for	for	ADP
fsr-3132	82	52	the	the	DET
fsr-3132	82	53	finite	finite	ADJ
fsr-3132	82	54	number	number	NOUN
fsr-3132	82	55	of	of	ADP
fsr-3132	82	56	portfolio	portfolio	NOUN
fsr-3132	82	57	strategies	strategy	NOUN
fsr-3132	82	58	based	base	VERB
fsr-3132	82	59	on	on	ADP
fsr-3132	82	60	equity	equity	NOUN
fsr-3132	82	61	/	/	SYM
fsr-3132	82	62	bond	bond	NOUN
fsr-3132	82	63	mix	mix	NOUN
fsr-3132	82	64	.	.	PUNCT
fsr-3132	83	1	the	the	DET
fsr-3132	83	2	expected	expect	VERB
fsr-3132	83	3	utility	utility	NOUN
fsr-3132	83	4	for	for	ADP
fsr-3132	83	5	the	the	DET
fsr-3132	83	6	whole	whole	ADJ
fsr-3132	83	7	accumulation	accumulation	NOUN
fsr-3132	83	8	period	period	NOUN
fsr-3132	83	9	(	(	PUNCT
fsr-3132	83	10	e.g.	e.g.	ADV
fsr-3132	83	11	,	,	PUNCT
fsr-3132	83	12	40	40	NUM
fsr-3132	83	13	years	year	NOUN
fsr-3132	83	14	from	from	ADP
fsr-3132	83	15	age	age	NOUN
fsr-3132	83	16	25	25	NUM
fsr-3132	83	17	to	to	ADP
fsr-3132	83	18	age	age	NOUN
fsr-3132	83	19	65	65	NUM
fsr-3132	83	20	)	)	PUNCT
fsr-3132	83	21	is	be	AUX
fsr-3132	83	22	defined	define	VERB
fsr-3132	83	23	as	as	ADP
fsr-3132	83	24	the	the	DET
fsr-3132	83	25	present	present	ADJ
fsr-3132	83	26	value	value	NOUN
fsr-3132	83	27	of	of	ADP
fsr-3132	83	28	all	all	DET
fsr-3132	83	29	monthly	monthly	ADV
fsr-3132	83	30	expected	expect	VERB
fsr-3132	83	31	utilities	utility	NOUN
fsr-3132	83	32	:	:	PUNCT
fsr-3132	83	33	e	e	X
fsr-3132	83	34	�	�	PROPN
fsr-3132	83	35	u	u	ADJ
fsr-3132	83	36	�	�	PROPN
fsr-3132	83	37	�	�	PROPN
fsr-3132	83	38	�	�	PROPN
fsr-3132	83	39	t	t	PROPN
fsr-3132	83	40	�	�	PROPN
fsr-3132	83	41	1	1	NUM
fsr-3132	83	42	t	t	PROPN
fsr-3132	83	43	�	�	PROPN
fsr-3132	83	44	t	t	PROPN
fsr-3132	83	45	�	�	NOUN
fsr-3132	83	46	e(rp	e(rp	NOUN
fsr-3132	83	47	,	,	PUNCT
fsr-3132	83	48	t	t	PROPN
fsr-3132	83	49	)	)	PUNCT
fsr-3132	83	50	�	�	PROPN
fsr-3132	83	51	1	1	NUM
fsr-3132	83	52	2	2	NUM
fsr-3132	83	53	at	at	ADP
fsr-3132	83	54	�	�	PROPN
fsr-3132	83	55	p	p	PROPN
fsr-3132	83	56	,	,	PUNCT
fsr-3132	83	57	t	t	PROPN
fsr-3132	83	58	2	2	NUM
fsr-3132	83	59	�	�	PROPN
fsr-3132	83	60	(	(	PUNCT
fsr-3132	83	61	2	2	NUM
fsr-3132	83	62	)	)	PUNCT
fsr-3132	83	63	where	where	SCONJ
fsr-3132	83	64	�	�	PROPN
fsr-3132	83	65	is	be	AUX
fsr-3132	83	66	the	the	DET
fsr-3132	83	67	discount	discount	NOUN
fsr-3132	83	68	factor	factor	NOUN
fsr-3132	83	69	,	,	PUNCT
fsr-3132	83	70	t	t	PROPN
fsr-3132	83	71	is	be	AUX
fsr-3132	83	72	the	the	DET
fsr-3132	83	73	length	length	NOUN
fsr-3132	83	74	of	of	ADP
fsr-3132	83	75	accumulation	accumulation	NOUN
fsr-3132	83	76	period	period	NOUN
fsr-3132	83	77	in	in	ADP
fsr-3132	83	78	months	month	NOUN
fsr-3132	83	79	,	,	PUNCT
fsr-3132	83	80	and	and	CCONJ
fsr-3132	83	81	t	t	PROPN
fsr-3132	83	82	stands	stand	VERB
fsr-3132	83	83	for	for	ADP
fsr-3132	83	84	a	a	DET
fsr-3132	83	85	specific	specific	ADJ
fsr-3132	83	86	month	month	NOUN
fsr-3132	83	87	.	.	PUNCT
fsr-3132	84	1	we	we	PRON
fsr-3132	84	2	use	use	VERB
fsr-3132	84	3	a	a	DET
fsr-3132	84	4	discount	discount	NOUN
fsr-3132	84	5	factor	factor	NOUN
fsr-3132	84	6	of	of	ADP
fsr-3132	84	7	0.99.7	0.99.7	NUM
fsr-3132	84	8	in	in	ADP
fsr-3132	84	9	this	this	DET
fsr-3132	84	10	expected	expect	VERB
fsr-3132	84	11	utility	utility	NOUN
fsr-3132	84	12	model	model	NOUN
fsr-3132	84	13	we	we	PRON
fsr-3132	84	14	assume	assume	VERB
fsr-3132	84	15	the	the	DET
fsr-3132	84	16	investor	investor	NOUN
fsr-3132	84	17	’s	’s	PART
fsr-3132	84	18	relative	relative	ADJ
fsr-3132	84	19	risk	risk	NOUN
fsr-3132	84	20	aversion	aversion	NOUN
fsr-3132	84	21	increases	increase	VERB
fsr-3132	84	22	over	over	ADP
fsr-3132	84	23	her	her	PRON
fsr-3132	84	24	lifetime	lifetime	NOUN
fsr-3132	84	25	.	.	PUNCT
fsr-3132	85	1	we	we	PRON
fsr-3132	85	2	assume	assume	VERB
fsr-3132	85	3	that	that	SCONJ
fsr-3132	85	4	the	the	DET
fsr-3132	85	5	change	change	NOUN
fsr-3132	85	6	in	in	ADP
fsr-3132	85	7	risk	risk	NOUN
fsr-3132	85	8	aversion	aversion	NOUN
fsr-3132	85	9	is	be	AUX
fsr-3132	85	10	linear	linear	ADJ
fsr-3132	85	11	,	,	PUNCT
fsr-3132	85	12	but	but	CCONJ
fsr-3132	85	13	for	for	ADP
fsr-3132	85	14	robustness	robustness	NOUN
fsr-3132	85	15	we	we	PRON
fsr-3132	85	16	also	also	ADV
fsr-3132	85	17	examine	examine	VERB
fsr-3132	85	18	cases	case	NOUN
fsr-3132	85	19	where	where	SCONJ
fsr-3132	85	20	the	the	DET
fsr-3132	85	21	investor	investor	NOUN
fsr-3132	85	22	’s	’s	PART
fsr-3132	85	23	risk	risk	NOUN
fsr-3132	85	24	aversion	aversion	NOUN
fsr-3132	85	25	stays	stay	VERB
fsr-3132	85	26	constant	constant	ADJ
fsr-3132	85	27	for	for	ADP
fsr-3132	85	28	a	a	DET
fsr-3132	85	29	certain	certain	ADJ
fsr-3132	85	30	period	period	NOUN
fsr-3132	85	31	(	(	PUNCT
fsr-3132	85	32	e.g.	e.g.	ADV
fsr-3132	85	33	,	,	PUNCT
fsr-3132	85	34	first	first	ADV
fsr-3132	85	35	10	10	NUM
fsr-3132	85	36	years	year	NOUN
fsr-3132	85	37	)	)	PUNCT
fsr-3132	85	38	and	and	CCONJ
fsr-3132	85	39	starts	start	VERB
fsr-3132	85	40	increasing	increase	VERB
fsr-3132	85	41	closer	close	ADV
fsr-3132	85	42	to	to	ADP
fsr-3132	85	43	the	the	DET
fsr-3132	85	44	target	target	NOUN
fsr-3132	85	45	retirement	retirement	NOUN
fsr-3132	85	46	year	year	NOUN
fsr-3132	85	47	.	.	PUNCT
fsr-3132	86	1	2.2	2.2	NUM
fsr-3132	86	2	.	.	PUNCT
fsr-3132	87	1	mean	mean	ADJ
fsr-3132	87	2	-	-	PUNCT
fsr-3132	87	3	variance	variance	NOUN
fsr-3132	87	4	utility	utility	NOUN
fsr-3132	87	5	model	model	NOUN
fsr-3132	87	6	with	with	ADP
fsr-3132	87	7	loss	loss	NOUN
fsr-3132	87	8	aversion	aversion	NOUN
fsr-3132	87	9	behavioral	behavioral	ADJ
fsr-3132	87	10	finance	finance	NOUN
fsr-3132	87	11	studies	study	NOUN
fsr-3132	87	12	have	have	AUX
fsr-3132	87	13	shown	show	VERB
fsr-3132	87	14	that	that	SCONJ
fsr-3132	87	15	investors	investor	NOUN
fsr-3132	87	16	are	be	AUX
fsr-3132	87	17	loss	loss	NOUN
fsr-3132	87	18	averse	averse	ADJ
fsr-3132	87	19	,	,	PUNCT
fsr-3132	87	20	meaning	mean	VERB
fsr-3132	87	21	they	they	PRON
fsr-3132	87	22	are	be	AUX
fsr-3132	87	23	more	more	ADV
fsr-3132	87	24	sensitive	sensitive	ADJ
fsr-3132	87	25	to	to	ADP
fsr-3132	87	26	the	the	DET
fsr-3132	87	27	negative	negative	ADJ
fsr-3132	87	28	changes	change	NOUN
fsr-3132	87	29	to	to	ADP
fsr-3132	87	30	their	their	PRON
fsr-3132	87	31	wealth	wealth	NOUN
fsr-3132	87	32	than	than	ADP
fsr-3132	87	33	gains	gain	NOUN
fsr-3132	87	34	(	(	PUNCT
fsr-3132	87	35	thaler	thaler	NOUN
fsr-3132	87	36	,	,	PUNCT
fsr-3132	87	37	tversky	tversky	NOUN
fsr-3132	87	38	,	,	PUNCT
fsr-3132	87	39	kahneman	kahneman	NOUN
fsr-3132	87	40	,	,	PUNCT
fsr-3132	87	41	and	and	CCONJ
fsr-3132	87	42	schwartz	schwartz	PROPN
fsr-3132	87	43	,	,	PUNCT
fsr-3132	87	44	1997	1997	NUM
fsr-3132	87	45	)	)	PUNCT
fsr-3132	87	46	.	.	PUNCT
fsr-3132	88	1	in	in	ADP
fsr-3132	88	2	the	the	DET
fsr-3132	88	3	case	case	NOUN
fsr-3132	88	4	of	of	ADP
fsr-3132	88	5	loss	loss	NOUN
fsr-3132	88	6	aversion	aversion	NOUN
fsr-3132	88	7	,	,	PUNCT
fsr-3132	88	8	utility	utility	NOUN
fsr-3132	88	9	function	function	NOUN
fsr-3132	88	10	is	be	AUX
fsr-3132	88	11	steeper	steep	ADJ
fsr-3132	88	12	for	for	ADP
fsr-3132	88	13	losses	loss	NOUN
fsr-3132	88	14	than	than	ADP
fsr-3132	88	15	gains	gain	NOUN
fsr-3132	88	16	.	.	PUNCT
fsr-3132	89	1	in	in	ADP
fsr-3132	89	2	the	the	DET
fsr-3132	89	3	second	second	ADJ
fsr-3132	89	4	model	model	NOUN
fsr-3132	89	5	we	we	PRON
fsr-3132	89	6	incorporate	incorporate	VERB
fsr-3132	89	7	the	the	DET
fsr-3132	89	8	concept	concept	NOUN
fsr-3132	89	9	of	of	ADP
fsr-3132	89	10	loss	loss	NOUN
fsr-3132	89	11	aversion	aversion	NOUN
fsr-3132	89	12	into	into	ADP
fsr-3132	89	13	the	the	DET
fsr-3132	89	14	original	original	ADJ
fsr-3132	89	15	mean	mean	ADJ
fsr-3132	89	16	-	-	PUNCT
fsr-3132	89	17	variance	variance	NOUN
fsr-3132	89	18	utility	utility	NOUN
fsr-3132	89	19	model	model	NOUN
fsr-3132	89	20	.	.	PUNCT
fsr-3132	90	1	we	we	PRON
fsr-3132	90	2	add	add	VERB
fsr-3132	90	3	to	to	ADP
fsr-3132	90	4	the	the	DET
fsr-3132	90	5	expected	expect	VERB
fsr-3132	90	6	utility	utility	NOUN
fsr-3132	90	7	function	function	VERB
fsr-3132	90	8	the	the	DET
fsr-3132	90	9	loss	loss	NOUN
fsr-3132	90	10	aversion	aversion	NOUN
fsr-3132	90	11	coefficient	coefficient	NOUN
fsr-3132	90	12	,	,	PUNCT
fsr-3132	90	13	�	�	PROPN
fsr-3132	90	14	,	,	PUNCT
fsr-3132	90	15	which	which	PRON
fsr-3132	90	16	increases	increase	VERB
fsr-3132	90	17	the	the	DET
fsr-3132	90	18	investor	investor	NOUN
fsr-3132	90	19	’s	’s	PART
fsr-3132	90	20	risk	risk	NOUN
fsr-3132	90	21	aversion	aversion	NOUN
fsr-3132	90	22	when	when	SCONJ
fsr-3132	90	23	the	the	DET
fsr-3132	90	24	prior	prior	ADJ
fsr-3132	90	25	period	period	NOUN
fsr-3132	90	26	’s	’s	PART
fsr-3132	90	27	portfolio	portfolio	NOUN
fsr-3132	90	28	return	return	NOUN
fsr-3132	90	29	was	be	AUX
fsr-3132	90	30	negative	negative	ADJ
fsr-3132	90	31	.	.	PUNCT
fsr-3132	91	1	the	the	DET
fsr-3132	91	2	value	value	NOUN
fsr-3132	91	3	of	of	ADP
fsr-3132	91	4	the	the	DET
fsr-3132	91	5	loss	loss	NOUN
fsr-3132	91	6	aversion	aversion	NOUN
fsr-3132	91	7	coefficient	coefficient	NOUN
fsr-3132	91	8	,	,	PUNCT
fsr-3132	91	9	�	�	PROPN
fsr-3132	91	10	,	,	PUNCT
fsr-3132	91	11	is	be	AUX
fsr-3132	91	12	determined	determine	VERB
fsr-3132	91	13	based	base	VERB
fsr-3132	91	14	on	on	ADP
fsr-3132	91	15	the	the	DET
fsr-3132	91	16	realized	realize	VERB
fsr-3132	91	17	portfolio	portfolio	NOUN
fsr-3132	91	18	return	return	VERB
fsr-3132	91	19	in	in	ADP
fsr-3132	91	20	the	the	DET
fsr-3132	91	21	previous	previous	ADJ
fsr-3132	91	22	month	month	NOUN
fsr-3132	91	23	.	.	PUNCT
fsr-3132	92	1	following	follow	VERB
fsr-3132	92	2	tversky	tversky	PROPN
fsr-3132	92	3	and	and	CCONJ
fsr-3132	92	4	kahneman	kahneman	NOUN
fsr-3132	92	5	(	(	PUNCT
fsr-3132	92	6	1992	1992	NUM
fsr-3132	92	7	)	)	PUNCT
fsr-3132	92	8	,	,	PUNCT
fsr-3132	92	9	we	we	PRON
fsr-3132	92	10	assume	assume	VERB
fsr-3132	92	11	this	this	DET
fsr-3132	92	12	parameter	parameter	NOUN
fsr-3132	92	13	to	to	PART
fsr-3132	92	14	be	be	AUX
fsr-3132	92	15	equal	equal	ADJ
fsr-3132	92	16	to	to	ADP
fsr-3132	92	17	2.25	2.25	NUM
fsr-3132	92	18	when	when	SCONJ
fsr-3132	92	19	the	the	DET
fsr-3132	92	20	portfolio	portfolio	NOUN
fsr-3132	92	21	return	return	NOUN
fsr-3132	92	22	was	be	AUX
fsr-3132	92	23	negative	negative	ADJ
fsr-3132	92	24	in	in	ADP
fsr-3132	92	25	the	the	DET
fsr-3132	92	26	previous	previous	ADJ
fsr-3132	92	27	month	month	NOUN
fsr-3132	92	28	.	.	PUNCT
fsr-3132	93	1	with	with	ADP
fsr-3132	93	2	the	the	DET
fsr-3132	93	3	loss	loss	NOUN
fsr-3132	93	4	aversion	aversion	NOUN
fsr-3132	93	5	coefficient	coefficient	VERB
fsr-3132	93	6	the	the	DET
fsr-3132	93	7	accumulation	accumulation	NOUN
fsr-3132	93	8	period	period	NOUN
fsr-3132	93	9	expected	expect	VERB
fsr-3132	93	10	utility	utility	NOUN
fsr-3132	93	11	function	function	NOUN
fsr-3132	93	12	is	be	AUX
fsr-3132	93	13	expressed	express	VERB
fsr-3132	93	14	as	as	SCONJ
fsr-3132	93	15	follows	follow	VERB
fsr-3132	93	16	,	,	PUNCT
fsr-3132	93	17	e	e	X
fsr-3132	93	18	�	�	PROPN
fsr-3132	93	19	u	u	ADJ
fsr-3132	93	20	�	�	PROPN
fsr-3132	93	21	�	�	PROPN
fsr-3132	93	22	�	�	PROPN
fsr-3132	93	23	t	t	PROPN
fsr-3132	93	24	�	�	PROPN
fsr-3132	93	25	1	1	NUM
fsr-3132	93	26	t	t	PROPN
fsr-3132	93	27	�	�	PROPN
fsr-3132	93	28	t	t	PROPN
fsr-3132	93	29	�	�	NOUN
fsr-3132	93	30	e(rp	e(rp	NOUN
fsr-3132	93	31	,	,	PUNCT
fsr-3132	93	32	t	t	PROPN
fsr-3132	93	33	)	)	PUNCT
fsr-3132	93	34	�	�	PROPN
fsr-3132	93	35	1	1	NUM
fsr-3132	93	36	2	2	NUM
fsr-3132	93	37	at	at	ADP
fsr-3132	93	38	�	�	PROPN
fsr-3132	93	39	t	t	PROPN
fsr-3132	93	40	�	�	PROPN
fsr-3132	93	41	p	p	PROPN
fsr-3132	93	42	,	,	PUNCT
fsr-3132	93	43	t	t	PROPN
fsr-3132	93	44	2	2	NUM
fsr-3132	93	45	�	�	PROPN
fsr-3132	93	46	(	(	PUNCT
fsr-3132	93	47	3	3	NUM
fsr-3132	93	48	)	)	PUNCT
fsr-3132	93	49	173r.p	173r.p	NOUN
fsr-3132	93	50	.	.	PUNCT
fsr-3132	94	1	chang	chang	PROPN
fsr-3132	94	2	et	et	PROPN
fsr-3132	94	3	al	al	PROPN
fsr-3132	94	4	.	.	PUNCT
fsr-3132	94	5	/	/	SYM
fsr-3132	94	6	financial	financial	ADJ
fsr-3132	94	7	services	service	NOUN
fsr-3132	94	8	review	review	VERB
fsr-3132	94	9	23	23	NUM
fsr-3132	94	10	(	(	PUNCT
fsr-3132	94	11	2014	2014	NUM
fsr-3132	94	12	)	)	PUNCT
fsr-3132	94	13	169–188	169–188	NUM
fsr-3132	94	14	where	where	SCONJ
fsr-3132	94	15	�	�	PROPN
fsr-3132	94	16	t	t	PROPN
fsr-3132	94	17	�	�	PROPN
fsr-3132	94	18	�	�	PROPN
fsr-3132	94	19	1	1	NUM
fsr-3132	94	20	when	when	SCONJ
fsr-3132	94	21	rp	rp	NOUN
fsr-3132	94	22	,	,	PUNCT
fsr-3132	94	23	t	t	PROPN
fsr-3132	94	24	�	�	PROPN
fsr-3132	94	25	1	1	NUM
fsr-3132	94	26	s	s	PART
fsr-3132	94	27	�	�	PROPN
fsr-3132	94	28	0	0	NUM
fsr-3132	94	29	2.25	2.25	NUM
fsr-3132	94	30	when	when	SCONJ
fsr-3132	94	31	rp	rp	NOUN
fsr-3132	94	32	,	,	PUNCT
fsr-3132	94	33	t	t	PROPN
fsr-3132	94	34	�	�	PROPN
fsr-3132	94	35	1	1	NUM
fsr-3132	94	36	s	s	PART
fsr-3132	94	37	�	�	PROPN
fsr-3132	94	38	0	0	NUM
fsr-3132	94	39	(	(	PUNCT
fsr-3132	94	40	4	4	NUM
fsr-3132	94	41	)	)	PUNCT
fsr-3132	94	42	rs	rs	NOUN
fsr-3132	94	43	p	p	NOUN
fsr-3132	94	44	,	,	PUNCT
fsr-3132	94	45	t-1	t-1	PROPN
fsr-3132	94	46	stands	stand	VERB
fsr-3132	94	47	for	for	ADP
fsr-3132	94	48	the	the	DET
fsr-3132	94	49	portfolio	portfolio	NOUN
fsr-3132	94	50	return	return	NOUN
fsr-3132	94	51	for	for	ADP
fsr-3132	94	52	the	the	DET
fsr-3132	94	53	month	month	NOUN
fsr-3132	94	54	t	t	PROPN
fsr-3132	94	55	�	�	PROPN
fsr-3132	95	1	1	1	NUM
fsr-3132	95	2	.	.	PUNCT
fsr-3132	96	1	if	if	SCONJ
fsr-3132	96	2	during	during	ADP
fsr-3132	96	3	the	the	DET
fsr-3132	96	4	previous	previous	ADJ
fsr-3132	96	5	month	month	NOUN
fsr-3132	96	6	the	the	DET
fsr-3132	96	7	portfolio	portfolio	NOUN
fsr-3132	96	8	return	return	NOUN
fsr-3132	96	9	was	be	AUX
fsr-3132	96	10	negative	negative	ADJ
fsr-3132	96	11	,	,	PUNCT
fsr-3132	96	12	the	the	DET
fsr-3132	96	13	investor	investor	NOUN
fsr-3132	96	14	’s	’s	PART
fsr-3132	96	15	risk	risk	NOUN
fsr-3132	96	16	aversion	aversion	NOUN
fsr-3132	96	17	will	will	AUX
fsr-3132	96	18	increase	increase	VERB
fsr-3132	96	19	2.25	2.25	NUM
fsr-3132	96	20	times	time	NOUN
fsr-3132	96	21	next	next	ADJ
fsr-3132	96	22	month	month	NOUN
fsr-3132	96	23	.	.	PUNCT
fsr-3132	97	1	in	in	ADP
fsr-3132	97	2	the	the	DET
fsr-3132	97	3	case	case	NOUN
fsr-3132	97	4	of	of	ADP
fsr-3132	97	5	a	a	DET
fsr-3132	97	6	positive	positive	ADJ
fsr-3132	97	7	portfolio	portfolio	NOUN
fsr-3132	97	8	return	return	NOUN
fsr-3132	97	9	,	,	PUNCT
fsr-3132	97	10	the	the	DET
fsr-3132	97	11	investor	investor	NOUN
fsr-3132	97	12	’s	’s	PART
fsr-3132	97	13	risk	risk	NOUN
fsr-3132	97	14	aversion	aversion	NOUN
fsr-3132	97	15	does	do	AUX
fsr-3132	97	16	not	not	PART
fsr-3132	97	17	deviate	deviate	VERB
fsr-3132	97	18	from	from	ADP
fsr-3132	97	19	the	the	DET
fsr-3132	97	20	regular	regular	ADJ
fsr-3132	97	21	risk	risk	NOUN
fsr-3132	97	22	aversion	aversion	NOUN
fsr-3132	97	23	that	that	SCONJ
fsr-3132	97	24	the	the	DET
fsr-3132	97	25	investor	investor	NOUN
fsr-3132	97	26	normally	normally	ADV
fsr-3132	97	27	has	have	VERB
fsr-3132	97	28	.	.	PUNCT
fsr-3132	98	1	2.3	2.3	NUM
fsr-3132	98	2	.	.	PUNCT
fsr-3132	99	1	return	return	VERB
fsr-3132	99	2	data	datum	NOUN
fsr-3132	99	3	and	and	CCONJ
fsr-3132	99	4	simulation	simulation	NOUN
fsr-3132	99	5	expected	expect	VERB
fsr-3132	99	6	portfolio	portfolio	NOUN
fsr-3132	99	7	return	return	NOUN
fsr-3132	99	8	is	be	AUX
fsr-3132	99	9	calculated	calculate	VERB
fsr-3132	99	10	based	base	VERB
fsr-3132	99	11	on	on	ADP
fsr-3132	99	12	the	the	DET
fsr-3132	99	13	portfolio	portfolio	NOUN
fsr-3132	99	14	mix	mix	NOUN
fsr-3132	99	15	for	for	ADP
fsr-3132	99	16	each	each	DET
fsr-3132	99	17	strategy	strategy	NOUN
fsr-3132	99	18	at	at	ADP
fsr-3132	99	19	the	the	DET
fsr-3132	99	20	respective	respective	ADJ
fsr-3132	99	21	accumulation	accumulation	NOUN
fsr-3132	99	22	period	period	NOUN
fsr-3132	99	23	.	.	PUNCT
fsr-3132	100	1	the	the	DET
fsr-3132	100	2	lifecycle	lifecycle	NOUN
fsr-3132	100	3	portfolios	portfolio	NOUN
fsr-3132	100	4	follow	follow	VERB
fsr-3132	100	5	different	different	ADJ
fsr-3132	100	6	glide	glide	NOUN
fsr-3132	100	7	path	path	NOUN
fsr-3132	100	8	strategies	strategy	NOUN
fsr-3132	100	9	that	that	PRON
fsr-3132	100	10	are	be	AUX
fsr-3132	100	11	characterized	characterize	VERB
fsr-3132	100	12	by	by	ADP
fsr-3132	100	13	the	the	DET
fsr-3132	100	14	beginning	begin	VERB
fsr-3132	100	15	equity	equity	NOUN
fsr-3132	100	16	allocation	allocation	NOUN
fsr-3132	100	17	,	,	PUNCT
fsr-3132	100	18	ending	end	VERB
fsr-3132	100	19	equity	equity	NOUN
fsr-3132	100	20	allocation	allocation	NOUN
fsr-3132	100	21	,	,	PUNCT
fsr-3132	100	22	and	and	CCONJ
fsr-3132	100	23	the	the	DET
fsr-3132	100	24	time	time	NOUN
fsr-3132	100	25	point	point	NOUN
fsr-3132	100	26	when	when	SCONJ
fsr-3132	100	27	the	the	DET
fsr-3132	100	28	equity	equity	NOUN
fsr-3132	100	29	allocation	allocation	NOUN
fsr-3132	100	30	starts	start	VERB
fsr-3132	100	31	to	to	PART
fsr-3132	100	32	decrease	decrease	VERB
fsr-3132	100	33	in	in	ADP
fsr-3132	100	34	the	the	DET
fsr-3132	100	35	portfolio	portfolio	NOUN
fsr-3132	100	36	(	(	PUNCT
fsr-3132	100	37	e.g.	e.g.	ADV
fsr-3132	100	38	,	,	PUNCT
fsr-3132	100	39	for	for	ADP
fsr-3132	100	40	the	the	DET
fsr-3132	100	41	first	first	ADJ
fsr-3132	100	42	10	10	NUM
fsr-3132	100	43	years	year	NOUN
fsr-3132	100	44	the	the	DET
fsr-3132	100	45	weight	weight	NOUN
fsr-3132	100	46	of	of	ADP
fsr-3132	100	47	equity	equity	NOUN
fsr-3132	100	48	is	be	AUX
fsr-3132	100	49	kept	keep	VERB
fsr-3132	100	50	at	at	ADP
fsr-3132	100	51	the	the	DET
fsr-3132	100	52	maximum	maximum	NOUN
fsr-3132	100	53	creating	create	VERB
fsr-3132	100	54	a	a	DET
fsr-3132	100	55	kink	kink	NOUN
fsr-3132	100	56	in	in	ADP
fsr-3132	100	57	the	the	DET
fsr-3132	100	58	glide	glide	NOUN
fsr-3132	100	59	path	path	NOUN
fsr-3132	100	60	)	)	PUNCT
fsr-3132	100	61	.	.	PUNCT
fsr-3132	101	1	based	base	VERB
fsr-3132	101	2	on	on	ADP
fsr-3132	101	3	these	these	DET
fsr-3132	101	4	parameters	parameter	NOUN
fsr-3132	101	5	,	,	PUNCT
fsr-3132	101	6	the	the	DET
fsr-3132	101	7	portfolio	portfolio	NOUN
fsr-3132	101	8	allocations	allocation	NOUN
fsr-3132	101	9	of	of	ADP
fsr-3132	101	10	lifecycle	lifecycle	NOUN
fsr-3132	101	11	strategies	strategy	NOUN
fsr-3132	101	12	change	change	VERB
fsr-3132	101	13	each	each	DET
fsr-3132	101	14	year	year	NOUN
fsr-3132	101	15	by	by	ADP
fsr-3132	101	16	decreasing	decrease	VERB
fsr-3132	101	17	the	the	DET
fsr-3132	101	18	equity	equity	NOUN
fsr-3132	101	19	in	in	ADP
fsr-3132	101	20	equal	equal	ADJ
fsr-3132	101	21	increments	increment	NOUN
fsr-3132	101	22	but	but	CCONJ
fsr-3132	101	23	stay	stay	VERB
fsr-3132	101	24	the	the	DET
fsr-3132	101	25	same	same	ADJ
fsr-3132	101	26	within	within	ADP
fsr-3132	101	27	the	the	DET
fsr-3132	101	28	year.8	year.8	ADJ
fsr-3132	101	29	lifestyle	lifestyle	NOUN
fsr-3132	101	30	strategies	strategy	NOUN
fsr-3132	101	31	keep	keep	VERB
fsr-3132	101	32	the	the	DET
fsr-3132	101	33	equity	equity	NOUN
fsr-3132	101	34	allocation	allocation	NOUN
fsr-3132	101	35	constant	constant	ADJ
fsr-3132	101	36	over	over	ADP
fsr-3132	101	37	the	the	DET
fsr-3132	101	38	entire	entire	ADJ
fsr-3132	101	39	accumulation	accumulation	NOUN
fsr-3132	101	40	period	period	NOUN
fsr-3132	101	41	.	.	PUNCT
fsr-3132	102	1	the	the	DET
fsr-3132	102	2	monthly	monthly	ADJ
fsr-3132	102	3	mean	mean	NOUN
fsr-3132	102	4	return	return	NOUN
fsr-3132	102	5	of	of	ADP
fsr-3132	102	6	the	the	DET
fsr-3132	102	7	portfolio	portfolio	NOUN
fsr-3132	102	8	for	for	ADP
fsr-3132	102	9	each	each	DET
fsr-3132	102	10	strategy	strategy	NOUN
fsr-3132	102	11	is	be	AUX
fsr-3132	102	12	calculated	calculate	VERB
fsr-3132	102	13	as	as	SCONJ
fsr-3132	102	14	follows	follow	VERB
fsr-3132	102	15	:	:	PUNCT
fsr-3132	102	16	e	e	X
fsr-3132	102	17	�	�	NOUN
fsr-3132	102	18	rp	rp	NOUN
fsr-3132	102	19	,	,	PUNCT
fsr-3132	102	20	t	t	PROPN
fsr-3132	102	21	�	�	PROPN
fsr-3132	102	22	�	�	PROPN
fsr-3132	102	23	wbond	wbond	PROPN
fsr-3132	102	24	,	,	PUNCT
fsr-3132	102	25	t	t	PROPN
fsr-3132	102	26	�	�	PROPN
fsr-3132	102	27	r	r	NOUN
fsr-3132	102	28	�	�	PROPN
fsr-3132	102	29	bond	bond	NOUN
fsr-3132	102	30	�	�	PROPN
fsr-3132	102	31	weq	weq	PROPN
fsr-3132	102	32	,	,	PUNCT
fsr-3132	102	33	t	t	PROPN
fsr-3132	102	34	�	�	PROPN
fsr-3132	102	35	r	r	PROPN
fsr-3132	102	36	�	�	PROPN
fsr-3132	102	37	eq	eq	NOUN
fsr-3132	102	38	(	(	PUNCT
fsr-3132	102	39	5	5	NUM
fsr-3132	102	40	)	)	PUNCT
fsr-3132	102	41	where	where	SCONJ
fsr-3132	102	42	wbond	wbond	NOUN
fsr-3132	102	43	,	,	PUNCT
fsr-3132	102	44	t	t	PROPN
fsr-3132	102	45	and	and	CCONJ
fsr-3132	102	46	weq	weq	PROPN
fsr-3132	102	47	,	,	PUNCT
fsr-3132	102	48	t	t	PROPN
fsr-3132	102	49	are	be	AUX
fsr-3132	102	50	the	the	DET
fsr-3132	102	51	weights	weight	NOUN
fsr-3132	102	52	on	on	ADP
fsr-3132	102	53	bond	bond	NOUN
fsr-3132	102	54	and	and	CCONJ
fsr-3132	102	55	equity	equity	NOUN
fsr-3132	102	56	in	in	ADP
fsr-3132	102	57	the	the	DET
fsr-3132	102	58	portfolio	portfolio	NOUN
fsr-3132	102	59	at	at	ADP
fsr-3132	102	60	month	month	NOUN
fsr-3132	102	61	t	t	PROPN
fsr-3132	102	62	,	,	PUNCT
fsr-3132	102	63	respectively	respectively	ADV
fsr-3132	102	64	.	.	PUNCT
fsr-3132	103	1	r	r	X
fsr-3132	103	2	�	�	PROPN
fsr-3132	103	3	bond	bond	NOUN
fsr-3132	103	4	is	be	AUX
fsr-3132	103	5	the	the	DET
fsr-3132	103	6	mean	mean	ADJ
fsr-3132	103	7	return	return	NOUN
fsr-3132	103	8	of	of	ADP
fsr-3132	103	9	the	the	DET
fsr-3132	103	10	bond	bond	NOUN
fsr-3132	103	11	and	and	CCONJ
fsr-3132	103	12	r	r	NOUN
fsr-3132	103	13	�	�	PROPN
fsr-3132	103	14	eq	eq	ADP
fsr-3132	103	15	is	be	AUX
fsr-3132	103	16	the	the	DET
fsr-3132	103	17	mean	mean	ADJ
fsr-3132	103	18	return	return	NOUN
fsr-3132	103	19	of	of	ADP
fsr-3132	103	20	diversified	diversified	ADJ
fsr-3132	103	21	equity	equity	NOUN
fsr-3132	103	22	portfolio	portfolio	NOUN
fsr-3132	103	23	.	.	PUNCT
fsr-3132	104	1	the	the	DET
fsr-3132	104	2	portfolio	portfolio	NOUN
fsr-3132	104	3	variance	variance	NOUN
fsr-3132	104	4	for	for	ADP
fsr-3132	104	5	each	each	DET
fsr-3132	104	6	strategy	strategy	NOUN
fsr-3132	104	7	is	be	AUX
fsr-3132	104	8	calculated	calculate	VERB
fsr-3132	104	9	for	for	ADP
fsr-3132	104	10	each	each	DET
fsr-3132	104	11	period	period	NOUN
fsr-3132	104	12	as	as	SCONJ
fsr-3132	104	13	follows	follow	VERB
fsr-3132	104	14	:	:	PUNCT
fsr-3132	104	15	�	�	PROPN
fsr-3132	104	16	t	t	PROPN
fsr-3132	104	17	2	2	NUM
fsr-3132	104	18	�	�	PROPN
fsr-3132	104	19	rp	rp	NOUN
fsr-3132	104	20	,	,	PUNCT
fsr-3132	104	21	t	t	PROPN
fsr-3132	104	22	�	�	PROPN
fsr-3132	104	23	�	�	PROPN
fsr-3132	104	24	wbond	wbond	PROPN
fsr-3132	104	25	,	,	PUNCT
fsr-3132	104	26	t	t	PROPN
fsr-3132	104	27	2	2	NUM
fsr-3132	104	28	�	�	PROPN
fsr-3132	104	29	�	�	PROPN
fsr-3132	104	30	bond	bond	NOUN
fsr-3132	104	31	2	2	NUM
fsr-3132	104	32	�	�	PROPN
fsr-3132	104	33	weq	weq	PROPN
fsr-3132	104	34	,	,	PUNCT
fsr-3132	104	35	t	t	PROPN
fsr-3132	104	36	2	2	NUM
fsr-3132	104	37	�	�	PROPN
fsr-3132	104	38	�	�	PROPN
fsr-3132	104	39	eq	eq	PART
fsr-3132	104	40	2	2	NUM
fsr-3132	104	41	�	�	PROPN
fsr-3132	104	42	2wbond	2wbond	NUM
fsr-3132	104	43	,	,	PUNCT
fsr-3132	104	44	tweq	tweq	PROPN
fsr-3132	104	45	,	,	PUNCT
fsr-3132	104	46	t	t	PROPN
fsr-3132	104	47	�	�	PROPN
fsr-3132	104	48	�	�	PROPN
fsr-3132	104	49	bond	bond	PROPN
fsr-3132	104	50	�	�	PROPN
fsr-3132	104	51	�	�	PROPN
fsr-3132	104	52	eq	eq	NOUN
fsr-3132	104	53	bond	bond	PROPN
fsr-3132	104	54	,	,	PUNCT
fsr-3132	104	55	eq	eq	NOUN
fsr-3132	104	56	(	(	PUNCT
fsr-3132	104	57	6	6	NUM
fsr-3132	104	58	)	)	PUNCT
fsr-3132	104	59	where	where	SCONJ
fsr-3132	104	60	is	be	AUX
fsr-3132	104	61	the	the	DET
fsr-3132	104	62	correlation	correlation	NOUN
fsr-3132	104	63	between	between	ADP
fsr-3132	104	64	the	the	DET
fsr-3132	104	65	returns	return	NOUN
fsr-3132	104	66	of	of	ADP
fsr-3132	104	67	the	the	DET
fsr-3132	104	68	equity	equity	NOUN
fsr-3132	104	69	portfolio	portfolio	NOUN
fsr-3132	104	70	and	and	CCONJ
fsr-3132	104	71	the	the	DET
fsr-3132	104	72	returns	return	NOUN
fsr-3132	104	73	of	of	ADP
fsr-3132	104	74	the	the	DET
fsr-3132	104	75	fixed	fix	VERB
fsr-3132	104	76	income	income	NOUN
fsr-3132	104	77	portfolio	portfolio	NOUN
fsr-3132	104	78	.	.	PUNCT
fsr-3132	105	1	in	in	ADP
fsr-3132	105	2	the	the	DET
fsr-3132	105	3	simulations	simulation	NOUN
fsr-3132	105	4	we	we	PRON
fsr-3132	105	5	use	use	VERB
fsr-3132	105	6	a	a	DET
fsr-3132	105	7	diversified	diversified	ADJ
fsr-3132	105	8	equity	equity	NOUN
fsr-3132	105	9	portfolio	portfolio	NOUN
fsr-3132	105	10	for	for	ADP
fsr-3132	105	11	equity	equity	NOUN
fsr-3132	105	12	allocation	allocation	NOUN
fsr-3132	105	13	with	with	ADP
fsr-3132	105	14	45	45	NUM
fsr-3132	105	15	%	%	NOUN
fsr-3132	105	16	invested	invest	VERB
fsr-3132	105	17	in	in	ADP
fsr-3132	105	18	the	the	DET
fsr-3132	105	19	s&p	s&p	PROPN
fsr-3132	105	20	500	500	NUM
fsr-3132	105	21	index	index	NOUN
fsr-3132	105	22	,	,	PUNCT
fsr-3132	105	23	30	30	NUM
fsr-3132	105	24	%	%	NOUN
fsr-3132	105	25	invested	invest	VERB
fsr-3132	105	26	in	in	ADP
fsr-3132	105	27	the	the	DET
fsr-3132	105	28	russell	russell	PROPN
fsr-3132	105	29	2000	2000	NUM
fsr-3132	105	30	index	index	NOUN
fsr-3132	105	31	,	,	PUNCT
fsr-3132	105	32	and	and	CCONJ
fsr-3132	105	33	25	25	NUM
fsr-3132	105	34	%	%	NOUN
fsr-3132	105	35	invested	invest	VERB
fsr-3132	105	36	in	in	ADP
fsr-3132	105	37	the	the	DET
fsr-3132	105	38	msci	msci	PROPN
fsr-3132	105	39	eafe	eafe	PROPN
fsr-3132	105	40	index	index	PROPN
fsr-3132	105	41	,	,	PUNCT
fsr-3132	105	42	following	follow	VERB
fsr-3132	105	43	liu	liu	PROPN
fsr-3132	105	44	,	,	PUNCT
fsr-3132	105	45	chang	chang	PROPN
fsr-3132	105	46	,	,	PUNCT
fsr-3132	105	47	de	de	PROPN
fsr-3132	105	48	jong	jong	PROPN
fsr-3132	105	49	,	,	PUNCT
fsr-3132	105	50	and	and	CCONJ
fsr-3132	105	51	robinson	robinson	PROPN
fsr-3132	105	52	(	(	PUNCT
fsr-3132	105	53	2009	2009	NUM
fsr-3132	105	54	)	)	PUNCT
fsr-3132	105	55	.	.	PUNCT
fsr-3132	106	1	for	for	ADP
fsr-3132	106	2	the	the	DET
fsr-3132	106	3	fixed	fix	VERB
fsr-3132	106	4	income	income	NOUN
fsr-3132	106	5	holding	hold	VERB
fsr-3132	106	6	we	we	PRON
fsr-3132	106	7	use	use	VERB
fsr-3132	106	8	a	a	DET
fsr-3132	106	9	10	10	NUM
fsr-3132	106	10	-	-	PUNCT
fsr-3132	106	11	year	year	NOUN
fsr-3132	106	12	u.s	u.s	PROPN
fsr-3132	106	13	.	.	PROPN
fsr-3132	106	14	treasury	treasury	PROPN
fsr-3132	106	15	bond	bond	NOUN
fsr-3132	106	16	.	.	PUNCT
fsr-3132	107	1	the	the	DET
fsr-3132	107	2	monthly	monthly	ADJ
fsr-3132	107	3	return	return	NOUN
fsr-3132	107	4	data	datum	NOUN
fsr-3132	107	5	for	for	ADP
fsr-3132	107	6	equity	equity	NOUN
fsr-3132	107	7	indices	index	NOUN
fsr-3132	107	8	and	and	CCONJ
fsr-3132	107	9	treasury	treasury	NOUN
fsr-3132	107	10	bonds	bond	NOUN
fsr-3132	107	11	is	be	AUX
fsr-3132	107	12	retrieved	retrieve	VERB
fsr-3132	107	13	from	from	ADP
fsr-3132	107	14	crsp	crsp	ADJ
fsr-3132	107	15	and	and	CCONJ
fsr-3132	107	16	datastream	datastream	ADJ
fsr-3132	107	17	.	.	PUNCT
fsr-3132	108	1	the	the	DET
fsr-3132	108	2	sample	sample	NOUN
fsr-3132	108	3	period	period	NOUN
fsr-3132	108	4	is	be	AUX
fsr-3132	108	5	from	from	ADP
fsr-3132	108	6	january	january	PROPN
fsr-3132	108	7	1970	1970	NUM
fsr-3132	108	8	to	to	ADP
fsr-3132	108	9	december	december	PROPN
fsr-3132	108	10	2010	2010	NUM
fsr-3132	108	11	.	.	PUNCT
fsr-3132	109	1	table	table	NOUN
fsr-3132	109	2	1	1	NUM
fsr-3132	109	3	shows	show	VERB
fsr-3132	109	4	the	the	DET
fsr-3132	109	5	descriptive	descriptive	ADJ
fsr-3132	109	6	statistics	statistic	NOUN
fsr-3132	109	7	for	for	ADP
fsr-3132	109	8	the	the	DET
fsr-3132	109	9	three	three	NUM
fsr-3132	109	10	equity	equity	NOUN
fsr-3132	109	11	indices	index	NOUN
fsr-3132	109	12	:	:	PUNCT
fsr-3132	109	13	the	the	DET
fsr-3132	109	14	s&p	s&p	PROPN
fsr-3132	109	15	500	500	NUM
fsr-3132	109	16	index	index	NOUN
fsr-3132	109	17	,	,	PUNCT
fsr-3132	109	18	the	the	DET
fsr-3132	109	19	russell	russell	PROPN
fsr-3132	109	20	2000	2000	NUM
fsr-3132	109	21	index	index	NOUN
fsr-3132	109	22	,	,	PUNCT
fsr-3132	109	23	and	and	CCONJ
fsr-3132	109	24	the	the	DET
fsr-3132	109	25	msci	msci	PROPN
fsr-3132	109	26	eafe	eafe	PROPN
fsr-3132	109	27	index	index	PROPN
fsr-3132	109	28	,	,	PUNCT
fsr-3132	109	29	the	the	DET
fsr-3132	109	30	10	10	NUM
fsr-3132	109	31	year	year	NOUN
fsr-3132	109	32	u.s	u.s	PROPN
fsr-3132	109	33	.	.	PROPN
fsr-3132	109	34	treasury	treasury	PROPN
fsr-3132	109	35	bonds	bond	NOUN
fsr-3132	109	36	,	,	PUNCT
fsr-3132	109	37	and	and	CCONJ
fsr-3132	109	38	the	the	DET
fsr-3132	109	39	diversified	diversified	ADJ
fsr-3132	109	40	equity	equity	NOUN
fsr-3132	109	41	portfolio	portfolio	NOUN
fsr-3132	109	42	.	.	PUNCT
fsr-3132	110	1	2.4	2.4	NUM
fsr-3132	110	2	.	.	PUNCT
fsr-3132	111	1	tdfs	tdfs	NOUN
fsr-3132	111	2	and	and	CCONJ
fsr-3132	111	3	their	their	PRON
fsr-3132	111	4	glide	glide	NOUN
fsr-3132	111	5	paths	path	NOUN
fsr-3132	111	6	the	the	DET
fsr-3132	111	7	glide	glide	ADJ
fsr-3132	111	8	path	path	NOUN
fsr-3132	111	9	of	of	ADP
fsr-3132	111	10	the	the	DET
fsr-3132	111	11	tdf	tdf	PROPN
fsr-3132	111	12	is	be	AUX
fsr-3132	111	13	characterized	characterize	VERB
fsr-3132	111	14	by	by	ADP
fsr-3132	111	15	two	two	NUM
fsr-3132	111	16	attributes	attribute	NOUN
fsr-3132	111	17	:	:	PUNCT
fsr-3132	111	18	length	length	NOUN
fsr-3132	111	19	of	of	ADP
fsr-3132	111	20	the	the	DET
fsr-3132	111	21	glide	glide	NOUN
fsr-3132	111	22	path	path	NOUN
fsr-3132	111	23	and	and	CCONJ
fsr-3132	111	24	change	change	NOUN
fsr-3132	111	25	in	in	ADP
fsr-3132	111	26	the	the	DET
fsr-3132	111	27	asset	asset	NOUN
fsr-3132	111	28	allocation	allocation	NOUN
fsr-3132	111	29	over	over	ADP
fsr-3132	111	30	the	the	DET
fsr-3132	111	31	fund	fund	NOUN
fsr-3132	111	32	lifetime	lifetime	NOUN
fsr-3132	111	33	.	.	PUNCT
fsr-3132	112	1	as	as	SCONJ
fsr-3132	112	2	balduzzi	balduzzi	NOUN
fsr-3132	112	3	and	and	CCONJ
fsr-3132	112	4	reuter	reuter	PROPN
fsr-3132	112	5	(	(	PUNCT
fsr-3132	112	6	2012	2012	NUM
fsr-3132	112	7	)	)	PUNCT
fsr-3132	112	8	note	note	NOUN
fsr-3132	112	9	,	,	PUNCT
fsr-3132	112	10	the	the	DET
fsr-3132	112	11	fund	fund	NOUN
fsr-3132	112	12	families	family	NOUN
fsr-3132	112	13	try	try	VERB
fsr-3132	112	14	to	to	PART
fsr-3132	112	15	differentiate	differentiate	VERB
fsr-3132	112	16	themselves	themselves	PRON
fsr-3132	112	17	from	from	ADP
fsr-3132	112	18	other	other	ADJ
fsr-3132	112	19	tdfs	tdfs	NOUN
fsr-3132	112	20	there	there	PRON
fsr-3132	112	21	are	be	VERB
fsr-3132	112	22	many	many	ADJ
fsr-3132	112	23	different	different	ADJ
fsr-3132	112	24	glide	glide	NOUN
fsr-3132	112	25	174	174	NUM
fsr-3132	112	26	r.p	r.p	PROPN
fsr-3132	112	27	.	.	PROPN
fsr-3132	113	1	chang	chang	PROPN
fsr-3132	113	2	et	et	PROPN
fsr-3132	113	3	al	al	PROPN
fsr-3132	113	4	.	.	PUNCT
fsr-3132	113	5	/	/	SYM
fsr-3132	113	6	financial	financial	ADJ
fsr-3132	113	7	services	service	NOUN
fsr-3132	113	8	review	review	VERB
fsr-3132	113	9	23	23	NUM
fsr-3132	113	10	(	(	PUNCT
fsr-3132	113	11	2014	2014	NUM
fsr-3132	113	12	)	)	PUNCT
fsr-3132	113	13	169–188	169–188	NUM
fsr-3132	113	14	paths	path	NOUN
fsr-3132	113	15	and	and	CCONJ
fsr-3132	113	16	asset	asset	NOUN
fsr-3132	113	17	allocation	allocation	NOUN
fsr-3132	113	18	strategies	strategy	NOUN
fsr-3132	113	19	in	in	ADP
fsr-3132	113	20	the	the	DET
fsr-3132	113	21	market	market	NOUN
fsr-3132	113	22	.	.	PUNCT
fsr-3132	114	1	table	table	NOUN
fsr-3132	114	2	2	2	NUM
fsr-3132	114	3	summarizes	summarize	VERB
fsr-3132	114	4	the	the	DET
fsr-3132	114	5	characteristics	characteristic	NOUN
fsr-3132	114	6	of	of	ADP
fsr-3132	114	7	glide	glide	NOUN
fsr-3132	114	8	paths	path	NOUN
fsr-3132	114	9	offered	offer	VERB
fsr-3132	114	10	by	by	ADP
fsr-3132	114	11	fund	fund	NOUN
fsr-3132	114	12	families	family	NOUN
fsr-3132	114	13	collected	collect	VERB
fsr-3132	114	14	from	from	ADP
fsr-3132	114	15	the	the	DET
fsr-3132	114	16	prospectus	prospectus	NOUN
fsr-3132	114	17	of	of	ADP
fsr-3132	114	18	individual	individual	ADJ
fsr-3132	114	19	tdfs	tdfs	NOUN
fsr-3132	114	20	as	as	ADP
fsr-3132	114	21	of	of	ADP
fsr-3132	114	22	september	september	PROPN
fsr-3132	114	23	2012	2012	NUM
fsr-3132	114	24	.	.	PUNCT
fsr-3132	115	1	as	as	ADP
fsr-3132	115	2	of	of	ADP
fsr-3132	115	3	september	september	PROPN
fsr-3132	115	4	2012	2012	NUM
fsr-3132	115	5	,	,	PUNCT
fsr-3132	115	6	there	there	PRON
fsr-3132	115	7	were	be	VERB
fsr-3132	115	8	230	230	NUM
fsr-3132	115	9	tdfs	tdfs	NOUN
fsr-3132	115	10	with	with	ADP
fsr-3132	115	11	45	45	NUM
fsr-3132	115	12	fund	fund	NOUN
fsr-3132	115	13	families	family	NOUN
fsr-3132	115	14	sponsoring	sponsor	VERB
fsr-3132	115	15	these	these	DET
fsr-3132	115	16	funds	fund	NOUN
fsr-3132	115	17	.	.	PUNCT
fsr-3132	116	1	most	most	ADJ
fsr-3132	116	2	tdfs	tdfs	NOUN
fsr-3132	116	3	are	be	AUX
fsr-3132	116	4	founded	found	VERB
fsr-3132	116	5	40	40	NUM
fsr-3132	116	6	years	year	NOUN
fsr-3132	116	7	before	before	ADP
fsr-3132	116	8	the	the	DET
fsr-3132	116	9	target	target	NOUN
fsr-3132	116	10	year	year	NOUN
fsr-3132	116	11	with	with	ADP
fsr-3132	116	12	five	five	NUM
fsr-3132	116	13	year	year	NOUN
fsr-3132	116	14	increments	increment	NOUN
fsr-3132	116	15	.	.	PUNCT
fsr-3132	117	1	the	the	DET
fsr-3132	117	2	most	most	ADV
fsr-3132	117	3	common	common	ADJ
fsr-3132	117	4	beginning	beginning	NOUN
fsr-3132	117	5	equity	equity	NOUN
fsr-3132	117	6	level	level	NOUN
fsr-3132	117	7	among	among	ADP
fsr-3132	117	8	the	the	DET
fsr-3132	117	9	tdfs	tdfs	NOUN
fsr-3132	117	10	offered	offer	VERB
fsr-3132	117	11	currently	currently	ADV
fsr-3132	117	12	in	in	ADP
fsr-3132	117	13	the	the	DET
fsr-3132	117	14	market	market	NOUN
fsr-3132	117	15	is	be	AUX
fsr-3132	117	16	90	90	NUM
fsr-3132	117	17	%	%	NOUN
fsr-3132	117	18	equity	equity	NOUN
fsr-3132	117	19	.	.	PUNCT
fsr-3132	118	1	the	the	DET
fsr-3132	118	2	highest	high	ADJ
fsr-3132	118	3	level	level	NOUN
fsr-3132	118	4	of	of	ADP
fsr-3132	118	5	beginning	begin	VERB
fsr-3132	118	6	equity	equity	NOUN
fsr-3132	118	7	in	in	ADP
fsr-3132	118	8	the	the	DET
fsr-3132	118	9	glide	glide	NOUN
fsr-3132	118	10	path	path	NOUN
fsr-3132	118	11	is	be	AUX
fsr-3132	118	12	100	100	NUM
fsr-3132	118	13	%	%	NOUN
fsr-3132	118	14	.	.	PUNCT
fsr-3132	119	1	on	on	ADP
fsr-3132	119	2	average	average	ADJ
fsr-3132	119	3	the	the	DET
fsr-3132	119	4	tdfs	tdfs	NOUN
fsr-3132	119	5	reach	reach	VERB
fsr-3132	119	6	the	the	DET
fsr-3132	119	7	level	level	NOUN
fsr-3132	119	8	of	of	ADP
fsr-3132	119	9	40	40	NUM
fsr-3132	119	10	%	%	NOUN
fsr-3132	119	11	to	to	PART
fsr-3132	119	12	45	45	NUM
fsr-3132	119	13	%	%	NOUN
fsr-3132	119	14	equity	equity	NOUN
fsr-3132	119	15	by	by	ADP
fsr-3132	119	16	the	the	DET
fsr-3132	119	17	target	target	NOUN
fsr-3132	119	18	year	year	NOUN
fsr-3132	119	19	.	.	PUNCT
fsr-3132	120	1	the	the	DET
fsr-3132	120	2	minimum	minimum	ADJ
fsr-3132	120	3	level	level	NOUN
fsr-3132	120	4	of	of	ADP
fsr-3132	120	5	equity	equity	NOUN
fsr-3132	120	6	at	at	ADP
fsr-3132	120	7	the	the	DET
fsr-3132	120	8	target	target	NOUN
fsr-3132	120	9	year	year	NOUN
fsr-3132	120	10	is	be	AUX
fsr-3132	120	11	20	20	NUM
fsr-3132	120	12	%	%	NOUN
fsr-3132	120	13	.	.	PUNCT
fsr-3132	121	1	the	the	DET
fsr-3132	121	2	most	most	ADV
fsr-3132	121	3	common	common	ADJ
fsr-3132	121	4	combination	combination	NOUN
fsr-3132	121	5	is	be	AUX
fsr-3132	121	6	the	the	DET
fsr-3132	121	7	glide	glide	ADJ
fsr-3132	121	8	path	path	NOUN
fsr-3132	121	9	from	from	ADP
fsr-3132	121	10	90	90	NUM
fsr-3132	121	11	%	%	NOUN
fsr-3132	121	12	equity	equity	NOUN
fsr-3132	121	13	allocation	allocation	NOUN
fsr-3132	121	14	40	40	NUM
fsr-3132	121	15	years	year	NOUN
fsr-3132	121	16	before	before	ADP
fsr-3132	121	17	the	the	DET
fsr-3132	121	18	target	target	NOUN
fsr-3132	121	19	year	year	NOUN
fsr-3132	121	20	and	and	CCONJ
fsr-3132	121	21	50	50	NUM
fsr-3132	121	22	%	%	NOUN
fsr-3132	121	23	equity	equity	NOUN
fsr-3132	121	24	at	at	ADP
fsr-3132	121	25	target	target	NOUN
fsr-3132	121	26	year	year	NOUN
fsr-3132	121	27	.	.	PUNCT
fsr-3132	122	1	five	five	NUM
fsr-3132	122	2	fund	fund	NOUN
fsr-3132	122	3	families	family	NOUN
fsr-3132	122	4	follow	follow	VERB
fsr-3132	122	5	this	this	DET
fsr-3132	122	6	glide	glide	ADJ
fsr-3132	122	7	path	path	NOUN
fsr-3132	122	8	strategy	strategy	NOUN
fsr-3132	122	9	with	with	ADP
fsr-3132	122	10	their	their	PRON
fsr-3132	122	11	tdfs	tdfs	NOUN
fsr-3132	122	12	.	.	PUNCT
fsr-3132	123	1	the	the	DET
fsr-3132	123	2	next	next	ADJ
fsr-3132	123	3	most	most	ADV
fsr-3132	123	4	common	common	ADJ
fsr-3132	123	5	combinations	combination	NOUN
fsr-3132	123	6	are	be	AUX
fsr-3132	123	7	90	90	NUM
fsr-3132	123	8	%	%	NOUN
fsr-3132	123	9	to	to	PART
fsr-3132	123	10	40	40	NUM
fsr-3132	123	11	%	%	NOUN
fsr-3132	123	12	,	,	PUNCT
fsr-3132	123	13	90	90	NUM
fsr-3132	123	14	%	%	NOUN
fsr-3132	123	15	to	to	PART
fsr-3132	123	16	30	30	NUM
fsr-3132	123	17	%	%	NOUN
fsr-3132	123	18	,	,	PUNCT
fsr-3132	123	19	and	and	CCONJ
fsr-3132	123	20	90	90	NUM
fsr-3132	123	21	%	%	NOUN
fsr-3132	123	22	to	to	PART
fsr-3132	123	23	20	20	NUM
fsr-3132	123	24	%	%	NOUN
fsr-3132	123	25	equity	equity	NOUN
fsr-3132	123	26	.	.	PUNCT
fsr-3132	124	1	among	among	ADP
fsr-3132	124	2	the	the	DET
fsr-3132	124	3	more	more	ADV
fsr-3132	124	4	conservative	conservative	ADJ
fsr-3132	124	5	strategies	strategy	NOUN
fsr-3132	124	6	table	table	NOUN
fsr-3132	124	7	1	1	NUM
fsr-3132	124	8	descriptive	descriptive	ADJ
fsr-3132	124	9	statistics	statistic	NOUN
fsr-3132	124	10	for	for	ADP
fsr-3132	124	11	monthly	monthly	ADJ
fsr-3132	124	12	returns	return	NOUN
fsr-3132	124	13	for	for	ADP
fsr-3132	124	14	assets	asset	NOUN
fsr-3132	124	15	used	use	VERB
fsr-3132	124	16	in	in	ADP
fsr-3132	124	17	simulated	simulated	ADJ
fsr-3132	124	18	strategies	strategy	NOUN
fsr-3132	124	19	for	for	ADP
fsr-3132	124	20	the	the	DET
fsr-3132	124	21	period	period	NOUN
fsr-3132	124	22	from	from	ADP
fsr-3132	124	23	january	january	PROPN
fsr-3132	124	24	1970	1970	NUM
fsr-3132	124	25	to	to	ADP
fsr-3132	124	26	december	december	PROPN
fsr-3132	124	27	2010	2010	NUM
fsr-3132	124	28	10	10	NUM
fsr-3132	124	29	-	-	PUNCT
fsr-3132	124	30	year	year	NOUN
fsr-3132	124	31	t	t	NOUN
fsr-3132	124	32	-	-	PUNCT
fsr-3132	124	33	bond	bond	NOUN
fsr-3132	124	34	s&p	s&p	PROPN
fsr-3132	124	35	500	500	NUM
fsr-3132	124	36	russell	russell	PROPN
fsr-3132	124	37	2000	2000	NUM
fsr-3132	124	38	msci	msci	PROPN
fsr-3132	124	39	eafe	eafe	PROPN
fsr-3132	124	40	diversified	diversify	VERB
fsr-3132	124	41	equity	equity	NOUN
fsr-3132	124	42	portfolio	portfolio	NOUN
fsr-3132	124	43	mean	mean	VERB
fsr-3132	124	44	0.00689	0.00689	NUM
fsr-3132	124	45	0.00896	0.00896	NUM
fsr-3132	124	46	0.00908	0.00908	NUM
fsr-3132	124	47	0.00755	0.00755	NUM
fsr-3132	124	48	0.00864	0.00864	NUM
fsr-3132	124	49	median	median	NOUN
fsr-3132	124	50	0.00595	0.00595	NUM
fsr-3132	124	51	0.01202	0.01202	NUM
fsr-3132	124	52	0.01308	0.01308	NUM
fsr-3132	124	53	0.00978	0.00978	NUM
fsr-3132	124	54	0.01187	0.01187	NUM
fsr-3132	124	55	standard	standard	ADJ
fsr-3132	124	56	deviation	deviation	NOUN
fsr-3132	124	57	0.02357	0.02357	NUM
fsr-3132	124	58	0.04555	0.04555	NUM
fsr-3132	124	59	0.06392	0.06392	NUM
fsr-3132	124	60	0.05018	0.05018	NUM
fsr-3132	124	61	0.04417	0.04417	NUM
fsr-3132	124	62	sample	sample	NOUN
fsr-3132	124	63	variance	variance	NOUN
fsr-3132	124	64	0.00056	0.00056	NUM
fsr-3132	124	65	0.00207	0.00207	NUM
fsr-3132	124	66	0.00409	0.00409	NUM
fsr-3132	124	67	0.00252	0.00252	NUM
fsr-3132	124	68	0.00195	0.00195	NUM
fsr-3132	124	69	kurtosis	kurtosis	VERB
fsr-3132	124	70	1.17384	1.17384	NUM
fsr-3132	124	71	1.97282	1.97282	NUM
fsr-3132	124	72	4.29705	4.29705	NUM
fsr-3132	124	73	1.08029	1.08029	NUM
fsr-3132	124	74	3.55604	3.55604	NUM
fsr-3132	124	75	skewness	skewness	NOUN
fsr-3132	124	76	0.35503	0.35503	NUM
fsr-3132	124	77	�	�	PROPN
fsr-3132	124	78	0.48217	0.48217	NUM
fsr-3132	124	79	�	�	PROPN
fsr-3132	124	80	0.03284	0.03284	NUM
fsr-3132	124	81	�	�	PROPN
fsr-3132	124	82	0.34430	0.34430	NUM
fsr-3132	124	83	�	�	NOUN
fsr-3132	124	84	0.60492	0.60492	NUM
fsr-3132	124	85	minimum	minimum	ADJ
fsr-3132	124	86	�	�	PROPN
fsr-3132	124	87	0.06682	0.06682	NUM
fsr-3132	124	88	�	�	PROPN
fsr-3132	124	89	0.21580	0.21580	NUM
fsr-3132	124	90	�	�	PROPN
fsr-3132	124	91	0.30615	0.30615	NUM
fsr-3132	124	92	�	�	PROPN
fsr-3132	124	93	0.20239	0.20239	NUM
fsr-3132	124	94	�	�	PROPN
fsr-3132	124	95	0.22394	0.22394	NUM
fsr-3132	124	96	maximum	maximum	ADJ
fsr-3132	124	97	0.09999	0.09999	NUM
fsr-3132	124	98	0.16811	0.16811	NUM
fsr-3132	124	99	0.39515	0.39515	NUM
fsr-3132	124	100	0.17874	0.17874	NUM
fsr-3132	124	101	0.21885	0.21885	NUM
fsr-3132	124	102	table	table	NOUN
fsr-3132	124	103	2	2	NUM
fsr-3132	124	104	summary	summary	NOUN
fsr-3132	124	105	statistics	statistic	NOUN
fsr-3132	124	106	for	for	ADP
fsr-3132	124	107	the	the	DET
fsr-3132	124	108	glide	glide	ADJ
fsr-3132	124	109	paths	path	NOUN
fsr-3132	124	110	of	of	ADP
fsr-3132	124	111	tdfs	tdfs	NOUN
fsr-3132	124	112	offered	offer	VERB
fsr-3132	124	113	by	by	ADP
fsr-3132	124	114	the	the	DET
fsr-3132	124	115	mutual	mutual	ADJ
fsr-3132	124	116	fund	fund	NOUN
fsr-3132	124	117	families	family	NOUN
fsr-3132	124	118	percentage	percentage	NOUN
fsr-3132	124	119	of	of	ADP
fsr-3132	124	120	equity	equity	NOUN
fsr-3132	124	121	year	year	NOUN
fsr-3132	124	122	of	of	ADP
fsr-3132	124	123	the	the	DET
fsr-3132	124	124	kink	kink	NOUN
fsr-3132	124	125	before	before	ADP
fsr-3132	124	126	target	target	NOUN
fsr-3132	124	127	year	year	NOUN
fsr-3132	124	128	length	length	NOUN
fsr-3132	124	129	of	of	ADP
fsr-3132	124	130	the	the	DET
fsr-3132	124	131	glide	glide	NOUN
fsr-3132	124	132	path	path	NOUN
fsr-3132	124	133	in	in	ADP
fsr-3132	124	134	years	year	NOUN
fsr-3132	124	135	40	40	NUM
fsr-3132	124	136	years	year	NOUN
fsr-3132	124	137	before	before	ADP
fsr-3132	124	138	target	target	NOUN
fsr-3132	124	139	year	year	NOUN
fsr-3132	124	140	at	at	ADP
fsr-3132	124	141	target	target	NOUN
fsr-3132	124	142	year	year	NOUN
fsr-3132	124	143	before	before	ADP
fsr-3132	124	144	target	target	NOUN
fsr-3132	124	145	year	year	NOUN
fsr-3132	124	146	after	after	ADP
fsr-3132	124	147	target	target	NOUN
fsr-3132	124	148	year	year	NOUN
fsr-3132	124	149	mean	mean	NOUN
fsr-3132	125	1	91	91	NUM
fsr-3132	125	2	42	42	NUM
fsr-3132	125	3	30	30	NUM
fsr-3132	125	4	43	43	NUM
fsr-3132	125	5	19	19	NUM
fsr-3132	125	6	median	median	NOUN
fsr-3132	125	7	90	90	NUM
fsr-3132	125	8	45	45	NUM
fsr-3132	125	9	30	30	NUM
fsr-3132	125	10	40	40	NUM
fsr-3132	125	11	20	20	NUM
fsr-3132	125	12	mode	mode	NOUN
fsr-3132	125	13	90	90	NUM
fsr-3132	125	14	45	45	NUM
fsr-3132	125	15	25	25	NUM
fsr-3132	125	16	40	40	NUM
fsr-3132	125	17	10	10	NUM
fsr-3132	125	18	min	min	NOUN
fsr-3132	125	19	80	80	NUM
fsr-3132	125	20	20	20	NUM
fsr-3132	125	21	10	10	NUM
fsr-3132	125	22	40	40	NUM
fsr-3132	125	23	0	0	NUM
fsr-3132	125	24	max	max	NOUN
fsr-3132	125	25	100	100	NUM
fsr-3132	125	26	60	60	NUM
fsr-3132	125	27	35	35	NUM
fsr-3132	125	28	50	50	NUM
fsr-3132	125	29	40	40	NUM
fsr-3132	125	30	market	market	NOUN
fsr-3132	125	31	leaders	leader	NOUN
fsr-3132	125	32	fidelity	fidelity	NOUN
fsr-3132	125	33	90	90	NUM
fsr-3132	125	34	20	20	NUM
fsr-3132	125	35	n	n	CCONJ
fsr-3132	125	36	/	/	SYM
fsr-3132	125	37	a	a	DET
fsr-3132	125	38	45	45	NUM
fsr-3132	125	39	0	0	NUM
fsr-3132	125	40	vanguard	vanguard	NOUN
fsr-3132	125	41	90	90	NUM
fsr-3132	125	42	50	50	NUM
fsr-3132	125	43	25	25	NUM
fsr-3132	125	44	50	50	NUM
fsr-3132	125	45	5	5	NUM
fsr-3132	125	46	t.	t.	PROPN
fsr-3132	125	47	rowe	rowe	PROPN
fsr-3132	125	48	price	price	PROPN
fsr-3132	125	49	90	90	NUM
fsr-3132	125	50	45	45	NUM
fsr-3132	125	51	25	25	NUM
fsr-3132	125	52	45	45	NUM
fsr-3132	125	53	40	40	NUM
fsr-3132	125	54	percentage	percentage	NOUN
fsr-3132	125	55	of	of	ADP
fsr-3132	125	56	tdfs	tdfs	NOUN
fsr-3132	125	57	with	with	ADP
fsr-3132	125	58	kink	kink	PROPN
fsr-3132	125	59	in	in	ADP
fsr-3132	125	60	the	the	DET
fsr-3132	125	61	glide	glide	ADJ
fsr-3132	125	62	path	path	NOUN
fsr-3132	125	63	57	57	NUM
fsr-3132	125	64	%	%	NOUN
fsr-3132	125	65	continue	continue	VERB
fsr-3132	125	66	past	past	ADP
fsr-3132	125	67	target	target	NOUN
fsr-3132	125	68	year	year	NOUN
fsr-3132	125	69	66	66	NUM
fsr-3132	125	70	%	%	NOUN
fsr-3132	125	71	glide	glide	NOUN
fsr-3132	125	72	path	path	NOUN
fsr-3132	125	73	longer	long	ADV
fsr-3132	125	74	than	than	ADP
fsr-3132	125	75	40	40	NUM
fsr-3132	125	76	years	year	NOUN
fsr-3132	125	77	before	before	ADP
fsr-3132	125	78	target	target	NOUN
fsr-3132	125	79	year	year	NOUN
fsr-3132	125	80	41	41	NUM
fsr-3132	125	81	%	%	NOUN
fsr-3132	125	82	number	number	NOUN
fsr-3132	125	83	of	of	ADP
fsr-3132	125	84	fund	fund	NOUN
fsr-3132	125	85	families	family	NOUN
fsr-3132	125	86	45	45	NUM
fsr-3132	125	87	number	number	NOUN
fsr-3132	125	88	of	of	ADP
fsr-3132	125	89	funds	fund	NOUN
fsr-3132	125	90	230	230	NUM
fsr-3132	125	91	175r.p	175r.p	NOUN
fsr-3132	125	92	.	.	PUNCT
fsr-3132	126	1	chang	chang	PROPN
fsr-3132	126	2	et	et	PROPN
fsr-3132	126	3	al	al	PROPN
fsr-3132	126	4	.	.	PUNCT
fsr-3132	126	5	/	/	SYM
fsr-3132	126	6	financial	financial	ADJ
fsr-3132	126	7	services	service	NOUN
fsr-3132	126	8	review	review	VERB
fsr-3132	126	9	23	23	NUM
fsr-3132	126	10	(	(	PUNCT
fsr-3132	126	11	2014	2014	NUM
fsr-3132	126	12	)	)	PUNCT
fsr-3132	126	13	169–188	169–188	NUM
fsr-3132	126	14	the	the	DET
fsr-3132	126	15	common	common	ADJ
fsr-3132	126	16	combination	combination	NOUN
fsr-3132	126	17	is	be	AUX
fsr-3132	126	18	from	from	ADP
fsr-3132	126	19	80	80	NUM
fsr-3132	126	20	%	%	NOUN
fsr-3132	126	21	to	to	PART
fsr-3132	126	22	40	40	NUM
fsr-3132	126	23	%	%	NOUN
fsr-3132	126	24	,	,	PUNCT
fsr-3132	126	25	80	80	NUM
fsr-3132	126	26	%	%	NOUN
fsr-3132	126	27	to	to	PART
fsr-3132	126	28	30	30	NUM
fsr-3132	126	29	%	%	NOUN
fsr-3132	126	30	,	,	PUNCT
fsr-3132	126	31	and	and	CCONJ
fsr-3132	126	32	80	80	NUM
fsr-3132	126	33	%	%	NOUN
fsr-3132	126	34	to	to	PART
fsr-3132	126	35	20	20	NUM
fsr-3132	126	36	%	%	NOUN
fsr-3132	126	37	equity	equity	NOUN
fsr-3132	126	38	.	.	PUNCT
fsr-3132	127	1	among	among	ADP
fsr-3132	127	2	the	the	DET
fsr-3132	127	3	tdf	tdf	PROPN
fsr-3132	127	4	families	family	NOUN
fsr-3132	127	5	,	,	PUNCT
fsr-3132	127	6	57	57	NUM
fsr-3132	127	7	%	%	NOUN
fsr-3132	127	8	have	have	VERB
fsr-3132	127	9	a	a	DET
fsr-3132	127	10	kink	kink	NOUN
fsr-3132	127	11	in	in	ADP
fsr-3132	127	12	their	their	PRON
fsr-3132	127	13	glide	glide	NOUN
fsr-3132	127	14	path	path	NOUN
fsr-3132	127	15	,	,	PUNCT
fsr-3132	127	16	meaning	mean	VERB
fsr-3132	127	17	that	that	SCONJ
fsr-3132	127	18	they	they	PRON
fsr-3132	127	19	keep	keep	VERB
fsr-3132	127	20	the	the	DET
fsr-3132	127	21	equity	equity	NOUN
fsr-3132	127	22	at	at	ADP
fsr-3132	127	23	the	the	DET
fsr-3132	127	24	maximum	maximum	ADJ
fsr-3132	127	25	level	level	NOUN
fsr-3132	127	26	for	for	ADP
fsr-3132	127	27	the	the	DET
fsr-3132	127	28	first	first	ADJ
fsr-3132	127	29	five	five	NUM
fsr-3132	127	30	to	to	PART
fsr-3132	127	31	30	30	NUM
fsr-3132	127	32	years	year	NOUN
fsr-3132	127	33	.	.	PUNCT
fsr-3132	128	1	most	most	ADV
fsr-3132	128	2	commonly	commonly	ADV
fsr-3132	128	3	the	the	DET
fsr-3132	128	4	glide	glide	ADJ
fsr-3132	128	5	path	path	NOUN
fsr-3132	128	6	is	be	AUX
fsr-3132	128	7	flat	flat	ADJ
fsr-3132	128	8	for	for	ADP
fsr-3132	128	9	the	the	DET
fsr-3132	128	10	first	first	ADJ
fsr-3132	128	11	10	10	NUM
fsr-3132	128	12	years	year	NOUN
fsr-3132	128	13	and	and	CCONJ
fsr-3132	128	14	starts	start	VERB
fsr-3132	128	15	decreasing	decrease	VERB
fsr-3132	128	16	after	after	ADP
fsr-3132	128	17	10	10	NUM
fsr-3132	128	18	years	year	NOUN
fsr-3132	128	19	.	.	PUNCT
fsr-3132	129	1	tdfs	tdfs	NOUN
fsr-3132	129	2	that	that	PRON
fsr-3132	129	3	continue	continue	VERB
fsr-3132	129	4	the	the	DET
fsr-3132	129	5	glide	glide	ADJ
fsr-3132	129	6	path	path	NOUN
fsr-3132	129	7	after	after	SCONJ
fsr-3132	129	8	the	the	DET
fsr-3132	129	9	target	target	NOUN
fsr-3132	129	10	year	year	NOUN
fsr-3132	129	11	are	be	AUX
fsr-3132	129	12	called	call	VERB
fsr-3132	129	13	“	"	PUNCT
fsr-3132	129	14	through	through	ADV
fsr-3132	129	15	”	"	PUNCT
fsr-3132	129	16	tdfs	tdfs	NOUN
fsr-3132	129	17	.	.	PUNCT
fsr-3132	130	1	on	on	ADP
fsr-3132	130	2	average	average	ADJ
fsr-3132	130	3	the	the	DET
fsr-3132	130	4	glide	glide	NOUN
fsr-3132	130	5	path	path	NOUN
fsr-3132	130	6	continues	continue	VERB
fsr-3132	130	7	19	19	NUM
fsr-3132	130	8	years	year	NOUN
fsr-3132	130	9	past	past	ADP
fsr-3132	130	10	the	the	DET
fsr-3132	130	11	target	target	NOUN
fsr-3132	130	12	year	year	NOUN
fsr-3132	130	13	and	and	CCONJ
fsr-3132	130	14	66	66	NUM
fsr-3132	130	15	%	%	NOUN
fsr-3132	130	16	of	of	ADP
fsr-3132	130	17	tdfs	tdfs	NOUN
fsr-3132	130	18	are	be	AUX
fsr-3132	130	19	“	"	PUNCT
fsr-3132	130	20	through	through	ADV
fsr-3132	130	21	”	"	PUNCT
fsr-3132	130	22	tdfs	tdfs	NOUN
fsr-3132	130	23	.	.	PUNCT
fsr-3132	131	1	given	give	VERB
fsr-3132	131	2	there	there	PRON
fsr-3132	131	3	is	be	VERB
fsr-3132	131	4	a	a	DET
fsr-3132	131	5	wide	wide	ADJ
fsr-3132	131	6	range	range	NOUN
fsr-3132	131	7	of	of	ADP
fsr-3132	131	8	glide	glide	NOUN
fsr-3132	131	9	path	path	NOUN
fsr-3132	131	10	strategies	strategy	NOUN
fsr-3132	131	11	used	use	VERB
fsr-3132	131	12	by	by	ADP
fsr-3132	131	13	actual	actual	ADJ
fsr-3132	131	14	tdfs	tdfs	NOUN
fsr-3132	131	15	in	in	ADP
fsr-3132	131	16	the	the	DET
fsr-3132	131	17	marketplace	marketplace	NOUN
fsr-3132	131	18	,	,	PUNCT
fsr-3132	131	19	we	we	PRON
fsr-3132	131	20	calculate	calculate	VERB
fsr-3132	131	21	the	the	DET
fsr-3132	131	22	expected	expect	VERB
fsr-3132	131	23	utility	utility	NOUN
fsr-3132	131	24	over	over	ADP
fsr-3132	131	25	the	the	DET
fsr-3132	131	26	accumulation	accumulation	NOUN
fsr-3132	131	27	period	period	NOUN
fsr-3132	131	28	for	for	ADP
fsr-3132	131	29	different	different	ADJ
fsr-3132	131	30	glide	glide	NOUN
fsr-3132	131	31	paths	path	NOUN
fsr-3132	131	32	.	.	PUNCT
fsr-3132	132	1	each	each	DET
fsr-3132	132	2	glide	glide	ADJ
fsr-3132	132	3	path	path	NOUN
fsr-3132	132	4	can	can	AUX
fsr-3132	132	5	be	be	AUX
fsr-3132	132	6	characterized	characterize	VERB
fsr-3132	132	7	by	by	ADP
fsr-3132	132	8	its	its	PRON
fsr-3132	132	9	beginning	begin	VERB
fsr-3132	132	10	equity	equity	NOUN
fsr-3132	132	11	level	level	NOUN
fsr-3132	132	12	,	,	PUNCT
fsr-3132	132	13	ending	end	VERB
fsr-3132	132	14	equity	equity	NOUN
fsr-3132	132	15	level	level	NOUN
fsr-3132	132	16	,	,	PUNCT
fsr-3132	132	17	and	and	CCONJ
fsr-3132	132	18	the	the	DET
fsr-3132	132	19	steepness	steepness	NOUN
fsr-3132	132	20	of	of	ADP
fsr-3132	132	21	the	the	DET
fsr-3132	132	22	glide	glide	NOUN
fsr-3132	132	23	path	path	NOUN
fsr-3132	132	24	or	or	CCONJ
fsr-3132	132	25	the	the	DET
fsr-3132	132	26	presence	presence	NOUN
fsr-3132	132	27	of	of	ADP
fsr-3132	132	28	the	the	DET
fsr-3132	132	29	kink	kink	NOUN
fsr-3132	132	30	in	in	ADP
fsr-3132	132	31	the	the	DET
fsr-3132	132	32	glide	glide	NOUN
fsr-3132	132	33	path	path	NOUN
fsr-3132	132	34	.	.	PUNCT
fsr-3132	133	1	we	we	PRON
fsr-3132	133	2	analyze	analyze	VERB
fsr-3132	133	3	glide	glide	ADJ
fsr-3132	133	4	paths	path	NOUN
fsr-3132	133	5	that	that	PRON
fsr-3132	133	6	begin	begin	VERB
fsr-3132	133	7	with	with	ADP
fsr-3132	133	8	equity	equity	NOUN
fsr-3132	133	9	allocation	allocation	NOUN
fsr-3132	133	10	from	from	ADP
fsr-3132	133	11	100	100	NUM
fsr-3132	133	12	%	%	NOUN
fsr-3132	133	13	to	to	ADP
fsr-3132	133	14	50	50	NUM
fsr-3132	133	15	%	%	NOUN
fsr-3132	133	16	and	and	CCONJ
fsr-3132	133	17	end	end	VERB
fsr-3132	133	18	with	with	ADP
fsr-3132	133	19	the	the	DET
fsr-3132	133	20	equity	equity	NOUN
fsr-3132	133	21	allocation	allocation	NOUN
fsr-3132	133	22	from	from	ADP
fsr-3132	133	23	70	70	NUM
fsr-3132	133	24	%	%	NOUN
fsr-3132	133	25	to	to	PART
fsr-3132	133	26	0	0	NUM
fsr-3132	133	27	%	%	NOUN
fsr-3132	133	28	.	.	PUNCT
fsr-3132	134	1	in	in	ADP
fsr-3132	134	2	addition	addition	NOUN
fsr-3132	134	3	we	we	PRON
fsr-3132	134	4	assume	assume	VERB
fsr-3132	134	5	the	the	DET
fsr-3132	134	6	glide	glide	ADJ
fsr-3132	134	7	path	path	NOUN
fsr-3132	134	8	can	can	AUX
fsr-3132	134	9	be	be	AUX
fsr-3132	134	10	flat	flat	ADJ
fsr-3132	134	11	in	in	ADP
fsr-3132	134	12	the	the	DET
fsr-3132	134	13	beginning	beginning	NOUN
fsr-3132	134	14	of	of	ADP
fsr-3132	134	15	the	the	DET
fsr-3132	134	16	accumulation	accumulation	NOUN
fsr-3132	134	17	period	period	NOUN
fsr-3132	134	18	for	for	ADP
fsr-3132	134	19	10	10	NUM
fsr-3132	134	20	,	,	PUNCT
fsr-3132	134	21	20	20	NUM
fsr-3132	134	22	,	,	PUNCT
fsr-3132	134	23	or	or	CCONJ
fsr-3132	134	24	even	even	ADV
fsr-3132	134	25	30	30	NUM
fsr-3132	134	26	years	year	NOUN
fsr-3132	134	27	,	,	PUNCT
fsr-3132	134	28	creating	create	VERB
fsr-3132	134	29	a	a	DET
fsr-3132	134	30	kink	kink	NOUN
fsr-3132	134	31	into	into	ADP
fsr-3132	134	32	the	the	DET
fsr-3132	134	33	glide	glide	NOUN
fsr-3132	134	34	path	path	NOUN
fsr-3132	134	35	.	.	PUNCT
fsr-3132	135	1	given	give	VERB
fsr-3132	135	2	the	the	DET
fsr-3132	135	3	different	different	ADJ
fsr-3132	135	4	combinations	combination	NOUN
fsr-3132	135	5	between	between	ADP
fsr-3132	135	6	the	the	DET
fsr-3132	135	7	beginning	beginning	NOUN
fsr-3132	135	8	and	and	CCONJ
fsr-3132	135	9	ending	end	VERB
fsr-3132	135	10	equity	equity	NOUN
fsr-3132	135	11	and	and	CCONJ
fsr-3132	135	12	the	the	DET
fsr-3132	135	13	kink	kink	NOUN
fsr-3132	135	14	in	in	ADP
fsr-3132	135	15	the	the	DET
fsr-3132	135	16	glide	glide	NOUN
fsr-3132	135	17	path	path	NOUN
fsr-3132	135	18	,	,	PUNCT
fsr-3132	135	19	we	we	PRON
fsr-3132	135	20	analyze	analyze	VERB
fsr-3132	135	21	well	well	ADV
fsr-3132	135	22	over	over	ADP
fsr-3132	135	23	900	900	NUM
fsr-3132	135	24	different	different	ADJ
fsr-3132	135	25	portfolio	portfolio	NOUN
fsr-3132	135	26	strategies	strategy	NOUN
fsr-3132	135	27	.	.	PUNCT
fsr-3132	136	1	we	we	PRON
fsr-3132	136	2	simulate	simulate	VERB
fsr-3132	136	3	1,000	1,000	NUM
fsr-3132	136	4	bootstrap	bootstrap	NOUN
fsr-3132	136	5	samples	sample	NOUN
fsr-3132	136	6	for	for	ADP
fsr-3132	136	7	each	each	DET
fsr-3132	136	8	portfolio	portfolio	NOUN
fsr-3132	136	9	strategy	strategy	NOUN
fsr-3132	136	10	.	.	PUNCT
fsr-3132	137	1	in	in	ADP
fsr-3132	137	2	this	this	DET
fsr-3132	137	3	article	article	NOUN
fsr-3132	137	4	,	,	PUNCT
fsr-3132	137	5	we	we	PRON
fsr-3132	137	6	present	present	VERB
fsr-3132	137	7	the	the	DET
fsr-3132	137	8	results	result	NOUN
fsr-3132	137	9	for	for	ADP
fsr-3132	137	10	the	the	DET
fsr-3132	137	11	more	more	ADV
fsr-3132	137	12	common	common	ADJ
fsr-3132	137	13	strategies	strategy	NOUN
fsr-3132	137	14	used	use	VERB
fsr-3132	137	15	by	by	ADP
fsr-3132	137	16	the	the	DET
fsr-3132	137	17	fund	fund	NOUN
fsr-3132	137	18	families	family	NOUN
fsr-3132	137	19	as	as	ADV
fsr-3132	137	20	well	well	ADV
fsr-3132	137	21	as	as	ADP
fsr-3132	137	22	the	the	DET
fsr-3132	137	23	best	good	ADJ
fsr-3132	137	24	performing	performing	NOUN
fsr-3132	137	25	strategy	strategy	NOUN
fsr-3132	137	26	.	.	PUNCT
fsr-3132	138	1	for	for	ADP
fsr-3132	138	2	the	the	DET
fsr-3132	138	3	base	base	NOUN
fsr-3132	138	4	case	case	NOUN
fsr-3132	138	5	we	we	PRON
fsr-3132	138	6	examine	examine	VERB
fsr-3132	138	7	the	the	DET
fsr-3132	138	8	representative	representative	ADJ
fsr-3132	138	9	investor	investor	NOUN
fsr-3132	138	10	who	who	PRON
fsr-3132	138	11	starts	start	VERB
fsr-3132	138	12	saving	save	VERB
fsr-3132	138	13	for	for	ADP
fsr-3132	138	14	retirement	retirement	NOUN
fsr-3132	138	15	in	in	ADP
fsr-3132	138	16	the	the	DET
fsr-3132	138	17	beginning	beginning	NOUN
fsr-3132	138	18	of	of	ADP
fsr-3132	138	19	her	her	PRON
fsr-3132	138	20	professional	professional	ADJ
fsr-3132	138	21	career	career	NOUN
fsr-3132	138	22	and	and	CCONJ
fsr-3132	138	23	has	have	VERB
fsr-3132	138	24	at	at	ADV
fsr-3132	138	25	least	least	ADV
fsr-3132	138	26	40	40	NUM
fsr-3132	138	27	years	year	NOUN
fsr-3132	138	28	to	to	PART
fsr-3132	138	29	accumulate	accumulate	VERB
fsr-3132	138	30	funds	fund	NOUN
fsr-3132	138	31	to	to	PART
fsr-3132	138	32	support	support	VERB
fsr-3132	138	33	her	her	PRON
fsr-3132	138	34	retirement	retirement	NOUN
fsr-3132	138	35	years	year	NOUN
fsr-3132	138	36	.	.	PUNCT
fsr-3132	139	1	in	in	ADP
fsr-3132	139	2	our	our	PRON
fsr-3132	139	3	results	result	NOUN
fsr-3132	139	4	we	we	PRON
fsr-3132	139	5	present	present	VERB
fsr-3132	139	6	the	the	DET
fsr-3132	139	7	expected	expect	VERB
fsr-3132	139	8	utility	utility	NOUN
fsr-3132	139	9	for	for	ADP
fsr-3132	139	10	the	the	DET
fsr-3132	139	11	following	follow	VERB
fsr-3132	139	12	seven	seven	NUM
fsr-3132	139	13	common	common	ADJ
fsr-3132	139	14	lifecycle	lifecycle	NOUN
fsr-3132	139	15	strategies	strategy	NOUN
fsr-3132	139	16	:	:	PUNCT
fsr-3132	139	17	90	90	NUM
fsr-3132	139	18	%	%	NOUN
fsr-3132	139	19	to	to	PART
fsr-3132	139	20	50	50	NUM
fsr-3132	139	21	%	%	NOUN
fsr-3132	139	22	,	,	PUNCT
fsr-3132	139	23	90	90	NUM
fsr-3132	139	24	%	%	NOUN
fsr-3132	139	25	to	to	PART
fsr-3132	139	26	40	40	NUM
fsr-3132	139	27	%	%	NOUN
fsr-3132	139	28	,	,	PUNCT
fsr-3132	139	29	90	90	NUM
fsr-3132	139	30	%	%	NOUN
fsr-3132	139	31	to	to	PART
fsr-3132	139	32	30	30	NUM
fsr-3132	139	33	%	%	NOUN
fsr-3132	139	34	,	,	PUNCT
fsr-3132	139	35	90	90	NUM
fsr-3132	139	36	%	%	NOUN
fsr-3132	139	37	to	to	PART
fsr-3132	139	38	20	20	NUM
fsr-3132	139	39	%	%	NOUN
fsr-3132	139	40	,	,	PUNCT
fsr-3132	139	41	80	80	NUM
fsr-3132	139	42	%	%	NOUN
fsr-3132	139	43	to	to	PART
fsr-3132	139	44	40	40	NUM
fsr-3132	139	45	%	%	NOUN
fsr-3132	139	46	,	,	PUNCT
fsr-3132	139	47	80	80	NUM
fsr-3132	139	48	%	%	NOUN
fsr-3132	139	49	to	to	PART
fsr-3132	139	50	30	30	NUM
fsr-3132	139	51	%	%	NOUN
fsr-3132	139	52	,	,	PUNCT
fsr-3132	139	53	and	and	CCONJ
fsr-3132	139	54	80	80	NUM
fsr-3132	139	55	%	%	NOUN
fsr-3132	139	56	to	to	PART
fsr-3132	139	57	20	20	NUM
fsr-3132	139	58	%	%	NOUN
fsr-3132	139	59	.	.	PUNCT
fsr-3132	140	1	for	for	ADP
fsr-3132	140	2	comparison	comparison	NOUN
fsr-3132	140	3	we	we	PRON
fsr-3132	140	4	also	also	ADV
fsr-3132	140	5	present	present	VERB
fsr-3132	140	6	results	result	NOUN
fsr-3132	140	7	from	from	ADP
fsr-3132	140	8	the	the	DET
fsr-3132	140	9	best	good	ADJ
fsr-3132	140	10	performing	perform	VERB
fsr-3132	140	11	lifecycle	lifecycle	NOUN
fsr-3132	140	12	and	and	CCONJ
fsr-3132	140	13	lifestyle	lifestyle	NOUN
fsr-3132	140	14	strategies	strategy	NOUN
fsr-3132	140	15	.	.	PUNCT
fsr-3132	141	1	3	3	X
fsr-3132	141	2	.	.	X
fsr-3132	141	3	empirical	empirical	ADJ
fsr-3132	141	4	results	result	NOUN
fsr-3132	141	5	3.1	3.1	NUM
fsr-3132	141	6	.	.	PUNCT
fsr-3132	141	7	expected	expect	VERB
fsr-3132	141	8	utility	utility	NOUN
fsr-3132	141	9	for	for	ADP
fsr-3132	141	10	the	the	DET
fsr-3132	141	11	representative	representative	ADJ
fsr-3132	141	12	investor	investor	NOUN
fsr-3132	141	13	with	with	ADP
fsr-3132	141	14	different	different	ADJ
fsr-3132	141	15	accumulation	accumulation	NOUN
fsr-3132	141	16	periods	period	NOUN
fsr-3132	141	17	we	we	PRON
fsr-3132	141	18	first	first	ADV
fsr-3132	141	19	consider	consider	VERB
fsr-3132	141	20	the	the	DET
fsr-3132	141	21	case	case	NOUN
fsr-3132	141	22	of	of	ADP
fsr-3132	141	23	a	a	DET
fsr-3132	141	24	young	young	ADJ
fsr-3132	141	25	investor	investor	NOUN
fsr-3132	141	26	who	who	PRON
fsr-3132	141	27	has	have	VERB
fsr-3132	141	28	at	at	ADV
fsr-3132	141	29	least	least	ADV
fsr-3132	141	30	40	40	NUM
fsr-3132	141	31	years	year	NOUN
fsr-3132	141	32	to	to	PART
fsr-3132	141	33	save	save	VERB
fsr-3132	141	34	up	up	ADP
fsr-3132	141	35	for	for	ADP
fsr-3132	141	36	her	her	PRON
fsr-3132	141	37	retirement	retirement	NOUN
fsr-3132	141	38	and	and	CCONJ
fsr-3132	141	39	calculate	calculate	VERB
fsr-3132	141	40	the	the	DET
fsr-3132	141	41	total	total	ADJ
fsr-3132	141	42	accumulation	accumulation	NOUN
fsr-3132	141	43	period	period	NOUN
fsr-3132	141	44	expected	expect	VERB
fsr-3132	141	45	utility	utility	NOUN
fsr-3132	141	46	following	follow	VERB
fsr-3132	141	47	eq	eq	ADP
fsr-3132	141	48	.	.	PUNCT
fsr-3132	142	1	(	(	PUNCT
fsr-3132	142	2	1	1	X
fsr-3132	142	3	)	)	PUNCT
fsr-3132	142	4	for	for	ADP
fsr-3132	142	5	a	a	DET
fsr-3132	142	6	wide	wide	ADJ
fsr-3132	142	7	range	range	NOUN
fsr-3132	142	8	of	of	ADP
fsr-3132	142	9	different	different	ADJ
fsr-3132	142	10	portfolio	portfolio	NOUN
fsr-3132	142	11	strategies	strategy	NOUN
fsr-3132	142	12	;	;	PUNCT
fsr-3132	142	13	both	both	CCONJ
fsr-3132	142	14	lifestyle	lifestyle	NOUN
fsr-3132	142	15	and	and	CCONJ
fsr-3132	142	16	lifecycle	lifecycle	NOUN
fsr-3132	142	17	.	.	PUNCT
fsr-3132	143	1	table	table	NOUN
fsr-3132	143	2	3	3	NUM
fsr-3132	143	3	summarizes	summarize	VERB
fsr-3132	143	4	the	the	DET
fsr-3132	143	5	results	result	NOUN
fsr-3132	143	6	for	for	ADP
fsr-3132	143	7	the	the	DET
fsr-3132	143	8	common	common	ADJ
fsr-3132	143	9	strategies	strategy	NOUN
fsr-3132	143	10	offered	offer	VERB
fsr-3132	143	11	by	by	ADP
fsr-3132	143	12	the	the	DET
fsr-3132	143	13	fund	fund	NOUN
fsr-3132	143	14	families	family	NOUN
fsr-3132	143	15	as	as	SCONJ
fsr-3132	143	16	specified	specify	VERB
fsr-3132	143	17	in	in	ADP
fsr-3132	143	18	section	section	NOUN
fsr-3132	143	19	2.4	2.4	NUM
fsr-3132	143	20	.	.	PUNCT
fsr-3132	144	1	the	the	DET
fsr-3132	144	2	results	result	NOUN
fsr-3132	144	3	are	be	AUX
fsr-3132	144	4	generated	generate	VERB
fsr-3132	144	5	from	from	ADP
fsr-3132	144	6	1,000	1,000	NUM
fsr-3132	144	7	simulations	simulation	NOUN
fsr-3132	144	8	in	in	ADP
fsr-3132	144	9	each	each	DET
fsr-3132	144	10	scenario	scenario	NOUN
fsr-3132	144	11	,	,	PUNCT
fsr-3132	144	12	with	with	ADP
fsr-3132	144	13	equity	equity	NOUN
fsr-3132	144	14	allocation	allocation	NOUN
fsr-3132	144	15	5	5	NUM
fsr-3132	144	16	%	%	NOUN
fsr-3132	144	17	increments	increment	NOUN
fsr-3132	144	18	ranging	range	VERB
fsr-3132	144	19	from	from	ADP
fsr-3132	144	20	0	0	NUM
fsr-3132	144	21	%	%	NOUN
fsr-3132	144	22	to	to	PART
fsr-3132	144	23	100	100	NUM
fsr-3132	144	24	%	%	NOUN
fsr-3132	144	25	(	(	PUNCT
fsr-3132	144	26	e.g.	e.g.	ADJ
fsr-3132	144	27	,	,	PUNCT
fsr-3132	144	28	20	20	NUM
fsr-3132	144	29	times	time	NOUN
fsr-3132	144	30	)	)	PUNCT
fsr-3132	144	31	.	.	PUNCT
fsr-3132	145	1	table	table	NOUN
fsr-3132	145	2	3	3	NUM
fsr-3132	145	3	reports	report	VERB
fsr-3132	145	4	four	four	NUM
fsr-3132	145	5	levels	level	NOUN
fsr-3132	145	6	of	of	ADP
fsr-3132	145	7	beginning	begin	VERB
fsr-3132	145	8	-	-	PUNCT
fsr-3132	145	9	ending	end	VERB
fsr-3132	145	10	risk	risk	NOUN
fsr-3132	145	11	aversion	aversion	NOUN
fsr-3132	145	12	:	:	PUNCT
fsr-3132	145	13	{	{	PUNCT
fsr-3132	145	14	0–4	0–4	X
fsr-3132	145	15	;	;	PUNCT
fsr-3132	145	16	0–6	0–6	NUM
fsr-3132	145	17	;	;	PUNCT
fsr-3132	145	18	2–4	2–4	NUM
fsr-3132	145	19	;	;	PUNCT
fsr-3132	145	20	2–6	2–6	NOUN
fsr-3132	145	21	}	}	PUNCT
fsr-3132	145	22	in	in	ADP
fsr-3132	145	23	the	the	DET
fsr-3132	145	24	first	first	ADJ
fsr-3132	145	25	column	column	NOUN
fsr-3132	145	26	.	.	PUNCT
fsr-3132	146	1	we	we	PRON
fsr-3132	146	2	report	report	VERB
fsr-3132	146	3	the	the	DET
fsr-3132	146	4	expected	expect	VERB
fsr-3132	146	5	utility	utility	NOUN
fsr-3132	146	6	for	for	ADP
fsr-3132	146	7	the	the	DET
fsr-3132	146	8	best	good	ADJ
fsr-3132	146	9	lifestyle	lifestyle	NOUN
fsr-3132	146	10	strategy	strategy	NOUN
fsr-3132	146	11	and	and	CCONJ
fsr-3132	146	12	its	its	PRON
fsr-3132	146	13	corresponding	corresponding	ADJ
fsr-3132	146	14	glide	glide	NOUN
fsr-3132	146	15	path	path	NOUN
fsr-3132	146	16	in	in	ADP
fsr-3132	146	17	the	the	DET
fsr-3132	146	18	second	second	ADJ
fsr-3132	146	19	to	to	ADP
fsr-3132	146	20	third	third	ADJ
fsr-3132	146	21	columns	column	NOUN
fsr-3132	146	22	.	.	PUNCT
fsr-3132	147	1	for	for	ADP
fsr-3132	147	2	ease	ease	NOUN
fsr-3132	147	3	of	of	ADP
fsr-3132	147	4	comparison	comparison	NOUN
fsr-3132	147	5	,	,	PUNCT
fsr-3132	147	6	we	we	PRON
fsr-3132	147	7	use	use	VERB
fsr-3132	147	8	the	the	DET
fsr-3132	147	9	expected	expect	VERB
fsr-3132	147	10	utility	utility	NOUN
fsr-3132	147	11	for	for	ADP
fsr-3132	147	12	the	the	DET
fsr-3132	147	13	best	good	ADJ
fsr-3132	147	14	lifestyle	lifestyle	NOUN
fsr-3132	147	15	strategy	strategy	NOUN
fsr-3132	147	16	as	as	ADP
fsr-3132	147	17	a	a	DET
fsr-3132	147	18	benchmark	benchmark	NOUN
fsr-3132	147	19	,	,	PUNCT
fsr-3132	147	20	and	and	CCONJ
fsr-3132	147	21	report	report	VERB
fsr-3132	147	22	the	the	DET
fsr-3132	147	23	expected	expect	VERB
fsr-3132	147	24	utilities	utility	NOUN
fsr-3132	147	25	for	for	ADP
fsr-3132	147	26	the	the	DET
fsr-3132	147	27	seven	seven	NUM
fsr-3132	147	28	lifecycle	lifecycle	NOUN
fsr-3132	147	29	strategies	strategy	NOUN
fsr-3132	147	30	as	as	ADP
fsr-3132	147	31	a	a	DET
fsr-3132	147	32	percentage	percentage	NOUN
fsr-3132	147	33	difference	difference	NOUN
fsr-3132	147	34	relative	relative	ADJ
fsr-3132	147	35	to	to	ADP
fsr-3132	147	36	the	the	DET
fsr-3132	147	37	benchmark	benchmark	NOUN
fsr-3132	147	38	.	.	PUNCT
fsr-3132	148	1	in	in	ADP
fsr-3132	148	2	addition	addition	NOUN
fsr-3132	148	3	,	,	PUNCT
fsr-3132	148	4	the	the	DET
fsr-3132	148	5	last	last	ADJ
fsr-3132	148	6	three	three	NUM
fsr-3132	148	7	columns	column	NOUN
fsr-3132	148	8	in	in	ADP
fsr-3132	148	9	table	table	NOUN
fsr-3132	148	10	3	3	NUM
fsr-3132	148	11	compare	compare	VERB
fsr-3132	148	12	the	the	DET
fsr-3132	148	13	best	good	ADJ
fsr-3132	148	14	lifecycle	lifecycle	NOUN
fsr-3132	148	15	strategy	strategy	NOUN
fsr-3132	148	16	with	with	ADP
fsr-3132	148	17	the	the	DET
fsr-3132	148	18	best	good	ADJ
fsr-3132	148	19	lifestyle	lifestyle	NOUN
fsr-3132	148	20	strategy	strategy	NOUN
fsr-3132	148	21	by	by	ADP
fsr-3132	148	22	reporting	report	VERB
fsr-3132	148	23	the	the	DET
fsr-3132	148	24	percentage	percentage	NOUN
fsr-3132	148	25	difference	difference	NOUN
fsr-3132	148	26	,	,	PUNCT
fsr-3132	148	27	the	the	DET
fsr-3132	148	28	glide	glide	NOUN
fsr-3132	148	29	path	path	NOUN
fsr-3132	148	30	,	,	PUNCT
fsr-3132	148	31	and	and	CCONJ
fsr-3132	148	32	the	the	DET
fsr-3132	148	33	t	t	PROPN
fsr-3132	148	34	-	-	PUNCT
fsr-3132	148	35	statistics	statistic	NOUN
fsr-3132	148	36	.	.	PUNCT
fsr-3132	149	1	panel	panel	NOUN
fsr-3132	149	2	a	a	DET
fsr-3132	149	3	reports	report	NOUN
fsr-3132	149	4	an	an	DET
fsr-3132	149	5	investor	investor	NOUN
fsr-3132	149	6	with	with	ADP
fsr-3132	149	7	40	40	NUM
fsr-3132	149	8	years	year	NOUN
fsr-3132	149	9	of	of	ADP
fsr-3132	149	10	investment	investment	NOUN
fsr-3132	149	11	horizon	horizon	NOUN
fsr-3132	149	12	followed	follow	VERB
fsr-3132	149	13	by	by	ADP
fsr-3132	149	14	panels	panel	NOUN
fsr-3132	149	15	b	b	PROPN
fsr-3132	149	16	,	,	PUNCT
fsr-3132	149	17	c	c	NOUN
fsr-3132	149	18	,	,	PUNCT
fsr-3132	149	19	and	and	CCONJ
fsr-3132	149	20	d	d	X
fsr-3132	149	21	with	with	ADP
fsr-3132	149	22	30	30	NUM
fsr-3132	149	23	-	-	PUNCT
fsr-3132	149	24	years	year	NOUN
fsr-3132	149	25	,	,	PUNCT
fsr-3132	149	26	20	20	NUM
fsr-3132	149	27	-	-	PUNCT
fsr-3132	149	28	years	year	NOUN
fsr-3132	149	29	,	,	PUNCT
fsr-3132	149	30	10	10	NUM
fsr-3132	149	31	-	-	PUNCT
fsr-3132	149	32	years	year	NOUN
fsr-3132	149	33	of	of	ADP
fsr-3132	149	34	investment	investment	NOUN
fsr-3132	149	35	horizons	horizon	NOUN
fsr-3132	149	36	respectively	respectively	ADV
fsr-3132	149	37	.	.	PUNCT
fsr-3132	150	1	from	from	ADP
fsr-3132	150	2	table	table	NOUN
fsr-3132	150	3	3	3	NUM
fsr-3132	150	4	,	,	PUNCT
fsr-3132	150	5	we	we	PRON
fsr-3132	150	6	176	176	NUM
fsr-3132	150	7	r.p	r.p	NOUN
fsr-3132	150	8	.	.	PROPN
fsr-3132	150	9	chang	chang	PROPN
fsr-3132	150	10	et	et	PROPN
fsr-3132	150	11	al	al	PROPN
fsr-3132	150	12	.	.	PUNCT
fsr-3132	150	13	/	/	SYM
fsr-3132	150	14	financial	financial	ADJ
fsr-3132	150	15	services	service	NOUN
fsr-3132	150	16	review	review	VERB
fsr-3132	150	17	23	23	NUM
fsr-3132	150	18	(	(	PUNCT
fsr-3132	150	19	2014	2014	NUM
fsr-3132	150	20	)	)	PUNCT
fsr-3132	150	21	169–188	169–188	NUM
fsr-3132	150	22	can	can	AUX
fsr-3132	150	23	see	see	VERB
fsr-3132	150	24	that	that	PRON
fsr-3132	150	25	as	as	SCONJ
fsr-3132	150	26	risk	risk	NOUN
fsr-3132	150	27	aversion	aversion	NOUN
fsr-3132	150	28	levels	level	NOUN
fsr-3132	150	29	increase	increase	VERB
fsr-3132	150	30	,	,	PUNCT
fsr-3132	150	31	the	the	DET
fsr-3132	150	32	total	total	NOUN
fsr-3132	150	33	expected	expect	VERB
fsr-3132	150	34	utilities	utility	NOUN
fsr-3132	150	35	decrease	decrease	NOUN
fsr-3132	150	36	.	.	PUNCT
fsr-3132	151	1	even	even	ADV
fsr-3132	151	2	though	though	ADV
fsr-3132	151	3	,	,	PUNCT
fsr-3132	151	4	theoretically	theoretically	ADV
fsr-3132	151	5	,	,	PUNCT
fsr-3132	151	6	one	one	PRON
fsr-3132	151	7	can	can	AUX
fsr-3132	151	8	always	always	ADV
fsr-3132	151	9	find	find	VERB
fsr-3132	151	10	a	a	DET
fsr-3132	151	11	lifecycle	lifecycle	NOUN
fsr-3132	151	12	strategy	strategy	NOUN
fsr-3132	151	13	which	which	PRON
fsr-3132	151	14	has	have	VERB
fsr-3132	151	15	higher	high	ADJ
fsr-3132	151	16	expected	expect	VERB
fsr-3132	151	17	utility	utility	NOUN
fsr-3132	151	18	than	than	ADP
fsr-3132	151	19	lifestyle	lifestyle	NOUN
fsr-3132	151	20	strategy	strategy	NOUN
fsr-3132	151	21	,	,	PUNCT
fsr-3132	151	22	but	but	CCONJ
fsr-3132	151	23	for	for	ADP
fsr-3132	151	24	investors	investor	NOUN
fsr-3132	151	25	with	with	ADP
fsr-3132	151	26	high	high	ADJ
fsr-3132	151	27	levels	level	NOUN
fsr-3132	151	28	of	of	ADP
fsr-3132	151	29	risk	risk	NOUN
fsr-3132	151	30	aversion	aversion	NOUN
fsr-3132	151	31	,	,	PUNCT
fsr-3132	151	32	the	the	DET
fsr-3132	151	33	current	current	ADJ
fsr-3132	151	34	common	common	ADJ
fsr-3132	151	35	market	market	NOUN
fsr-3132	151	36	lifecycle	lifecycle	NOUN
fsr-3132	151	37	strategies	strategy	NOUN
fsr-3132	151	38	do	do	AUX
fsr-3132	151	39	not	not	PART
fsr-3132	151	40	consistently	consistently	ADV
fsr-3132	151	41	generate	generate	VERB
fsr-3132	151	42	higher	high	ADJ
fsr-3132	151	43	total	total	NOUN
fsr-3132	151	44	expected	expect	VERB
fsr-3132	151	45	utilities	utility	NOUN
fsr-3132	151	46	than	than	ADP
fsr-3132	151	47	lifestyle	lifestyle	NOUN
fsr-3132	151	48	strategies	strategy	NOUN
fsr-3132	151	49	.	.	PUNCT
fsr-3132	152	1	in	in	ADP
fsr-3132	152	2	our	our	PRON
fsr-3132	152	3	base	base	NOUN
fsr-3132	152	4	case	case	NOUN
fsr-3132	152	5	the	the	DET
fsr-3132	152	6	representative	representative	ADJ
fsr-3132	152	7	investor	investor	NOUN
fsr-3132	152	8	is	be	AUX
fsr-3132	152	9	a	a	DET
fsr-3132	152	10	young	young	ADJ
fsr-3132	152	11	person	person	NOUN
fsr-3132	152	12	who	who	PRON
fsr-3132	152	13	has	have	AUX
fsr-3132	152	14	just	just	ADV
fsr-3132	152	15	entered	enter	VERB
fsr-3132	152	16	the	the	DET
fsr-3132	152	17	work	work	NOUN
fsr-3132	152	18	force	force	NOUN
fsr-3132	152	19	and	and	CCONJ
fsr-3132	152	20	is	be	AUX
fsr-3132	152	21	risk	risk	NOUN
fsr-3132	152	22	neutral	neutral	ADJ
fsr-3132	152	23	(	(	PUNCT
fsr-3132	152	24	a	a	DET
fsr-3132	152	25	�	�	PROPN
fsr-3132	152	26	0	0	NUM
fsr-3132	152	27	)	)	PUNCT
fsr-3132	152	28	when	when	SCONJ
fsr-3132	152	29	she	she	PRON
fsr-3132	152	30	starts	start	VERB
fsr-3132	152	31	saving	save	VERB
fsr-3132	152	32	up	up	ADP
fsr-3132	152	33	for	for	ADP
fsr-3132	152	34	retirement	retirement	NOUN
fsr-3132	152	35	,	,	PUNCT
fsr-3132	152	36	and	and	CCONJ
fsr-3132	152	37	becomes	become	VERB
fsr-3132	152	38	less	less	ADJ
fsr-3132	152	39	risk	risk	NOUN
fsr-3132	152	40	tolerant	tolerant	ADJ
fsr-3132	152	41	as	as	SCONJ
fsr-3132	152	42	she	she	PRON
fsr-3132	152	43	gets	get	VERB
fsr-3132	152	44	older	old	ADJ
fsr-3132	152	45	,	,	PUNCT
fsr-3132	152	46	with	with	ADP
fsr-3132	152	47	risk	risk	NOUN
fsr-3132	152	48	aversion	aversion	NOUN
fsr-3132	152	49	level	level	NOUN
fsr-3132	152	50	increasing	increase	VERB
fsr-3132	152	51	in	in	ADP
fsr-3132	152	52	equal	equal	ADJ
fsr-3132	152	53	increments	increment	NOUN
fsr-3132	152	54	every	every	DET
fsr-3132	152	55	year	year	NOUN
fsr-3132	152	56	and	and	CCONJ
fsr-3132	152	57	reaching	reach	VERB
fsr-3132	152	58	the	the	DET
fsr-3132	152	59	level	level	NOUN
fsr-3132	152	60	of	of	ADP
fsr-3132	152	61	4	4	NUM
fsr-3132	152	62	at	at	ADP
fsr-3132	152	63	target	target	NOUN
fsr-3132	152	64	retirement	retirement	NOUN
fsr-3132	152	65	year	year	NOUN
fsr-3132	152	66	.	.	PUNCT
fsr-3132	153	1	on	on	ADP
fsr-3132	153	2	average	average	ADJ
fsr-3132	153	3	this	this	PRON
fsr-3132	153	4	implies	imply	VERB
fsr-3132	153	5	risk	risk	NOUN
fsr-3132	153	6	aversion	aversion	NOUN
fsr-3132	153	7	of	of	ADP
fsr-3132	153	8	2	2	NUM
fsr-3132	153	9	.	.	PUNCT
fsr-3132	153	10	even	even	ADV
fsr-3132	153	11	though	though	SCONJ
fsr-3132	153	12	our	our	PRON
fsr-3132	153	13	investor	investor	NOUN
fsr-3132	153	14	is	be	AUX
fsr-3132	153	15	risk	risk	NOUN
fsr-3132	153	16	neutral	neutral	ADJ
fsr-3132	153	17	when	when	SCONJ
fsr-3132	153	18	she	she	PRON
fsr-3132	153	19	starts	start	VERB
fsr-3132	153	20	investing	investing	NOUN
fsr-3132	153	21	,	,	PUNCT
fsr-3132	153	22	we	we	PRON
fsr-3132	153	23	find	find	VERB
fsr-3132	153	24	that	that	SCONJ
fsr-3132	153	25	100	100	NUM
fsr-3132	153	26	%	%	NOUN
fsr-3132	153	27	portfolio	portfolio	NOUN
fsr-3132	153	28	does	do	AUX
fsr-3132	153	29	not	not	PART
fsr-3132	153	30	yield	yield	VERB
fsr-3132	153	31	him	he	PRON
fsr-3132	153	32	the	the	DET
fsr-3132	153	33	highest	high	ADJ
fsr-3132	153	34	expected	expect	VERB
fsr-3132	153	35	utility	utility	NOUN
fsr-3132	153	36	among	among	ADP
fsr-3132	153	37	the	the	DET
fsr-3132	153	38	lifestyle	lifestyle	NOUN
fsr-3132	153	39	strategies	strategy	NOUN
fsr-3132	153	40	and	and	CCONJ
fsr-3132	153	41	she	she	PRON
fsr-3132	153	42	should	should	AUX
fsr-3132	153	43	invest	invest	VERB
fsr-3132	153	44	in	in	ADP
fsr-3132	153	45	the	the	DET
fsr-3132	153	46	55	55	NUM
fsr-3132	153	47	%	%	NOUN
fsr-3132	153	48	equity	equity	NOUN
fsr-3132	153	49	portfolio	portfolio	NOUN
fsr-3132	153	50	instead	instead	ADV
fsr-3132	153	51	.	.	PUNCT
fsr-3132	154	1	panel	panel	NOUN
fsr-3132	154	2	a	a	DET
fsr-3132	154	3	of	of	ADP
fsr-3132	154	4	table	table	NOUN
fsr-3132	154	5	3	3	NUM
fsr-3132	154	6	shows	show	VERB
fsr-3132	154	7	that	that	SCONJ
fsr-3132	154	8	all	all	DET
fsr-3132	154	9	table	table	NOUN
fsr-3132	154	10	3	3	NUM
fsr-3132	154	11	total	total	NOUN
fsr-3132	154	12	accumulation	accumulation	NOUN
fsr-3132	154	13	period	period	NOUN
fsr-3132	154	14	expected	expect	VERB
fsr-3132	154	15	utility	utility	NOUN
fsr-3132	154	16	for	for	ADP
fsr-3132	154	17	the	the	DET
fsr-3132	154	18	investor	investor	NOUN
fsr-3132	154	19	who	who	PRON
fsr-3132	154	20	becomes	become	VERB
fsr-3132	154	21	more	more	ADJ
fsr-3132	154	22	risk	risk	NOUN
fsr-3132	154	23	averse	averse	ADJ
fsr-3132	154	24	as	as	SCONJ
fsr-3132	154	25	she	she	PRON
fsr-3132	154	26	gets	get	VERB
fsr-3132	154	27	older	old	ADJ
fsr-3132	154	28	risk	risk	NOUN
fsr-3132	154	29	aversion	aversion	NOUN
fsr-3132	154	30	best	good	ADJ
fsr-3132	154	31	lifestyle	lifestyle	NOUN
fsr-3132	154	32	strategy	strategy	NOUN
fsr-3132	154	33	lifecycle	lifecycle	NOUN
fsr-3132	154	34	strategies	strategy	NOUN
fsr-3132	154	35	best	good	ADJ
fsr-3132	154	36	theoretical	theoretical	ADJ
fsr-3132	154	37	lifecycle	lifecycle	NOUN
fsr-3132	154	38	strategy	strategy	NOUN
fsr-3132	154	39	e(u	e(u	PROPN
fsr-3132	154	40	)	)	PUNCT
fsr-3132	154	41	equity	equity	NOUN
fsr-3132	154	42	90	90	NUM
fsr-3132	154	43	to	to	PART
fsr-3132	154	44	50	50	NUM
fsr-3132	154	45	90	90	NUM
fsr-3132	154	46	to	to	PART
fsr-3132	154	47	40	40	NUM
fsr-3132	154	48	90	90	NUM
fsr-3132	154	49	to	to	PART
fsr-3132	154	50	30	30	NUM
fsr-3132	154	51	90	90	NUM
fsr-3132	154	52	to	to	PART
fsr-3132	154	53	20	20	NUM
fsr-3132	154	54	80	80	NUM
fsr-3132	154	55	to	to	PART
fsr-3132	154	56	40	40	NUM
fsr-3132	154	57	80	80	NUM
fsr-3132	154	58	to	to	PART
fsr-3132	154	59	30	30	NUM
fsr-3132	154	60	80	80	NUM
fsr-3132	154	61	to	to	PART
fsr-3132	154	62	20	20	NUM
fsr-3132	154	63	glide	glide	NOUN
fsr-3132	154	64	path	path	NOUN
fsr-3132	154	65	t	t	PROPN
fsr-3132	154	66	-	-	PUNCT
fsr-3132	154	67	stat	stat	PROPN
fsr-3132	154	68	panel	panel	NOUN
fsr-3132	154	69	a	a	DET
fsr-3132	154	70	:	:	SYM
fsr-3132	154	71	40	40	NUM
fsr-3132	154	72	year	year	NOUN
fsr-3132	154	73	investment	investment	NOUN
fsr-3132	154	74	horizon	horizon	NOUN
fsr-3132	154	75	0	0	NUM
fsr-3132	154	76	to	to	ADP
fsr-3132	154	77	4	4	NUM
fsr-3132	154	78	3.284	3.284	NUM
fsr-3132	154	79	55	55	NUM
fsr-3132	154	80	%	%	NOUN
fsr-3132	154	81	2.7	2.7	NUM
fsr-3132	154	82	%	%	NOUN
fsr-3132	154	83	3.5	3.5	NUM
fsr-3132	154	84	%	%	NOUN
fsr-3132	154	85	3.8	3.8	NUM
fsr-3132	154	86	%	%	NOUN
fsr-3132	154	87	3.7	3.7	NUM
fsr-3132	154	88	%	%	NOUN
fsr-3132	154	89	2.8	2.8	NUM
fsr-3132	154	90	%	%	NOUN
fsr-3132	154	91	3.0	3.0	NUM
fsr-3132	154	92	%	%	NOUN
fsr-3132	154	93	2.7	2.7	NUM
fsr-3132	154	94	%	%	NOUN
fsr-3132	154	95	4.5	4.5	NUM
fsr-3132	154	96	%	%	NOUN
fsr-3132	154	97	100	100	NUM
fsr-3132	154	98	to	to	PART
fsr-3132	154	99	25	25	NUM
fsr-3132	154	100	57.45	57.45	NUM
fsr-3132	154	101	*	*	PUNCT
fsr-3132	154	102	*	*	SYM
fsr-3132	154	103	0	0	NUM
fsr-3132	154	104	to	to	ADP
fsr-3132	154	105	6	6	NUM
fsr-3132	154	106	3.075	3.075	NUM
fsr-3132	154	107	40	40	NUM
fsr-3132	154	108	%	%	NOUN
fsr-3132	154	109	�	�	NOUN
fsr-3132	154	110	1.0	1.0	NUM
fsr-3132	154	111	%	%	NOUN
fsr-3132	154	112	1.4	1.4	NUM
fsr-3132	154	113	%	%	NOUN
fsr-3132	154	114	3.1	3.1	NUM
fsr-3132	154	115	%	%	NOUN
fsr-3132	154	116	4.0	4.0	NUM
fsr-3132	154	117	%	%	NOUN
fsr-3132	154	118	1.7	1.7	NUM
fsr-3132	154	119	%	%	NOUN
fsr-3132	154	120	3.1	3.1	NUM
fsr-3132	154	121	%	%	NOUN
fsr-3132	154	122	3.7	3.7	NUM
fsr-3132	154	123	%	%	NOUN
fsr-3132	154	124	4.4	4.4	NUM
fsr-3132	154	125	%	%	NOUN
fsr-3132	154	126	100	100	NUM
fsr-3132	154	127	to	to	PART
fsr-3132	154	128	10	10	NUM
fsr-3132	154	129	28.66	28.66	NUM
fsr-3132	154	130	*	*	PUNCT
fsr-3132	154	131	*	*	SYM
fsr-3132	154	132	2	2	NUM
fsr-3132	154	133	to	to	ADP
fsr-3132	154	134	4	4	NUM
fsr-3132	154	135	3.051	3.051	NUM
fsr-3132	154	136	40	40	NUM
fsr-3132	154	137	%	%	NOUN
fsr-3132	154	138	�	�	NOUN
fsr-3132	154	139	6.8	6.8	NUM
fsr-3132	154	140	%	%	NOUN
fsr-3132	154	141	�	�	NOUN
fsr-3132	154	142	4.9	4.9	NUM
fsr-3132	154	143	%	%	NOUN
fsr-3132	154	144	�	�	NOUN
fsr-3132	154	145	3.6	3.6	NUM
fsr-3132	154	146	%	%	NOUN
fsr-3132	154	147	�	�	NOUN
fsr-3132	154	148	2.8	2.8	NUM
fsr-3132	154	149	%	%	NOUN
fsr-3132	154	150	�	�	NOUN
fsr-3132	154	151	2.9	2.9	NUM
fsr-3132	154	152	%	%	NOUN
fsr-3132	154	153	�	�	NOUN
fsr-3132	154	154	1.8	1.8	NUM
fsr-3132	154	155	%	%	NOUN
fsr-3132	154	156	�	�	PROPN
fsr-3132	154	157	1.4	1.4	NUM
fsr-3132	154	158	%	%	NOUN
fsr-3132	154	159	0.3	0.3	NUM
fsr-3132	154	160	%	%	NOUN
fsr-3132	154	161	50	50	NUM
fsr-3132	154	162	to	to	PART
fsr-3132	154	163	30	30	NUM
fsr-3132	154	164	5.25	5.25	NUM
fsr-3132	154	165	*	*	PUNCT
fsr-3132	154	166	*	*	PROPN
fsr-3132	154	167	2	2	NUM
fsr-3132	154	168	to	to	ADP
fsr-3132	154	169	6	6	NUM
fsr-3132	154	170	2.903	2.903	NUM
fsr-3132	154	171	35	35	NUM
fsr-3132	154	172	%	%	NOUN
fsr-3132	154	173	�	�	NOUN
fsr-3132	154	174	13.3	13.3	NUM
fsr-3132	154	175	%	%	NOUN
fsr-3132	154	176	�	�	NOUN
fsr-3132	154	177	9.7	9.7	NUM
fsr-3132	154	178	%	%	NOUN
fsr-3132	154	179	�	�	PROPN
fsr-3132	154	180	6.9	6.9	NUM
fsr-3132	154	181	%	%	NOUN
fsr-3132	154	182	�	�	NOUN
fsr-3132	154	183	5.0	5.0	NUM
fsr-3132	154	184	%	%	NOUN
fsr-3132	154	185	�	�	NOUN
fsr-3132	154	186	6.6	6.6	NUM
fsr-3132	154	187	%	%	NOUN
fsr-3132	154	188	�	�	NOUN
fsr-3132	154	189	4.2	4.2	NUM
fsr-3132	154	190	%	%	NOUN
fsr-3132	154	191	�	�	NOUN
fsr-3132	154	192	2.7	2.7	NUM
fsr-3132	154	193	%	%	NOUN
fsr-3132	154	194	0.6	0.6	NUM
fsr-3132	154	195	%	%	NOUN
fsr-3132	154	196	45	45	NUM
fsr-3132	154	197	to	to	PART
fsr-3132	154	198	20	20	NUM
fsr-3132	154	199	3.89	3.89	NUM
fsr-3132	154	200	*	*	PUNCT
fsr-3132	154	201	*	*	PROPN
fsr-3132	154	202	panel	panel	NOUN
fsr-3132	154	203	b	b	NOUN
fsr-3132	154	204	:	:	PUNCT
fsr-3132	154	205	30	30	NUM
fsr-3132	154	206	year	year	NOUN
fsr-3132	154	207	investment	investment	NOUN
fsr-3132	154	208	horizon	horizon	NOUN
fsr-3132	154	209	80	80	NUM
fsr-3132	154	210	%	%	NOUN
fsr-3132	154	211	80	80	NUM
fsr-3132	154	212	%	%	NOUN
fsr-3132	154	213	75	75	NUM
fsr-3132	154	214	%	%	NOUN
fsr-3132	154	215	70	70	NUM
fsr-3132	154	216	%	%	NOUN
fsr-3132	154	217	70	70	NUM
fsr-3132	154	218	%	%	NOUN
fsr-3132	154	219	70	70	NUM
fsr-3132	154	220	%	%	NOUN
fsr-3132	154	221	65	65	NUM
fsr-3132	154	222	%	%	NOUN
fsr-3132	154	223	0	0	NUM
fsr-3132	154	224	to	to	ADP
fsr-3132	154	225	4	4	NUM
fsr-3132	154	226	2.575	2.575	NUM
fsr-3132	154	227	55	55	NUM
fsr-3132	154	228	%	%	NOUN
fsr-3132	154	229	2.2	2.2	NUM
fsr-3132	154	230	%	%	NOUN
fsr-3132	154	231	2.9	2.9	NUM
fsr-3132	154	232	%	%	NOUN
fsr-3132	154	233	2.6	2.6	NUM
fsr-3132	154	234	%	%	NOUN
fsr-3132	154	235	1.7	1.7	NUM
fsr-3132	154	236	%	%	NOUN
fsr-3132	154	237	2.1	2.1	NUM
fsr-3132	154	238	%	%	NOUN
fsr-3132	154	239	2.1	2.1	NUM
fsr-3132	154	240	%	%	NOUN
fsr-3132	154	241	1.1	1.1	NUM
fsr-3132	154	242	%	%	NOUN
fsr-3132	154	243	4.5	4.5	NUM
fsr-3132	154	244	%	%	NOUN
fsr-3132	154	245	100	100	NUM
fsr-3132	154	246	to	to	PART
fsr-3132	154	247	25	25	NUM
fsr-3132	154	248	84.55	84.55	NUM
fsr-3132	154	249	*	*	PUNCT
fsr-3132	154	250	*	*	NOUN
fsr-3132	154	251	0	0	NUM
fsr-3132	154	252	to	to	ADP
fsr-3132	154	253	6	6	NUM
fsr-3132	154	254	2.411	2.411	NUM
fsr-3132	154	255	40	40	NUM
fsr-3132	154	256	%	%	NOUN
fsr-3132	154	257	�	�	NOUN
fsr-3132	154	258	0.6	0.6	NUM
fsr-3132	154	259	%	%	NOUN
fsr-3132	154	260	1.6	1.6	NUM
fsr-3132	154	261	%	%	NOUN
fsr-3132	154	262	2.9	2.9	NUM
fsr-3132	154	263	%	%	NOUN
fsr-3132	154	264	3.2	3.2	NUM
fsr-3132	154	265	%	%	NOUN
fsr-3132	154	266	1.6	1.6	NUM
fsr-3132	154	267	%	%	NOUN
fsr-3132	154	268	2.8	2.8	NUM
fsr-3132	154	269	%	%	NOUN
fsr-3132	154	270	2.9	2.9	NUM
fsr-3132	154	271	%	%	NOUN
fsr-3132	154	272	4.3	4.3	NUM
fsr-3132	154	273	%	%	NOUN
fsr-3132	154	274	100	100	NUM
fsr-3132	154	275	to	to	PART
fsr-3132	154	276	10	10	NUM
fsr-3132	154	277	29.72	29.72	NUM
fsr-3132	154	278	*	*	PUNCT
fsr-3132	154	279	*	*	PROPN
fsr-3132	154	280	2	2	NUM
fsr-3132	154	281	to	to	ADP
fsr-3132	154	282	4	4	NUM
fsr-3132	154	283	2.397	2.397	NUM
fsr-3132	154	284	40	40	NUM
fsr-3132	154	285	%	%	NOUN
fsr-3132	154	286	�	�	NOUN
fsr-3132	154	287	4.5	4.5	NUM
fsr-3132	154	288	%	%	NOUN
fsr-3132	154	289	�	�	NOUN
fsr-3132	154	290	2.9	2.9	NUM
fsr-3132	154	291	%	%	NOUN
fsr-3132	154	292	�	�	NOUN
fsr-3132	154	293	1.1	1.1	NUM
fsr-3132	154	294	%	%	NOUN
fsr-3132	154	295	�	�	NOUN
fsr-3132	154	296	0.4	0.4	NUM
fsr-3132	154	297	%	%	NOUN
fsr-3132	154	298	�	�	PROPN
fsr-3132	154	299	1.4	1.4	NUM
fsr-3132	154	300	%	%	NOUN
fsr-3132	154	301	�	�	NOUN
fsr-3132	154	302	0.6	0.6	NUM
fsr-3132	154	303	%	%	NOUN
fsr-3132	154	304	�	�	NOUN
fsr-3132	154	305	0.1	0.1	NUM
fsr-3132	154	306	%	%	NOUN
fsr-3132	154	307	0.3	0.3	NUM
fsr-3132	154	308	%	%	NOUN
fsr-3132	154	309	50	50	NUM
fsr-3132	154	310	to	to	PART
fsr-3132	154	311	30	30	NUM
fsr-3132	154	312	3.54	3.54	NUM
fsr-3132	154	313	*	*	PUNCT
fsr-3132	154	314	*	*	PROPN
fsr-3132	154	315	2	2	NUM
fsr-3132	154	316	to	to	ADP
fsr-3132	154	317	6	6	NUM
fsr-3132	154	318	2.279	2.279	NUM
fsr-3132	154	319	35	35	NUM
fsr-3132	154	320	%	%	NOUN
fsr-3132	154	321	�	�	NOUN
fsr-3132	154	322	9.9	9.9	NUM
fsr-3132	154	323	%	%	NOUN
fsr-3132	154	324	�	�	NOUN
fsr-3132	154	325	6.6	6.6	NUM
fsr-3132	154	326	%	%	NOUN
fsr-3132	154	327	�	�	NOUN
fsr-3132	154	328	3.0	3.0	NUM
fsr-3132	154	329	%	%	NOUN
fsr-3132	154	330	�	�	NOUN
fsr-3132	154	331	0.9	0.9	NUM
fsr-3132	154	332	%	%	NOUN
fsr-3132	154	333	�	�	NOUN
fsr-3132	154	334	4.2	4.2	NUM
fsr-3132	154	335	%	%	NOUN
fsr-3132	154	336	�	�	NOUN
fsr-3132	154	337	2.1	2.1	NUM
fsr-3132	154	338	%	%	NOUN
fsr-3132	154	339	�	�	NOUN
fsr-3132	154	340	0.3	0.3	NUM
fsr-3132	154	341	%	%	NOUN
fsr-3132	154	342	0.6	0.6	NUM
fsr-3132	154	343	%	%	NOUN
fsr-3132	154	344	45	45	NUM
fsr-3132	154	345	to	to	PART
fsr-3132	154	346	20	20	NUM
fsr-3132	154	347	5.31	5.31	NUM
fsr-3132	154	348	*	*	PUNCT
fsr-3132	154	349	*	*	PROPN
fsr-3132	154	350	panel	panel	NOUN
fsr-3132	154	351	c	c	NOUN
fsr-3132	154	352	:	:	PUNCT
fsr-3132	154	353	20	20	NUM
fsr-3132	154	354	year	year	NOUN
fsr-3132	154	355	investment	investment	NOUN
fsr-3132	154	356	horizon	horizon	NOUN
fsr-3132	154	357	70	70	NUM
fsr-3132	154	358	%	%	NOUN
fsr-3132	154	359	65	65	NUM
fsr-3132	154	360	%	%	NOUN
fsr-3132	154	361	60	60	NUM
fsr-3132	154	362	%	%	NOUN
fsr-3132	154	363	55	55	NUM
fsr-3132	154	364	%	%	NOUN
fsr-3132	154	365	60	60	NUM
fsr-3132	154	366	%	%	NOUN
fsr-3132	154	367	60	60	NUM
fsr-3132	154	368	%	%	NOUN
fsr-3132	154	369	50	50	NUM
fsr-3132	154	370	%	%	NOUN
fsr-3132	154	371	0	0	NUM
fsr-3132	154	372	to	to	ADP
fsr-3132	154	373	4	4	NUM
fsr-3132	154	374	1.796	1.796	NUM
fsr-3132	154	375	55	55	NUM
fsr-3132	154	376	%	%	NOUN
fsr-3132	154	377	1.6	1.6	NUM
fsr-3132	154	378	%	%	NOUN
fsr-3132	154	379	1.7	1.7	NUM
fsr-3132	154	380	%	%	NOUN
fsr-3132	154	381	1.1	1.1	NUM
fsr-3132	154	382	%	%	NOUN
fsr-3132	154	383	�	�	NOUN
fsr-3132	154	384	0.2	0.2	NUM
fsr-3132	154	385	%	%	NOUN
fsr-3132	154	386	1.2	1.2	NUM
fsr-3132	154	387	%	%	NOUN
fsr-3132	154	388	1.1	1.1	NUM
fsr-3132	154	389	%	%	NOUN
fsr-3132	154	390	�	�	NOUN
fsr-3132	154	391	0.9	0.9	NUM
fsr-3132	154	392	%	%	NOUN
fsr-3132	154	393	4.6	4.6	NUM
fsr-3132	154	394	%	%	NOUN
fsr-3132	154	395	100	100	NUM
fsr-3132	154	396	to	to	PART
fsr-3132	154	397	25	25	NUM
fsr-3132	154	398	31.46	31.46	NUM
fsr-3132	154	399	*	*	PUNCT
fsr-3132	154	400	*	*	NOUN
fsr-3132	154	401	0	0	NUM
fsr-3132	154	402	to	to	ADP
fsr-3132	154	403	6	6	NUM
fsr-3132	154	404	1.682	1.682	NUM
fsr-3132	154	405	40	40	NUM
fsr-3132	154	406	%	%	NOUN
fsr-3132	154	407	�	�	NOUN
fsr-3132	154	408	0.5	0.5	NUM
fsr-3132	154	409	%	%	NOUN
fsr-3132	154	410	1.5	1.5	NUM
fsr-3132	154	411	%	%	NOUN
fsr-3132	154	412	2.3	2.3	NUM
fsr-3132	154	413	%	%	NOUN
fsr-3132	154	414	2.0	2.0	NUM
fsr-3132	154	415	%	%	NOUN
fsr-3132	154	416	1.3	1.3	NUM
fsr-3132	154	417	%	%	NOUN
fsr-3132	154	418	2.3	2.3	NUM
fsr-3132	154	419	%	%	NOUN
fsr-3132	154	420	1.4	1.4	NUM
fsr-3132	154	421	%	%	NOUN
fsr-3132	154	422	4.4	4.4	NUM
fsr-3132	154	423	%	%	NOUN
fsr-3132	154	424	100	100	NUM
fsr-3132	154	425	to	to	PART
fsr-3132	154	426	10	10	NUM
fsr-3132	154	427	17.48	17.48	NUM
fsr-3132	154	428	*	*	PUNCT
fsr-3132	154	429	*	*	SYM
fsr-3132	154	430	2	2	NUM
fsr-3132	154	431	to	to	ADP
fsr-3132	154	432	4	4	NUM
fsr-3132	154	433	1.675	1.675	NUM
fsr-3132	154	434	40	40	NUM
fsr-3132	154	435	%	%	NOUN
fsr-3132	154	436	�	�	NOUN
fsr-3132	154	437	2.8	2.8	NUM
fsr-3132	154	438	%	%	NOUN
fsr-3132	154	439	�	�	NOUN
fsr-3132	154	440	0.8	0.8	NUM
fsr-3132	154	441	%	%	NOUN
fsr-3132	154	442	0.1	0.1	NUM
fsr-3132	154	443	%	%	NOUN
fsr-3132	154	444	0.0	0.0	NUM
fsr-3132	154	445	%	%	NOUN
fsr-3132	154	446	�	�	NOUN
fsr-3132	154	447	0.4	0.4	NUM
fsr-3132	154	448	%	%	NOUN
fsr-3132	154	449	0.1	0.1	NUM
fsr-3132	154	450	%	%	NOUN
fsr-3132	154	451	0.0	0.0	NUM
fsr-3132	154	452	%	%	NOUN
fsr-3132	154	453	0.3	0.3	NUM
fsr-3132	154	454	%	%	NOUN
fsr-3132	154	455	50	50	NUM
fsr-3132	154	456	to	to	PART
fsr-3132	154	457	30	30	NUM
fsr-3132	154	458	6.94	6.94	NUM
fsr-3132	154	459	*	*	NOUN
fsr-3132	154	460	*	*	PROPN
fsr-3132	154	461	2	2	NUM
fsr-3132	154	462	to	to	ADP
fsr-3132	154	463	6	6	NUM
fsr-3132	154	464	1.591	1.591	NUM
fsr-3132	154	465	35	35	NUM
fsr-3132	154	466	%	%	NOUN
fsr-3132	154	467	�	�	NOUN
fsr-3132	154	468	7.1	7.1	NUM
fsr-3132	154	469	%	%	NOUN
fsr-3132	154	470	�	�	NOUN
fsr-3132	154	471	3.1	3.1	NUM
fsr-3132	154	472	%	%	NOUN
fsr-3132	154	473	�	�	NOUN
fsr-3132	154	474	0.6	0.6	NUM
fsr-3132	154	475	%	%	NOUN
fsr-3132	154	476	0.5	0.5	NUM
fsr-3132	154	477	%	%	NOUN
fsr-3132	154	478	�	�	NOUN
fsr-3132	154	479	2.3	2.3	NUM
fsr-3132	154	480	%	%	NOUN
fsr-3132	154	481	�	�	NOUN
fsr-3132	154	482	0.6	0.6	NUM
fsr-3132	154	483	%	%	NOUN
fsr-3132	154	484	0.6	0.6	NUM
fsr-3132	154	485	%	%	NOUN
fsr-3132	154	486	0.6	0.6	NUM
fsr-3132	154	487	%	%	NOUN
fsr-3132	154	488	50	50	NUM
fsr-3132	154	489	to	to	PART
fsr-3132	154	490	20	20	NUM
fsr-3132	154	491	8.98	8.98	NUM
fsr-3132	154	492	*	*	PUNCT
fsr-3132	154	493	*	*	PUNCT
fsr-3132	154	494	panel	panel	NOUN
fsr-3132	154	495	d	d	NOUN
fsr-3132	154	496	:	:	PUNCT
fsr-3132	154	497	10	10	NUM
fsr-3132	154	498	year	year	NOUN
fsr-3132	154	499	investment	investment	NOUN
fsr-3132	154	500	horizon	horizon	NOUN
fsr-3132	154	501	60	60	NUM
fsr-3132	154	502	%	%	NOUN
fsr-3132	154	503	55	55	NUM
fsr-3132	154	504	%	%	NOUN
fsr-3132	154	505	45	45	NUM
fsr-3132	154	506	%	%	NOUN
fsr-3132	154	507	40	40	NUM
fsr-3132	154	508	%	%	NOUN
fsr-3132	154	509	50	50	NUM
fsr-3132	154	510	%	%	NOUN
fsr-3132	154	511	50	50	NUM
fsr-3132	154	512	%	%	NOUN
fsr-3132	154	513	35	35	NUM
fsr-3132	154	514	%	%	NOUN
fsr-3132	154	515	0	0	NUM
fsr-3132	154	516	to	to	ADP
fsr-3132	154	517	4	4	NUM
fsr-3132	154	518	0.941	0.941	NUM
fsr-3132	154	519	55	55	NUM
fsr-3132	154	520	%	%	NOUN
fsr-3132	154	521	0.9	0.9	NUM
fsr-3132	154	522	%	%	NOUN
fsr-3132	154	523	0.7	0.7	NUM
fsr-3132	154	524	%	%	NOUN
fsr-3132	154	525	0.2	0.2	NUM
fsr-3132	154	526	%	%	NOUN
fsr-3132	154	527	�	�	NOUN
fsr-3132	154	528	2.4	2.4	NUM
fsr-3132	154	529	%	%	NOUN
fsr-3132	154	530	0.2	0.2	NUM
fsr-3132	154	531	%	%	NOUN
fsr-3132	154	532	0.0	0.0	NUM
fsr-3132	154	533	%	%	NOUN
fsr-3132	154	534	�	�	NOUN
fsr-3132	154	535	3.3	3.3	NUM
fsr-3132	154	536	%	%	NOUN
fsr-3132	154	537	5.0	5.0	NUM
fsr-3132	154	538	%	%	NOUN
fsr-3132	154	539	100	100	NUM
fsr-3132	154	540	to	to	PART
fsr-3132	154	541	25	25	NUM
fsr-3132	154	542	35.41	35.41	NUM
fsr-3132	154	543	*	*	PUNCT
fsr-3132	154	544	*	*	NOUN
fsr-3132	154	545	0	0	NUM
fsr-3132	154	546	to	to	ADP
fsr-3132	154	547	6	6	NUM
fsr-3132	154	548	0.881	0.881	NUM
fsr-3132	154	549	40	40	NUM
fsr-3132	154	550	%	%	NOUN
fsr-3132	154	551	�	�	NOUN
fsr-3132	154	552	0.5	0.5	NUM
fsr-3132	154	553	%	%	NOUN
fsr-3132	154	554	1.1	1.1	NUM
fsr-3132	154	555	%	%	NOUN
fsr-3132	154	556	1.1	1.1	NUM
fsr-3132	154	557	%	%	NOUN
fsr-3132	154	558	0.2	0.2	NUM
fsr-3132	154	559	%	%	NOUN
fsr-3132	154	560	0.8	0.8	NUM
fsr-3132	154	561	%	%	NOUN
fsr-3132	154	562	1.7	1.7	NUM
fsr-3132	154	563	%	%	NOUN
fsr-3132	154	564	�	�	NOUN
fsr-3132	154	565	0.6	0.6	NUM
fsr-3132	154	566	%	%	NOUN
fsr-3132	154	567	4.9	4.9	NUM
fsr-3132	154	568	%	%	NOUN
fsr-3132	154	569	100	100	NUM
fsr-3132	154	570	to	to	PART
fsr-3132	154	571	10	10	NUM
fsr-3132	154	572	49.28	49.28	NUM
fsr-3132	154	573	*	*	PUNCT
fsr-3132	154	574	*	*	PUNCT
fsr-3132	154	575	2	2	NUM
fsr-3132	154	576	to	to	ADP
fsr-3132	154	577	4	4	NUM
fsr-3132	154	578	0.879	0.879	NUM
fsr-3132	154	579	40	40	NUM
fsr-3132	154	580	%	%	NOUN
fsr-3132	154	581	�	�	NOUN
fsr-3132	154	582	1.6	1.6	NUM
fsr-3132	154	583	%	%	NOUN
fsr-3132	154	584	�	�	NOUN
fsr-3132	154	585	0.1	0.1	NUM
fsr-3132	154	586	%	%	NOUN
fsr-3132	154	587	0.3	0.3	NUM
fsr-3132	154	588	%	%	NOUN
fsr-3132	154	589	�	�	NOUN
fsr-3132	154	590	0.6	0.6	NUM
fsr-3132	154	591	%	%	NOUN
fsr-3132	154	592	0.0	0.0	NUM
fsr-3132	154	593	%	%	NOUN
fsr-3132	154	594	0.3	0.3	NUM
fsr-3132	154	595	%	%	NOUN
fsr-3132	154	596	�	�	NOUN
fsr-3132	154	597	1.0	1.0	NUM
fsr-3132	154	598	%	%	NOUN
fsr-3132	154	599	0.3	0.3	NUM
fsr-3132	154	600	%	%	NOUN
fsr-3132	154	601	50	50	NUM
fsr-3132	154	602	to	to	PART
fsr-3132	154	603	30	30	NUM
fsr-3132	154	604	5.10	5.10	NUM
fsr-3132	154	605	*	*	PUNCT
fsr-3132	154	606	*	*	SYM
fsr-3132	154	607	2	2	NUM
fsr-3132	154	608	to	to	ADP
fsr-3132	154	609	6	6	NUM
fsr-3132	154	610	0.835	0.835	NUM
fsr-3132	154	611	30	30	NUM
fsr-3132	154	612	%	%	NOUN
fsr-3132	154	613	�	�	NOUN
fsr-3132	154	614	5.1	5.1	NUM
fsr-3132	154	615	%	%	NOUN
fsr-3132	154	616	�	�	NOUN
fsr-3132	154	617	1.7	1.7	NUM
fsr-3132	154	618	%	%	NOUN
fsr-3132	154	619	0.4	0.4	NUM
fsr-3132	154	620	%	%	NOUN
fsr-3132	154	621	0.5	0.5	NUM
fsr-3132	154	622	%	%	NOUN
fsr-3132	154	623	�	�	NOUN
fsr-3132	154	624	1.2	1.2	NUM
fsr-3132	154	625	%	%	NOUN
fsr-3132	154	626	0.2	0.2	NUM
fsr-3132	154	627	%	%	NOUN
fsr-3132	154	628	0.1	0.1	NUM
fsr-3132	154	629	%	%	NOUN
fsr-3132	154	630	0.6	0.6	NUM
fsr-3132	154	631	%	%	NOUN
fsr-3132	154	632	45	45	NUM
fsr-3132	154	633	to	to	PART
fsr-3132	154	634	25	25	NUM
fsr-3132	154	635	8.42	8.42	NUM
fsr-3132	154	636	*	*	NOUN
fsr-3132	154	637	*	*	NOUN
fsr-3132	154	638	notes	note	NOUN
fsr-3132	154	639	.	.	PUNCT
fsr-3132	155	1	the	the	DET
fsr-3132	155	2	table	table	NOUN
fsr-3132	155	3	reports	report	VERB
fsr-3132	155	4	the	the	DET
fsr-3132	155	5	best	good	ADJ
fsr-3132	155	6	lifestyle	lifestyle	NOUN
fsr-3132	155	7	strategy	strategy	NOUN
fsr-3132	155	8	as	as	ADP
fsr-3132	155	9	a	a	DET
fsr-3132	155	10	benchmark	benchmark	NOUN
fsr-3132	155	11	for	for	ADP
fsr-3132	155	12	the	the	DET
fsr-3132	155	13	expected	expect	VERB
fsr-3132	155	14	utility	utility	NOUN
fsr-3132	155	15	(	(	PUNCT
fsr-3132	155	16	e(u	e(u	PROPN
fsr-3132	155	17	)	)	PUNCT
fsr-3132	155	18	)	)	PUNCT
fsr-3132	155	19	of	of	ADP
fsr-3132	155	20	the	the	DET
fsr-3132	155	21	lifecycle	lifecycle	NOUN
fsr-3132	155	22	strategies	strategy	NOUN
fsr-3132	155	23	.	.	PUNCT
fsr-3132	156	1	the	the	DET
fsr-3132	156	2	results	result	NOUN
fsr-3132	156	3	for	for	ADP
fsr-3132	156	4	the	the	DET
fsr-3132	156	5	lifecycle	lifecycle	NOUN
fsr-3132	156	6	strategies	strategy	NOUN
fsr-3132	156	7	are	be	AUX
fsr-3132	156	8	reported	report	VERB
fsr-3132	156	9	as	as	ADP
fsr-3132	156	10	a	a	DET
fsr-3132	156	11	percentage	percentage	NOUN
fsr-3132	156	12	difference	difference	NOUN
fsr-3132	156	13	from	from	ADP
fsr-3132	156	14	that	that	DET
fsr-3132	156	15	benchmark	benchmark	NOUN
fsr-3132	156	16	.	.	PUNCT
fsr-3132	157	1	the	the	DET
fsr-3132	157	2	last	last	ADJ
fsr-3132	157	3	three	three	NUM
fsr-3132	157	4	columns	column	NOUN
fsr-3132	157	5	compare	compare	VERB
fsr-3132	157	6	the	the	DET
fsr-3132	157	7	best	good	ADJ
fsr-3132	157	8	lifecycle	lifecycle	NOUN
fsr-3132	157	9	strategy	strategy	NOUN
fsr-3132	157	10	with	with	ADP
fsr-3132	157	11	the	the	DET
fsr-3132	157	12	best	good	ADJ
fsr-3132	157	13	lifestyle	lifestyle	NOUN
fsr-3132	157	14	strategy	strategy	NOUN
fsr-3132	157	15	by	by	ADP
fsr-3132	157	16	reporting	report	VERB
fsr-3132	157	17	the	the	DET
fsr-3132	157	18	percentage	percentage	NOUN
fsr-3132	157	19	difference	difference	NOUN
fsr-3132	157	20	,	,	PUNCT
fsr-3132	157	21	the	the	DET
fsr-3132	157	22	original	original	ADJ
fsr-3132	157	23	40	40	NUM
fsr-3132	157	24	year	year	NOUN
fsr-3132	157	25	glide	glide	NOUN
fsr-3132	157	26	path	path	NOUN
fsr-3132	157	27	(	(	PUNCT
fsr-3132	157	28	beginning	begin	VERB
fsr-3132	157	29	and	and	CCONJ
fsr-3132	157	30	ending	end	VERB
fsr-3132	157	31	level	level	NOUN
fsr-3132	157	32	of	of	ADP
fsr-3132	157	33	equity	equity	NOUN
fsr-3132	157	34	)	)	PUNCT
fsr-3132	157	35	,	,	PUNCT
fsr-3132	157	36	and	and	CCONJ
fsr-3132	157	37	the	the	DET
fsr-3132	157	38	t	t	PROPN
fsr-3132	157	39	-	-	PUNCT
fsr-3132	157	40	statistics	statistic	NOUN
fsr-3132	157	41	.	.	PUNCT
fsr-3132	158	1	*	*	PUNCT
fsr-3132	158	2	*	*	PUNCT
fsr-3132	158	3	denotes	denote	NOUN
fsr-3132	158	4	significance	significance	NOUN
fsr-3132	158	5	at	at	ADP
fsr-3132	158	6	the	the	DET
fsr-3132	158	7	1	1	NUM
fsr-3132	158	8	%	%	NOUN
fsr-3132	158	9	level	level	NOUN
fsr-3132	158	10	.	.	PUNCT
fsr-3132	159	1	results	result	NOUN
fsr-3132	159	2	for	for	ADP
fsr-3132	159	3	each	each	DET
fsr-3132	159	4	accumulation	accumulation	NOUN
fsr-3132	159	5	period	period	NOUN
fsr-3132	159	6	are	be	AUX
fsr-3132	159	7	reported	report	VERB
fsr-3132	159	8	in	in	ADP
fsr-3132	159	9	separate	separate	ADJ
fsr-3132	159	10	panels	panel	NOUN
fsr-3132	159	11	.	.	PUNCT
fsr-3132	160	1	first	first	ADJ
fsr-3132	160	2	row	row	NOUN
fsr-3132	160	3	of	of	ADP
fsr-3132	160	4	panels	panel	NOUN
fsr-3132	160	5	b	b	NOUN
fsr-3132	160	6	through	through	ADP
fsr-3132	160	7	d	d	PART
fsr-3132	160	8	give	give	VERB
fsr-3132	160	9	the	the	DET
fsr-3132	160	10	approximate	approximate	ADJ
fsr-3132	160	11	level	level	NOUN
fsr-3132	160	12	of	of	ADP
fsr-3132	160	13	equity	equity	NOUN
fsr-3132	160	14	for	for	ADP
fsr-3132	160	15	each	each	DET
fsr-3132	160	16	lifecycle	lifecycle	NOUN
fsr-3132	160	17	strategy	strategy	NOUN
fsr-3132	160	18	at	at	ADP
fsr-3132	160	19	the	the	DET
fsr-3132	160	20	beginning	beginning	NOUN
fsr-3132	160	21	of	of	ADP
fsr-3132	160	22	accumulation	accumulation	NOUN
fsr-3132	160	23	period	period	NOUN
fsr-3132	160	24	(	(	PUNCT
fsr-3132	160	25	e.g.	e.g.	ADV
fsr-3132	160	26	,	,	PUNCT
fsr-3132	160	27	30	30	NUM
fsr-3132	160	28	years	year	NOUN
fsr-3132	160	29	before	before	ADP
fsr-3132	160	30	target	target	NOUN
fsr-3132	160	31	date	date	NOUN
fsr-3132	160	32	)	)	PUNCT
fsr-3132	160	33	.	.	PUNCT
fsr-3132	161	1	177r.p	177r.p	PROPN
fsr-3132	161	2	.	.	PUNCT
fsr-3132	162	1	chang	chang	PROPN
fsr-3132	162	2	et	et	PROPN
fsr-3132	162	3	al	al	PROPN
fsr-3132	162	4	.	.	PUNCT
fsr-3132	162	5	/	/	SYM
fsr-3132	162	6	financial	financial	ADJ
fsr-3132	162	7	services	service	NOUN
fsr-3132	162	8	review	review	VERB
fsr-3132	162	9	23	23	NUM
fsr-3132	162	10	(	(	PUNCT
fsr-3132	162	11	2014	2014	NUM
fsr-3132	162	12	)	)	PUNCT
fsr-3132	162	13	169–188	169–188	NUM
fsr-3132	162	14	the	the	DET
fsr-3132	162	15	more	more	ADV
fsr-3132	162	16	common	common	ADJ
fsr-3132	162	17	lifecycle	lifecycle	NOUN
fsr-3132	162	18	strategies	strategy	NOUN
fsr-3132	162	19	included	include	VERB
fsr-3132	162	20	in	in	ADP
fsr-3132	162	21	our	our	PRON
fsr-3132	162	22	investigation	investigation	NOUN
fsr-3132	162	23	yield	yield	VERB
fsr-3132	162	24	higher	high	ADJ
fsr-3132	162	25	expected	expect	VERB
fsr-3132	162	26	utility	utility	NOUN
fsr-3132	162	27	during	during	ADP
fsr-3132	162	28	accumulation	accumulation	NOUN
fsr-3132	162	29	period	period	NOUN
fsr-3132	162	30	than	than	ADP
fsr-3132	162	31	the	the	DET
fsr-3132	162	32	best	good	ADJ
fsr-3132	162	33	lifestyle	lifestyle	NOUN
fsr-3132	162	34	strategy	strategy	NOUN
fsr-3132	162	35	.	.	PUNCT
fsr-3132	163	1	the	the	DET
fsr-3132	163	2	highest	high	ADJ
fsr-3132	163	3	utility	utility	NOUN
fsr-3132	163	4	would	would	AUX
fsr-3132	163	5	be	be	AUX
fsr-3132	163	6	reached	reach	VERB
fsr-3132	163	7	with	with	ADP
fsr-3132	163	8	a	a	DET
fsr-3132	163	9	theoretical	theoretical	ADJ
fsr-3132	163	10	lifecycle	lifecycle	NOUN
fsr-3132	163	11	portfolio	portfolio	NOUN
fsr-3132	163	12	that	that	PRON
fsr-3132	163	13	starts	start	VERB
fsr-3132	163	14	out	out	ADP
fsr-3132	163	15	at	at	ADP
fsr-3132	163	16	100	100	NUM
fsr-3132	163	17	%	%	NOUN
fsr-3132	163	18	but	but	CCONJ
fsr-3132	163	19	then	then	ADV
fsr-3132	163	20	smoothly	smoothly	ADV
fsr-3132	163	21	decreases	decrease	VERB
fsr-3132	163	22	the	the	DET
fsr-3132	163	23	equity	equity	NOUN
fsr-3132	163	24	allocation	allocation	NOUN
fsr-3132	163	25	to	to	ADP
fsr-3132	163	26	25	25	NUM
fsr-3132	163	27	%	%	NOUN
fsr-3132	163	28	by	by	ADP
fsr-3132	163	29	the	the	DET
fsr-3132	163	30	target	target	NOUN
fsr-3132	163	31	date	date	NOUN
fsr-3132	163	32	.	.	PUNCT
fsr-3132	164	1	such	such	DET
fsr-3132	164	2	a	a	DET
fsr-3132	164	3	strategy	strategy	NOUN
fsr-3132	164	4	would	would	AUX
fsr-3132	164	5	yield	yield	VERB
fsr-3132	164	6	to	to	ADP
fsr-3132	164	7	our	our	PRON
fsr-3132	164	8	representative	representative	ADJ
fsr-3132	164	9	investor	investor	NOUN
fsr-3132	164	10	4.5	4.5	NUM
fsr-3132	164	11	%	%	NOUN
fsr-3132	164	12	higher	high	ADJ
fsr-3132	164	13	utility	utility	NOUN
fsr-3132	164	14	and	and	CCONJ
fsr-3132	164	15	it	it	PRON
fsr-3132	164	16	is	be	AUX
fsr-3132	164	17	significantly	significantly	ADV
fsr-3132	164	18	higher	high	ADJ
fsr-3132	164	19	than	than	ADP
fsr-3132	164	20	the	the	DET
fsr-3132	164	21	55	55	NUM
fsr-3132	164	22	%	%	NOUN
fsr-3132	164	23	lifestyle	lifestyle	NOUN
fsr-3132	164	24	strategy	strategy	NOUN
fsr-3132	164	25	at	at	ADP
fsr-3132	164	26	the	the	DET
fsr-3132	164	27	1	1	NUM
fsr-3132	164	28	%	%	NOUN
fsr-3132	164	29	level	level	NOUN
fsr-3132	164	30	.	.	PUNCT
fsr-3132	165	1	among	among	ADP
fsr-3132	165	2	the	the	DET
fsr-3132	165	3	more	more	ADV
fsr-3132	165	4	common	common	ADJ
fsr-3132	165	5	tdf	tdf	NOUN
fsr-3132	165	6	strategies	strategy	NOUN
fsr-3132	165	7	her	her	PRON
fsr-3132	165	8	best	good	ADJ
fsr-3132	165	9	choice	choice	NOUN
fsr-3132	165	10	would	would	AUX
fsr-3132	165	11	be	be	AUX
fsr-3132	165	12	to	to	PART
fsr-3132	165	13	start	start	VERB
fsr-3132	165	14	investing	invest	VERB
fsr-3132	165	15	to	to	ADP
fsr-3132	165	16	the	the	DET
fsr-3132	165	17	tdf	tdf	NOUN
fsr-3132	165	18	with	with	ADP
fsr-3132	165	19	the	the	DET
fsr-3132	165	20	glide	glide	ADJ
fsr-3132	165	21	path	path	NOUN
fsr-3132	165	22	from	from	ADP
fsr-3132	165	23	90	90	NUM
fsr-3132	165	24	%	%	NOUN
fsr-3132	165	25	to	to	PART
fsr-3132	165	26	30	30	NUM
fsr-3132	165	27	%	%	NOUN
fsr-3132	165	28	equity	equity	NOUN
fsr-3132	165	29	,	,	PUNCT
fsr-3132	165	30	which	which	PRON
fsr-3132	165	31	generates	generate	VERB
fsr-3132	165	32	a	a	DET
fsr-3132	165	33	3.8	3.8	NUM
fsr-3132	165	34	%	%	NOUN
fsr-3132	165	35	higher	high	ADJ
fsr-3132	165	36	utility	utility	NOUN
fsr-3132	165	37	than	than	ADP
fsr-3132	165	38	that	that	PRON
fsr-3132	165	39	of	of	ADP
fsr-3132	165	40	the	the	DET
fsr-3132	165	41	best	good	ADJ
fsr-3132	165	42	lifestyle	lifestyle	NOUN
fsr-3132	165	43	strategy	strategy	NOUN
fsr-3132	165	44	.	.	PUNCT
fsr-3132	166	1	if	if	SCONJ
fsr-3132	166	2	the	the	DET
fsr-3132	166	3	young	young	ADJ
fsr-3132	166	4	investor	investor	NOUN
fsr-3132	166	5	becomes	become	VERB
fsr-3132	166	6	more	more	ADJ
fsr-3132	166	7	risk	risk	NOUN
fsr-3132	166	8	averse	averse	ADJ
fsr-3132	166	9	as	as	SCONJ
fsr-3132	166	10	she	she	PRON
fsr-3132	166	11	gets	get	VERB
fsr-3132	166	12	older	old	ADJ
fsr-3132	166	13	,	,	PUNCT
fsr-3132	166	14	reaching	reach	VERB
fsr-3132	166	15	the	the	DET
fsr-3132	166	16	risk	risk	NOUN
fsr-3132	166	17	aversion	aversion	NOUN
fsr-3132	166	18	of	of	ADP
fsr-3132	166	19	6	6	NUM
fsr-3132	166	20	at	at	ADP
fsr-3132	166	21	the	the	DET
fsr-3132	166	22	target	target	NOUN
fsr-3132	166	23	date	date	NOUN
fsr-3132	166	24	,	,	PUNCT
fsr-3132	166	25	the	the	DET
fsr-3132	166	26	best	good	ADJ
fsr-3132	166	27	lifestyle	lifestyle	NOUN
fsr-3132	166	28	strategy	strategy	NOUN
fsr-3132	166	29	is	be	AUX
fsr-3132	166	30	40	40	NUM
fsr-3132	166	31	%	%	NOUN
fsr-3132	166	32	equity	equity	NOUN
fsr-3132	166	33	portfolio	portfolio	NOUN
fsr-3132	166	34	;	;	PUNCT
fsr-3132	166	35	more	more	ADV
fsr-3132	166	36	conservative	conservative	ADJ
fsr-3132	166	37	than	than	ADP
fsr-3132	166	38	above	above	ADV
fsr-3132	166	39	.	.	PUNCT
fsr-3132	167	1	for	for	ADP
fsr-3132	167	2	this	this	DET
fsr-3132	167	3	investor	investor	NOUN
fsr-3132	167	4	all	all	PRON
fsr-3132	167	5	except	except	SCONJ
fsr-3132	167	6	the	the	DET
fsr-3132	167	7	90	90	NUM
fsr-3132	167	8	%	%	NOUN
fsr-3132	167	9	to	to	PART
fsr-3132	167	10	50	50	NUM
fsr-3132	167	11	%	%	NOUN
fsr-3132	167	12	lifecycle	lifecycle	NOUN
fsr-3132	167	13	strategy	strategy	NOUN
fsr-3132	167	14	outperform	outperform	VERB
fsr-3132	167	15	the	the	DET
fsr-3132	167	16	best	good	ADJ
fsr-3132	167	17	fixed	fix	VERB
fsr-3132	167	18	equity	equity	NOUN
fsr-3132	167	19	portfolio	portfolio	NOUN
fsr-3132	167	20	.	.	PUNCT
fsr-3132	168	1	among	among	ADP
fsr-3132	168	2	the	the	DET
fsr-3132	168	3	lifecycle	lifecycle	NOUN
fsr-3132	168	4	strategies	strategy	NOUN
fsr-3132	168	5	the	the	DET
fsr-3132	168	6	highest	high	ADJ
fsr-3132	168	7	expected	expect	VERB
fsr-3132	168	8	utility	utility	NOUN
fsr-3132	168	9	is	be	AUX
fsr-3132	168	10	reached	reach	VERB
fsr-3132	168	11	with	with	ADP
fsr-3132	168	12	the	the	DET
fsr-3132	168	13	theoretical	theoretical	ADJ
fsr-3132	168	14	glide	glide	NOUN
fsr-3132	168	15	path	path	NOUN
fsr-3132	168	16	from	from	ADP
fsr-3132	168	17	100	100	NUM
fsr-3132	168	18	%	%	NOUN
fsr-3132	168	19	equity	equity	NOUN
fsr-3132	168	20	to	to	ADP
fsr-3132	168	21	10	10	NUM
fsr-3132	168	22	%	%	NOUN
fsr-3132	168	23	,	,	PUNCT
fsr-3132	168	24	with	with	ADP
fsr-3132	168	25	utility	utility	NOUN
fsr-3132	168	26	4.4	4.4	NUM
fsr-3132	168	27	%	%	NOUN
fsr-3132	168	28	higher	high	ADJ
fsr-3132	168	29	and	and	CCONJ
fsr-3132	168	30	is	be	AUX
fsr-3132	168	31	also	also	ADV
fsr-3132	168	32	significantly	significantly	ADV
fsr-3132	168	33	higher	high	ADJ
fsr-3132	168	34	than	than	ADP
fsr-3132	168	35	that	that	PRON
fsr-3132	168	36	of	of	ADP
fsr-3132	168	37	the	the	DET
fsr-3132	168	38	best	good	ADJ
fsr-3132	168	39	lifestyle	lifestyle	NOUN
fsr-3132	168	40	strategy	strategy	NOUN
fsr-3132	168	41	at	at	ADP
fsr-3132	168	42	the	the	DET
fsr-3132	168	43	1	1	NUM
fsr-3132	168	44	%	%	NOUN
fsr-3132	168	45	level	level	NOUN
fsr-3132	168	46	.	.	PUNCT
fsr-3132	169	1	our	our	PRON
fsr-3132	169	2	results	result	NOUN
fsr-3132	169	3	show	show	VERB
fsr-3132	169	4	that	that	SCONJ
fsr-3132	169	5	for	for	ADP
fsr-3132	169	6	the	the	DET
fsr-3132	169	7	investor	investor	NOUN
fsr-3132	169	8	with	with	ADP
fsr-3132	169	9	higher	high	ADJ
fsr-3132	169	10	risk	risk	NOUN
fsr-3132	169	11	aversion	aversion	NOUN
fsr-3132	169	12	the	the	DET
fsr-3132	169	13	appeal	appeal	NOUN
fsr-3132	169	14	of	of	ADP
fsr-3132	169	15	more	more	ADJ
fsr-3132	169	16	common	common	ADJ
fsr-3132	169	17	lifecycle	lifecycle	NOUN
fsr-3132	169	18	strategies	strategy	NOUN
fsr-3132	169	19	starts	start	VERB
fsr-3132	169	20	to	to	PART
fsr-3132	169	21	diminish	diminish	VERB
fsr-3132	169	22	.	.	PUNCT
fsr-3132	170	1	in	in	ADP
fsr-3132	170	2	fact	fact	NOUN
fsr-3132	170	3	none	none	NOUN
fsr-3132	170	4	of	of	ADP
fsr-3132	170	5	the	the	DET
fsr-3132	170	6	more	more	ADV
fsr-3132	170	7	common	common	ADJ
fsr-3132	170	8	lifecycle	lifecycle	NOUN
fsr-3132	170	9	strategies	strategy	NOUN
fsr-3132	170	10	reported	report	VERB
fsr-3132	170	11	in	in	ADP
fsr-3132	170	12	table	table	NOUN
fsr-3132	170	13	3	3	NUM
fsr-3132	170	14	manage	manage	VERB
fsr-3132	170	15	to	to	PART
fsr-3132	170	16	outperform	outperform	VERB
fsr-3132	170	17	the	the	DET
fsr-3132	170	18	best	good	ADJ
fsr-3132	170	19	lifestyle	lifestyle	NOUN
fsr-3132	170	20	strategy	strategy	NOUN
fsr-3132	170	21	when	when	SCONJ
fsr-3132	170	22	the	the	DET
fsr-3132	170	23	investor	investor	NOUN
fsr-3132	170	24	’s	’s	AUX
fsr-3132	170	25	beginning	begin	VERB
fsr-3132	170	26	risk	risk	NOUN
fsr-3132	170	27	aversion	aversion	NOUN
fsr-3132	170	28	is	be	AUX
fsr-3132	170	29	as	as	ADV
fsr-3132	170	30	large	large	ADJ
fsr-3132	170	31	as	as	ADP
fsr-3132	170	32	2	2	NUM
fsr-3132	170	33	.	.	PUNCT
fsr-3132	171	1	however	however	ADV
fsr-3132	171	2	,	,	PUNCT
fsr-3132	171	3	it	it	PRON
fsr-3132	171	4	is	be	AUX
fsr-3132	171	5	still	still	ADV
fsr-3132	171	6	possible	possible	ADJ
fsr-3132	171	7	to	to	PART
fsr-3132	171	8	construct	construct	VERB
fsr-3132	171	9	a	a	DET
fsr-3132	171	10	lifecycle	lifecycle	NOUN
fsr-3132	171	11	strategy	strategy	NOUN
fsr-3132	171	12	that	that	PRON
fsr-3132	171	13	generates	generate	VERB
fsr-3132	171	14	higher	high	ADJ
fsr-3132	171	15	utility	utility	NOUN
fsr-3132	171	16	.	.	PUNCT
fsr-3132	172	1	for	for	ADP
fsr-3132	172	2	example	example	NOUN
fsr-3132	172	3	,	,	PUNCT
fsr-3132	172	4	for	for	ADP
fsr-3132	172	5	the	the	DET
fsr-3132	172	6	investor	investor	NOUN
fsr-3132	172	7	with	with	ADP
fsr-3132	172	8	risk	risk	NOUN
fsr-3132	172	9	aversion	aversion	NOUN
fsr-3132	172	10	from	from	ADP
fsr-3132	172	11	2	2	NUM
fsr-3132	172	12	to	to	ADP
fsr-3132	172	13	4	4	NUM
fsr-3132	172	14	,	,	PUNCT
fsr-3132	172	15	the	the	DET
fsr-3132	172	16	theoretical	theoretical	ADJ
fsr-3132	172	17	lifecycle	lifecycle	NOUN
fsr-3132	172	18	strategy	strategy	NOUN
fsr-3132	172	19	with	with	ADP
fsr-3132	172	20	a	a	DET
fsr-3132	172	21	conservative	conservative	ADJ
fsr-3132	172	22	glide	glide	NOUN
fsr-3132	172	23	path	path	NOUN
fsr-3132	172	24	from	from	ADP
fsr-3132	172	25	50	50	NUM
fsr-3132	172	26	%	%	NOUN
fsr-3132	172	27	equity	equity	NOUN
fsr-3132	172	28	to	to	ADP
fsr-3132	172	29	30	30	NUM
fsr-3132	172	30	%	%	NOUN
fsr-3132	172	31	equity	equity	NOUN
fsr-3132	172	32	would	would	AUX
fsr-3132	172	33	outperform	outperform	VERB
fsr-3132	172	34	the	the	DET
fsr-3132	172	35	best	good	ADJ
fsr-3132	172	36	lifestyle	lifestyle	NOUN
fsr-3132	172	37	strategy	strategy	NOUN
fsr-3132	172	38	with	with	ADP
fsr-3132	172	39	40	40	NUM
fsr-3132	172	40	%	%	NOUN
fsr-3132	172	41	equity	equity	NOUN
fsr-3132	172	42	fixed	fix	VERB
fsr-3132	172	43	.	.	PUNCT
fsr-3132	173	1	the	the	DET
fsr-3132	173	2	percentage	percentage	NOUN
fsr-3132	173	3	difference	difference	NOUN
fsr-3132	173	4	in	in	ADP
fsr-3132	173	5	expected	expect	VERB
fsr-3132	173	6	utility	utility	NOUN
fsr-3132	173	7	is	be	AUX
fsr-3132	173	8	though	though	SCONJ
fsr-3132	173	9	only	only	ADV
fsr-3132	173	10	0.3	0.3	NUM
fsr-3132	173	11	%	%	NOUN
fsr-3132	173	12	,	,	PUNCT
fsr-3132	173	13	but	but	CCONJ
fsr-3132	173	14	is	be	AUX
fsr-3132	173	15	still	still	ADV
fsr-3132	173	16	significant	significant	ADJ
fsr-3132	173	17	at	at	ADP
fsr-3132	173	18	the	the	DET
fsr-3132	173	19	1	1	NUM
fsr-3132	173	20	%	%	NOUN
fsr-3132	173	21	level.9	level.9	VERB
fsr-3132	173	22	the	the	PRON
fsr-3132	173	23	higher	high	ADJ
fsr-3132	173	24	the	the	DET
fsr-3132	173	25	investor	investor	NOUN
fsr-3132	173	26	’s	’	VERB
fsr-3132	173	27	beginning	begin	VERB
fsr-3132	173	28	risk	risk	NOUN
fsr-3132	173	29	aversion	aversion	NOUN
fsr-3132	173	30	the	the	DET
fsr-3132	173	31	lower	low	ADJ
fsr-3132	173	32	should	should	AUX
fsr-3132	173	33	be	be	AUX
fsr-3132	173	34	the	the	DET
fsr-3132	173	35	equity	equity	NOUN
fsr-3132	173	36	allocation	allocation	NOUN
fsr-3132	173	37	in	in	ADP
fsr-3132	173	38	the	the	DET
fsr-3132	173	39	beginning	beginning	NOUN
fsr-3132	173	40	of	of	ADP
fsr-3132	173	41	the	the	DET
fsr-3132	173	42	accumulation	accumulation	NOUN
fsr-3132	173	43	period	period	NOUN
fsr-3132	173	44	.	.	PUNCT
fsr-3132	174	1	high	high	ADJ
fsr-3132	174	2	risk	risk	NOUN
fsr-3132	174	3	aversion	aversion	NOUN
fsr-3132	174	4	at	at	ADP
fsr-3132	174	5	the	the	DET
fsr-3132	174	6	target	target	NOUN
fsr-3132	174	7	retirement	retirement	NOUN
fsr-3132	174	8	year	year	NOUN
fsr-3132	174	9	shifts	shift	NOUN
fsr-3132	174	10	the	the	DET
fsr-3132	174	11	preference	preference	NOUN
fsr-3132	174	12	towards	towards	ADP
fsr-3132	174	13	a	a	DET
fsr-3132	174	14	more	more	ADV
fsr-3132	174	15	conservative	conservative	ADJ
fsr-3132	174	16	glide	glide	ADJ
fsr-3132	174	17	path	path	NOUN
fsr-3132	174	18	with	with	ADP
fsr-3132	174	19	lower	low	ADJ
fsr-3132	174	20	beginning	beginning	NOUN
fsr-3132	174	21	and	and	CCONJ
fsr-3132	174	22	ending	end	VERB
fsr-3132	174	23	equity	equity	NOUN
fsr-3132	174	24	level	level	NOUN
fsr-3132	174	25	.	.	PUNCT
fsr-3132	175	1	because	because	SCONJ
fsr-3132	175	2	we	we	PRON
fsr-3132	175	3	run	run	VERB
fsr-3132	175	4	our	our	PRON
fsr-3132	175	5	analysis	analysis	NOUN
fsr-3132	175	6	for	for	ADP
fsr-3132	175	7	a	a	DET
fsr-3132	175	8	wide	wide	ADJ
fsr-3132	175	9	range	range	NOUN
fsr-3132	175	10	of	of	ADP
fsr-3132	175	11	strategies	strategy	NOUN
fsr-3132	175	12	we	we	PRON
fsr-3132	175	13	find	find	VERB
fsr-3132	175	14	that	that	SCONJ
fsr-3132	175	15	even	even	ADV
fsr-3132	175	16	with	with	ADP
fsr-3132	175	17	higher	high	ADJ
fsr-3132	175	18	levels	level	NOUN
fsr-3132	175	19	of	of	ADP
fsr-3132	175	20	risk	risk	NOUN
fsr-3132	175	21	aversion	aversion	NOUN
fsr-3132	175	22	,	,	PUNCT
fsr-3132	175	23	there	there	PRON
fsr-3132	175	24	exist	exist	VERB
fsr-3132	175	25	lifecycle	lifecycle	NOUN
fsr-3132	175	26	strategies	strategy	NOUN
fsr-3132	175	27	that	that	PRON
fsr-3132	175	28	outperform	outperform	VERB
fsr-3132	175	29	lifestyle	lifestyle	NOUN
fsr-3132	175	30	strategies	strategy	NOUN
fsr-3132	175	31	although	although	SCONJ
fsr-3132	175	32	none	none	NOUN
fsr-3132	175	33	of	of	ADP
fsr-3132	175	34	the	the	DET
fsr-3132	175	35	currently	currently	ADV
fsr-3132	175	36	offered	offer	VERB
fsr-3132	175	37	tdfs	tdfs	NOUN
fsr-3132	175	38	have	have	VERB
fsr-3132	175	39	sufficiently	sufficiently	ADV
fsr-3132	175	40	conservative	conservative	ADJ
fsr-3132	175	41	glide	glide	ADJ
fsr-3132	175	42	path	path	NOUN
fsr-3132	175	43	.	.	PUNCT
fsr-3132	176	1	to	to	ADP
fsr-3132	176	2	the	the	DET
fsr-3132	176	3	investor	investor	NOUN
fsr-3132	176	4	who	who	PRON
fsr-3132	176	5	has	have	VERB
fsr-3132	176	6	above	above	ADP
fsr-3132	176	7	average	average	ADJ
fsr-3132	176	8	risk	risk	NOUN
fsr-3132	176	9	aversion	aversion	NOUN
fsr-3132	176	10	when	when	SCONJ
fsr-3132	176	11	she	she	PRON
fsr-3132	176	12	is	be	AUX
fsr-3132	176	13	young	young	ADJ
fsr-3132	176	14	,	,	PUNCT
fsr-3132	176	15	we	we	PRON
fsr-3132	176	16	recommend	recommend	VERB
fsr-3132	176	17	a	a	DET
fsr-3132	176	18	more	more	ADV
fsr-3132	176	19	conservative	conservative	ADJ
fsr-3132	176	20	tdf	tdf	NOUN
fsr-3132	176	21	that	that	PRON
fsr-3132	176	22	has	have	VERB
fsr-3132	176	23	a	a	DET
fsr-3132	176	24	target	target	NOUN
fsr-3132	176	25	year	year	NOUN
fsr-3132	176	26	shorter	short	ADJ
fsr-3132	176	27	than	than	ADP
fsr-3132	176	28	the	the	DET
fsr-3132	176	29	investor	investor	NOUN
fsr-3132	176	30	’s	’s	PART
fsr-3132	176	31	planned	plan	VERB
fsr-3132	176	32	retirement	retirement	NOUN
fsr-3132	176	33	.	.	PUNCT
fsr-3132	177	1	the	the	DET
fsr-3132	177	2	tdf	tdf	NOUN
fsr-3132	177	3	with	with	ADP
fsr-3132	177	4	the	the	DET
fsr-3132	177	5	shorter	short	ADJ
fsr-3132	177	6	target	target	NOUN
fsr-3132	177	7	date	date	NOUN
fsr-3132	177	8	has	have	AUX
fsr-3132	177	9	already	already	ADV
fsr-3132	177	10	decreased	decrease	VERB
fsr-3132	177	11	the	the	DET
fsr-3132	177	12	equity	equity	NOUN
fsr-3132	177	13	allocation	allocation	NOUN
fsr-3132	177	14	to	to	ADP
fsr-3132	177	15	the	the	DET
fsr-3132	177	16	desired	desire	VERB
fsr-3132	177	17	lower	low	ADJ
fsr-3132	177	18	level	level	NOUN
fsr-3132	177	19	.	.	PUNCT
fsr-3132	178	1	by	by	ADP
fsr-3132	178	2	picking	pick	VERB
fsr-3132	178	3	the	the	DET
fsr-3132	178	4	tdf	tdf	NOUN
fsr-3132	178	5	with	with	ADP
fsr-3132	178	6	the	the	DET
fsr-3132	178	7	target	target	NOUN
fsr-3132	178	8	date	date	NOUN
fsr-3132	178	9	that	that	PRON
fsr-3132	178	10	does	do	AUX
fsr-3132	178	11	not	not	PART
fsr-3132	178	12	match	match	VERB
fsr-3132	178	13	her	she	PRON
fsr-3132	178	14	desired	desire	VERB
fsr-3132	178	15	target	target	NOUN
fsr-3132	178	16	retirement	retirement	NOUN
fsr-3132	178	17	year	year	NOUN
fsr-3132	178	18	,	,	PUNCT
fsr-3132	178	19	the	the	DET
fsr-3132	178	20	investor	investor	NOUN
fsr-3132	178	21	may	may	AUX
fsr-3132	178	22	find	find	VERB
fsr-3132	178	23	a	a	DET
fsr-3132	178	24	fund	fund	NOUN
fsr-3132	178	25	with	with	ADP
fsr-3132	178	26	the	the	DET
fsr-3132	178	27	glide	glide	ADJ
fsr-3132	178	28	path	path	NOUN
fsr-3132	178	29	that	that	PRON
fsr-3132	178	30	matches	match	VERB
fsr-3132	178	31	her	her	PRON
fsr-3132	178	32	risk	risk	NOUN
fsr-3132	178	33	aversion	aversion	NOUN
fsr-3132	178	34	and	and	CCONJ
fsr-3132	178	35	will	will	AUX
fsr-3132	178	36	maximize	maximize	VERB
fsr-3132	178	37	her	her	PRON
fsr-3132	178	38	expected	expect	VERB
fsr-3132	178	39	utility	utility	NOUN
fsr-3132	178	40	.	.	PUNCT
fsr-3132	179	1	one	one	NUM
fsr-3132	179	2	of	of	ADP
fsr-3132	179	3	the	the	DET
fsr-3132	179	4	main	main	ADJ
fsr-3132	179	5	selling	selling	NOUN
fsr-3132	179	6	points	point	NOUN
fsr-3132	179	7	of	of	ADP
fsr-3132	179	8	tdfs	tdfs	NOUN
fsr-3132	179	9	is	be	AUX
fsr-3132	179	10	that	that	SCONJ
fsr-3132	179	11	the	the	DET
fsr-3132	179	12	target	target	NOUN
fsr-3132	179	13	year	year	NOUN
fsr-3132	179	14	stated	state	VERB
fsr-3132	179	15	in	in	ADP
fsr-3132	179	16	the	the	DET
fsr-3132	179	17	fund	fund	NOUN
fsr-3132	179	18	name	name	NOUN
fsr-3132	179	19	is	be	AUX
fsr-3132	179	20	an	an	DET
fsr-3132	179	21	easy	easy	ADJ
fsr-3132	179	22	way	way	NOUN
fsr-3132	179	23	for	for	SCONJ
fsr-3132	179	24	the	the	DET
fsr-3132	179	25	investor	investor	NOUN
fsr-3132	179	26	to	to	PART
fsr-3132	179	27	find	find	VERB
fsr-3132	179	28	the	the	DET
fsr-3132	179	29	suitable	suitable	ADJ
fsr-3132	179	30	fund	fund	NOUN
fsr-3132	179	31	.	.	PUNCT
fsr-3132	180	1	in	in	ADP
fsr-3132	180	2	addition	addition	NOUN
fsr-3132	180	3	quite	quite	ADV
fsr-3132	180	4	often	often	ADV
fsr-3132	180	5	it	it	PRON
fsr-3132	180	6	is	be	AUX
fsr-3132	180	7	the	the	DET
fsr-3132	180	8	plan	plan	NOUN
fsr-3132	180	9	sponsor	sponsor	NOUN
fsr-3132	180	10	who	who	PRON
fsr-3132	180	11	picks	pick	VERB
fsr-3132	180	12	the	the	DET
fsr-3132	180	13	fund	fund	NOUN
fsr-3132	180	14	for	for	ADP
fsr-3132	180	15	the	the	DET
fsr-3132	180	16	investor	investor	NOUN
fsr-3132	180	17	as	as	SCONJ
fsr-3132	180	18	the	the	DET
fsr-3132	180	19	investor	investor	NOUN
fsr-3132	180	20	herself	herself	PRON
fsr-3132	180	21	has	have	AUX
fsr-3132	180	22	failed	fail	VERB
fsr-3132	180	23	to	to	PART
fsr-3132	180	24	make	make	VERB
fsr-3132	180	25	her	her	PRON
fsr-3132	180	26	choice	choice	NOUN
fsr-3132	180	27	.	.	PUNCT
fsr-3132	181	1	therefore	therefore	ADV
fsr-3132	181	2	,	,	PUNCT
fsr-3132	181	3	the	the	DET
fsr-3132	181	4	suggestion	suggestion	NOUN
fsr-3132	181	5	to	to	PART
fsr-3132	181	6	deviate	deviate	VERB
fsr-3132	181	7	from	from	ADP
fsr-3132	181	8	the	the	DET
fsr-3132	181	9	tdf	tdf	NOUN
fsr-3132	181	10	with	with	ADP
fsr-3132	181	11	the	the	DET
fsr-3132	181	12	matching	match	VERB
fsr-3132	181	13	target	target	NOUN
fsr-3132	181	14	year	year	NOUN
fsr-3132	181	15	may	may	AUX
fsr-3132	181	16	not	not	PART
fsr-3132	181	17	be	be	AUX
fsr-3132	181	18	very	very	ADV
fsr-3132	181	19	helpful	helpful	ADJ
fsr-3132	181	20	.	.	PUNCT
fsr-3132	182	1	therefore	therefore	ADV
fsr-3132	182	2	,	,	PUNCT
fsr-3132	182	3	we	we	PRON
fsr-3132	182	4	recommend	recommend	VERB
fsr-3132	182	5	that	that	SCONJ
fsr-3132	182	6	fund	fund	NOUN
fsr-3132	182	7	families	family	NOUN
fsr-3132	182	8	should	should	AUX
fsr-3132	182	9	include	include	VERB
fsr-3132	182	10	in	in	ADP
fsr-3132	182	11	their	their	PRON
fsr-3132	182	12	menu	menu	NOUN
fsr-3132	182	13	tdfs	tdfs	NOUN
fsr-3132	182	14	with	with	ADP
fsr-3132	182	15	more	more	ADJ
fsr-3132	182	16	conservative	conservative	ADJ
fsr-3132	182	17	glide	glide	ADJ
fsr-3132	182	18	paths	path	NOUN
fsr-3132	182	19	that	that	PRON
fsr-3132	182	20	may	may	AUX
fsr-3132	182	21	be	be	AUX
fsr-3132	182	22	more	more	ADV
fsr-3132	182	23	suitable	suitable	ADJ
fsr-3132	182	24	for	for	ADP
fsr-3132	182	25	more	more	ADJ
fsr-3132	182	26	risk	risk	NOUN
fsr-3132	182	27	averse	averse	ADJ
fsr-3132	182	28	investors	investor	NOUN
fsr-3132	182	29	.	.	PUNCT
fsr-3132	183	1	so	so	ADV
fsr-3132	183	2	far	far	ADV
fsr-3132	183	3	,	,	PUNCT
fsr-3132	183	4	we	we	PRON
fsr-3132	183	5	have	have	AUX
fsr-3132	183	6	assumed	assume	VERB
fsr-3132	183	7	that	that	SCONJ
fsr-3132	183	8	a	a	DET
fsr-3132	183	9	young	young	ADJ
fsr-3132	183	10	person	person	NOUN
fsr-3132	183	11	enters	enter	VERB
fsr-3132	183	12	the	the	DET
fsr-3132	183	13	work	work	NOUN
fsr-3132	183	14	force	force	NOUN
fsr-3132	183	15	,	,	PUNCT
fsr-3132	183	16	for	for	ADP
fsr-3132	183	17	example	example	NOUN
fsr-3132	183	18	,	,	PUNCT
fsr-3132	183	19	after	after	SCONJ
fsr-3132	183	20	178	178	NUM
fsr-3132	183	21	r.p	r.p	PROPN
fsr-3132	183	22	.	.	PROPN
fsr-3132	183	23	chang	chang	PROPN
fsr-3132	183	24	et	et	PROPN
fsr-3132	183	25	al	al	PROPN
fsr-3132	183	26	.	.	PUNCT
fsr-3132	183	27	/	/	SYM
fsr-3132	183	28	financial	financial	ADJ
fsr-3132	183	29	services	service	NOUN
fsr-3132	183	30	review	review	VERB
fsr-3132	183	31	23	23	NUM
fsr-3132	183	32	(	(	PUNCT
fsr-3132	183	33	2014	2014	NUM
fsr-3132	183	34	)	)	PUNCT
fsr-3132	183	35	169–188	169–188	NUM
fsr-3132	183	36	finishing	finish	VERB
fsr-3132	183	37	her	her	PRON
fsr-3132	183	38	undergraduate	undergraduate	ADJ
fsr-3132	183	39	education	education	NOUN
fsr-3132	183	40	at	at	ADP
fsr-3132	183	41	around	around	ADP
fsr-3132	183	42	age	age	NOUN
fsr-3132	183	43	25	25	NUM
fsr-3132	183	44	and	and	CCONJ
fsr-3132	183	45	immediately	immediately	ADV
fsr-3132	183	46	starts	start	VERB
fsr-3132	183	47	making	make	VERB
fsr-3132	183	48	contributions	contribution	NOUN
fsr-3132	183	49	to	to	ADP
fsr-3132	183	50	the	the	DET
fsr-3132	183	51	retirement	retirement	NOUN
fsr-3132	183	52	savings	saving	NOUN
fsr-3132	183	53	plan	plan	NOUN
fsr-3132	183	54	.	.	PUNCT
fsr-3132	184	1	unfortunately	unfortunately	ADV
fsr-3132	184	2	,	,	PUNCT
fsr-3132	184	3	this	this	PRON
fsr-3132	184	4	is	be	AUX
fsr-3132	184	5	quite	quite	ADV
fsr-3132	184	6	often	often	ADV
fsr-3132	184	7	not	not	PART
fsr-3132	184	8	the	the	DET
fsr-3132	184	9	case	case	NOUN
fsr-3132	184	10	as	as	SCONJ
fsr-3132	184	11	young	young	ADJ
fsr-3132	184	12	people	people	NOUN
fsr-3132	184	13	do	do	AUX
fsr-3132	184	14	not	not	PART
fsr-3132	184	15	take	take	VERB
fsr-3132	184	16	advantage	advantage	NOUN
fsr-3132	184	17	of	of	ADP
fsr-3132	184	18	time	time	NOUN
fsr-3132	184	19	as	as	ADP
fsr-3132	184	20	their	their	PRON
fsr-3132	184	21	ally	ally	NOUN
fsr-3132	184	22	in	in	ADP
fsr-3132	184	23	investing	invest	VERB
fsr-3132	184	24	for	for	ADP
fsr-3132	184	25	retirement	retirement	NOUN
fsr-3132	184	26	.	.	PUNCT
fsr-3132	185	1	we	we	PRON
fsr-3132	185	2	analyze	analyze	VERB
fsr-3132	185	3	whether	whether	SCONJ
fsr-3132	185	4	tdfs	tdfs	NOUN
fsr-3132	185	5	would	would	AUX
fsr-3132	185	6	also	also	ADV
fsr-3132	185	7	be	be	AUX
fsr-3132	185	8	a	a	DET
fsr-3132	185	9	good	good	ADJ
fsr-3132	185	10	choice	choice	NOUN
fsr-3132	185	11	for	for	ADP
fsr-3132	185	12	the	the	DET
fsr-3132	185	13	person	person	NOUN
fsr-3132	185	14	who	who	PRON
fsr-3132	185	15	joins	join	VERB
fsr-3132	185	16	the	the	DET
fsr-3132	185	17	defined	define	VERB
fsr-3132	185	18	contribution	contribution	NOUN
fsr-3132	185	19	plan	plan	NOUN
fsr-3132	185	20	later	later	ADV
fsr-3132	185	21	in	in	ADP
fsr-3132	185	22	life	life	NOUN
fsr-3132	185	23	,	,	PUNCT
fsr-3132	185	24	for	for	ADP
fsr-3132	185	25	example	example	NOUN
fsr-3132	185	26	30	30	NUM
fsr-3132	185	27	,	,	PUNCT
fsr-3132	185	28	20	20	NUM
fsr-3132	185	29	,	,	PUNCT
fsr-3132	185	30	or	or	CCONJ
fsr-3132	185	31	even	even	ADV
fsr-3132	185	32	only	only	ADV
fsr-3132	185	33	10	10	NUM
fsr-3132	185	34	years	year	NOUN
fsr-3132	185	35	before	before	ADP
fsr-3132	185	36	the	the	DET
fsr-3132	185	37	desired	desire	VERB
fsr-3132	185	38	target	target	NOUN
fsr-3132	185	39	retirement	retirement	NOUN
fsr-3132	185	40	date	date	NOUN
fsr-3132	185	41	in	in	ADP
fsr-3132	185	42	the	the	DET
fsr-3132	185	43	remaining	remain	VERB
fsr-3132	185	44	panels	panel	NOUN
fsr-3132	185	45	in	in	ADP
fsr-3132	185	46	table	table	NOUN
fsr-3132	185	47	3	3	NUM
fsr-3132	185	48	.	.	PUNCT
fsr-3132	185	49	panel	panel	PROPN
fsr-3132	185	50	b	b	PROPN
fsr-3132	185	51	of	of	ADP
fsr-3132	185	52	table	table	NOUN
fsr-3132	185	53	3	3	NUM
fsr-3132	185	54	assumes	assume	VERB
fsr-3132	185	55	that	that	SCONJ
fsr-3132	185	56	our	our	PRON
fsr-3132	185	57	young	young	ADJ
fsr-3132	185	58	investor	investor	NOUN
fsr-3132	185	59	postpones	postpone	NOUN
fsr-3132	185	60	saving	save	VERB
fsr-3132	185	61	for	for	ADP
fsr-3132	185	62	retirement	retirement	NOUN
fsr-3132	185	63	by	by	ADP
fsr-3132	185	64	10	10	NUM
fsr-3132	185	65	years	year	NOUN
fsr-3132	185	66	.	.	PUNCT
fsr-3132	186	1	we	we	PRON
fsr-3132	186	2	assume	assume	VERB
fsr-3132	186	3	that	that	SCONJ
fsr-3132	186	4	our	our	PRON
fsr-3132	186	5	investor	investor	NOUN
fsr-3132	186	6	picks	pick	VERB
fsr-3132	186	7	a	a	DET
fsr-3132	186	8	tdf	tdf	NOUN
fsr-3132	186	9	that	that	PRON
fsr-3132	186	10	has	have	VERB
fsr-3132	186	11	a	a	DET
fsr-3132	186	12	target	target	NOUN
fsr-3132	186	13	year	year	NOUN
fsr-3132	186	14	similar	similar	ADJ
fsr-3132	186	15	to	to	ADP
fsr-3132	186	16	her	her	PRON
fsr-3132	186	17	planned	plan	VERB
fsr-3132	186	18	year	year	NOUN
fsr-3132	186	19	of	of	ADP
fsr-3132	186	20	retirement	retirement	NOUN
fsr-3132	186	21	.	.	PUNCT
fsr-3132	187	1	in	in	ADP
fsr-3132	187	2	such	such	DET
fsr-3132	187	3	a	a	DET
fsr-3132	187	4	case	case	NOUN
fsr-3132	187	5	the	the	DET
fsr-3132	187	6	tdf	tdf	NOUN
fsr-3132	187	7	that	that	PRON
fsr-3132	187	8	our	our	PRON
fsr-3132	187	9	investor	investor	NOUN
fsr-3132	187	10	starts	start	VERB
fsr-3132	187	11	making	make	VERB
fsr-3132	187	12	contributions	contribution	NOUN
fsr-3132	187	13	to	to	PART
fsr-3132	187	14	has	have	AUX
fsr-3132	187	15	already	already	ADV
fsr-3132	187	16	decreased	decrease	VERB
fsr-3132	187	17	the	the	DET
fsr-3132	187	18	equity	equity	NOUN
fsr-3132	187	19	allocation	allocation	NOUN
fsr-3132	187	20	for	for	ADP
fsr-3132	187	21	the	the	DET
fsr-3132	187	22	first	first	ADJ
fsr-3132	187	23	10	10	NUM
fsr-3132	187	24	years	year	NOUN
fsr-3132	187	25	,	,	PUNCT
fsr-3132	187	26	assuming	assume	VERB
fsr-3132	187	27	the	the	DET
fsr-3132	187	28	smooth	smooth	ADJ
fsr-3132	187	29	glide	glide	ADJ
fsr-3132	187	30	path	path	NOUN
fsr-3132	187	31	.	.	PUNCT
fsr-3132	188	1	for	for	ADP
fsr-3132	188	2	example	example	NOUN
fsr-3132	188	3	for	for	ADP
fsr-3132	188	4	the	the	DET
fsr-3132	188	5	investor	investor	NOUN
fsr-3132	188	6	who	who	PRON
fsr-3132	188	7	picks	pick	VERB
fsr-3132	188	8	a	a	DET
fsr-3132	188	9	tdf	tdf	NOUN
fsr-3132	188	10	with	with	ADP
fsr-3132	188	11	the	the	DET
fsr-3132	188	12	matching	matching	NOUN
fsr-3132	188	13	target	target	NOUN
fsr-3132	188	14	date	date	NOUN
fsr-3132	188	15	and	and	CCONJ
fsr-3132	188	16	glide	glide	NOUN
fsr-3132	188	17	path	path	NOUN
fsr-3132	188	18	from	from	ADP
fsr-3132	188	19	90	90	NUM
fsr-3132	188	20	%	%	NOUN
fsr-3132	188	21	equity	equity	NOUN
fsr-3132	188	22	to	to	ADP
fsr-3132	188	23	40	40	NUM
fsr-3132	188	24	%	%	NOUN
fsr-3132	188	25	equity	equity	NOUN
fsr-3132	188	26	,	,	PUNCT
fsr-3132	188	27	the	the	DET
fsr-3132	188	28	level	level	NOUN
fsr-3132	188	29	of	of	ADP
fsr-3132	188	30	equity	equity	NOUN
fsr-3132	188	31	in	in	ADP
fsr-3132	188	32	the	the	DET
fsr-3132	188	33	portfolio	portfolio	NOUN
fsr-3132	188	34	is	be	AUX
fsr-3132	188	35	at	at	ADP
fsr-3132	188	36	about	about	ADV
fsr-3132	188	37	80	80	NUM
fsr-3132	188	38	%	%	NOUN
fsr-3132	188	39	when	when	SCONJ
fsr-3132	188	40	she	she	PRON
fsr-3132	188	41	starts	start	VERB
fsr-3132	188	42	making	make	VERB
fsr-3132	188	43	investments	investment	NOUN
fsr-3132	188	44	into	into	ADP
fsr-3132	188	45	this	this	DET
fsr-3132	188	46	fund	fund	NOUN
fsr-3132	188	47	.	.	PUNCT
fsr-3132	189	1	in	in	ADP
fsr-3132	189	2	our	our	PRON
fsr-3132	189	3	analysis	analysis	NOUN
fsr-3132	189	4	we	we	PRON
fsr-3132	189	5	assume	assume	VERB
fsr-3132	189	6	our	our	PRON
fsr-3132	189	7	investor	investor	NOUN
fsr-3132	189	8	’s	’s	PART
fsr-3132	189	9	risk	risk	NOUN
fsr-3132	189	10	aversion	aversion	NOUN
fsr-3132	189	11	is	be	AUX
fsr-3132	189	12	at	at	ADP
fsr-3132	189	13	its	its	PRON
fsr-3132	189	14	minimum	minimum	NOUN
fsr-3132	189	15	when	when	SCONJ
fsr-3132	189	16	she	she	PRON
fsr-3132	189	17	starts	start	VERB
fsr-3132	189	18	making	make	VERB
fsr-3132	189	19	contributions	contribution	NOUN
fsr-3132	189	20	into	into	ADP
fsr-3132	189	21	the	the	DET
fsr-3132	189	22	retirement	retirement	NOUN
fsr-3132	189	23	fund	fund	NOUN
fsr-3132	189	24	.	.	PUNCT
fsr-3132	190	1	if	if	SCONJ
fsr-3132	190	2	risk	risk	NOUN
fsr-3132	190	3	aversion	aversion	NOUN
fsr-3132	190	4	of	of	ADP
fsr-3132	190	5	the	the	DET
fsr-3132	190	6	risk	risk	NOUN
fsr-3132	190	7	-	-	PUNCT
fsr-3132	190	8	neutral	neutral	ADJ
fsr-3132	190	9	investor	investor	NOUN
fsr-3132	190	10	increases	increase	VERB
fsr-3132	190	11	from	from	ADP
fsr-3132	190	12	0	0	NUM
fsr-3132	190	13	to	to	ADP
fsr-3132	190	14	the	the	DET
fsr-3132	190	15	level	level	NOUN
fsr-3132	190	16	of	of	ADP
fsr-3132	190	17	4	4	NUM
fsr-3132	190	18	over	over	ADP
fsr-3132	190	19	her	her	PRON
fsr-3132	190	20	30	30	NUM
fsr-3132	190	21	-	-	PUNCT
fsr-3132	190	22	year	year	NOUN
fsr-3132	190	23	accumulation	accumulation	NOUN
fsr-3132	190	24	period	period	NOUN
fsr-3132	190	25	,	,	PUNCT
fsr-3132	190	26	the	the	DET
fsr-3132	190	27	lifestyle	lifestyle	NOUN
fsr-3132	190	28	strategy	strategy	NOUN
fsr-3132	190	29	that	that	PRON
fsr-3132	190	30	yields	yield	VERB
fsr-3132	190	31	the	the	DET
fsr-3132	190	32	highest	high	ADJ
fsr-3132	190	33	utility	utility	NOUN
fsr-3132	190	34	should	should	AUX
fsr-3132	190	35	have	have	VERB
fsr-3132	190	36	55	55	NUM
fsr-3132	190	37	%	%	NOUN
fsr-3132	190	38	equity	equity	NOUN
fsr-3132	190	39	.	.	PUNCT
fsr-3132	191	1	from	from	ADP
fsr-3132	191	2	the	the	DET
fsr-3132	191	3	more	more	ADV
fsr-3132	191	4	common	common	ADJ
fsr-3132	191	5	lifecycle	lifecycle	NOUN
fsr-3132	191	6	strategies	strategy	NOUN
fsr-3132	191	7	listed	list	VERB
fsr-3132	191	8	in	in	ADP
fsr-3132	191	9	panel	panel	NOUN
fsr-3132	191	10	b	b	PROPN
fsr-3132	191	11	in	in	ADP
fsr-3132	191	12	table	table	NOUN
fsr-3132	191	13	3	3	NUM
fsr-3132	191	14	,	,	PUNCT
fsr-3132	191	15	all	all	PRON
fsr-3132	191	16	of	of	ADP
fsr-3132	191	17	them	they	PRON
fsr-3132	191	18	outperform	outperform	VERB
fsr-3132	191	19	the	the	DET
fsr-3132	191	20	best	good	ADJ
fsr-3132	191	21	lifestyle	lifestyle	NOUN
fsr-3132	191	22	strategy	strategy	NOUN
fsr-3132	191	23	in	in	ADP
fsr-3132	191	24	the	the	DET
fsr-3132	191	25	context	context	NOUN
fsr-3132	191	26	of	of	ADP
fsr-3132	191	27	total	total	ADJ
fsr-3132	191	28	expected	expect	VERB
fsr-3132	191	29	utility	utility	NOUN
fsr-3132	191	30	.	.	PUNCT
fsr-3132	192	1	the	the	DET
fsr-3132	192	2	highest	high	ADJ
fsr-3132	192	3	utility	utility	NOUN
fsr-3132	192	4	is	be	AUX
fsr-3132	192	5	reached	reach	VERB
fsr-3132	192	6	with	with	ADP
fsr-3132	192	7	the	the	DET
fsr-3132	192	8	strategy	strategy	NOUN
fsr-3132	192	9	with	with	ADP
fsr-3132	192	10	the	the	DET
fsr-3132	192	11	original	original	ADJ
fsr-3132	192	12	glide	glide	NOUN
fsr-3132	192	13	path	path	NOUN
fsr-3132	192	14	from	from	ADP
fsr-3132	192	15	100	100	NUM
fsr-3132	192	16	%	%	NOUN
fsr-3132	192	17	equity	equity	NOUN
fsr-3132	192	18	to	to	ADP
fsr-3132	192	19	25	25	NUM
fsr-3132	192	20	%	%	NOUN
fsr-3132	192	21	equity	equity	NOUN
fsr-3132	192	22	at	at	ADP
fsr-3132	192	23	the	the	DET
fsr-3132	192	24	target	target	NOUN
fsr-3132	192	25	date	date	NOUN
fsr-3132	192	26	.	.	PUNCT
fsr-3132	193	1	this	this	DET
fsr-3132	193	2	tdf	tdf	PROPN
fsr-3132	193	3	would	would	AUX
fsr-3132	193	4	have	have	AUX
fsr-3132	193	5	decreased	decrease	VERB
fsr-3132	193	6	the	the	DET
fsr-3132	193	7	equity	equity	NOUN
fsr-3132	193	8	allocation	allocation	NOUN
fsr-3132	193	9	to	to	ADP
fsr-3132	193	10	about	about	ADV
fsr-3132	193	11	81	81	NUM
fsr-3132	193	12	%	%	NOUN
fsr-3132	193	13	when	when	SCONJ
fsr-3132	193	14	the	the	DET
fsr-3132	193	15	investor	investor	NOUN
fsr-3132	193	16	starts	start	VERB
fsr-3132	193	17	to	to	PART
fsr-3132	193	18	make	make	VERB
fsr-3132	193	19	contributions	contribution	NOUN
fsr-3132	193	20	to	to	ADP
fsr-3132	193	21	her	her	PRON
fsr-3132	193	22	retirement	retirement	NOUN
fsr-3132	193	23	plan	plan	NOUN
fsr-3132	193	24	,	,	PUNCT
fsr-3132	193	25	and	and	CCONJ
fsr-3132	193	26	it	it	PRON
fsr-3132	193	27	yields	yield	VERB
fsr-3132	193	28	a	a	DET
fsr-3132	193	29	utility	utility	NOUN
fsr-3132	193	30	4.5	4.5	NUM
fsr-3132	193	31	%	%	NOUN
fsr-3132	193	32	higher	high	ADJ
fsr-3132	193	33	than	than	ADP
fsr-3132	193	34	that	that	PRON
fsr-3132	193	35	from	from	ADP
fsr-3132	193	36	the	the	DET
fsr-3132	193	37	best	good	ADJ
fsr-3132	193	38	lifestyle	lifestyle	NOUN
fsr-3132	193	39	strategy	strategy	NOUN
fsr-3132	193	40	,	,	PUNCT
fsr-3132	193	41	which	which	PRON
fsr-3132	193	42	is	be	AUX
fsr-3132	193	43	significant	significant	ADJ
fsr-3132	193	44	at	at	ADP
fsr-3132	193	45	the	the	DET
fsr-3132	193	46	1	1	NUM
fsr-3132	193	47	%	%	NOUN
fsr-3132	193	48	level	level	NOUN
fsr-3132	193	49	.	.	PUNCT
fsr-3132	194	1	if	if	SCONJ
fsr-3132	194	2	the	the	DET
fsr-3132	194	3	investor	investor	NOUN
fsr-3132	194	4	is	be	AUX
fsr-3132	194	5	more	more	ADJ
fsr-3132	194	6	risk	risk	NOUN
fsr-3132	194	7	averse	averse	ADJ
fsr-3132	194	8	and	and	CCONJ
fsr-3132	194	9	her	her	PRON
fsr-3132	194	10	risk	risk	NOUN
fsr-3132	194	11	aversion	aversion	NOUN
fsr-3132	194	12	increases	increase	VERB
fsr-3132	194	13	from	from	ADP
fsr-3132	194	14	2	2	NUM
fsr-3132	194	15	at	at	ADP
fsr-3132	194	16	30	30	NUM
fsr-3132	194	17	years	year	NOUN
fsr-3132	194	18	before	before	ADP
fsr-3132	194	19	the	the	DET
fsr-3132	194	20	target	target	NOUN
fsr-3132	194	21	year	year	NOUN
fsr-3132	194	22	to	to	ADP
fsr-3132	194	23	4	4	NUM
fsr-3132	194	24	at	at	ADP
fsr-3132	194	25	the	the	DET
fsr-3132	194	26	target	target	NOUN
fsr-3132	194	27	year	year	NOUN
fsr-3132	194	28	,	,	PUNCT
fsr-3132	194	29	her	her	PRON
fsr-3132	194	30	best	good	ADJ
fsr-3132	194	31	choice	choice	NOUN
fsr-3132	194	32	would	would	AUX
fsr-3132	194	33	be	be	AUX
fsr-3132	194	34	a	a	DET
fsr-3132	194	35	portfolio	portfolio	NOUN
fsr-3132	194	36	strategy	strategy	NOUN
fsr-3132	194	37	with	with	ADP
fsr-3132	194	38	original	original	ADJ
fsr-3132	194	39	glide	glide	NOUN
fsr-3132	194	40	path	path	NOUN
fsr-3132	194	41	from	from	ADP
fsr-3132	194	42	50	50	NUM
fsr-3132	194	43	%	%	NOUN
fsr-3132	194	44	equity	equity	NOUN
fsr-3132	194	45	to	to	ADP
fsr-3132	194	46	30	30	NUM
fsr-3132	194	47	%	%	NOUN
fsr-3132	194	48	equity	equity	NOUN
fsr-3132	194	49	.	.	PUNCT
fsr-3132	195	1	the	the	DET
fsr-3132	195	2	increase	increase	NOUN
fsr-3132	195	3	in	in	ADP
fsr-3132	195	4	expected	expect	VERB
fsr-3132	195	5	utility	utility	NOUN
fsr-3132	195	6	is	be	AUX
fsr-3132	195	7	only	only	ADV
fsr-3132	195	8	0.3	0.3	NUM
fsr-3132	195	9	%	%	NOUN
fsr-3132	195	10	still	still	ADV
fsr-3132	195	11	significantly	significantly	ADV
fsr-3132	195	12	higher	high	ADJ
fsr-3132	195	13	than	than	ADP
fsr-3132	195	14	the	the	DET
fsr-3132	195	15	utility	utility	NOUN
fsr-3132	195	16	from	from	ADP
fsr-3132	195	17	the	the	DET
fsr-3132	195	18	best	good	ADJ
fsr-3132	195	19	lifestyle	lifestyle	NOUN
fsr-3132	195	20	(	(	PUNCT
fsr-3132	195	21	40	40	NUM
fsr-3132	195	22	%	%	NOUN
fsr-3132	195	23	equity	equity	NOUN
fsr-3132	195	24	)	)	PUNCT
fsr-3132	195	25	strategy	strategy	NOUN
fsr-3132	195	26	.	.	PUNCT
fsr-3132	196	1	if	if	SCONJ
fsr-3132	196	2	the	the	DET
fsr-3132	196	3	investor	investor	NOUN
fsr-3132	196	4	is	be	AUX
fsr-3132	196	5	very	very	ADV
fsr-3132	196	6	risk	risk	NOUN
fsr-3132	196	7	averse	averse	ADJ
fsr-3132	196	8	with	with	ADP
fsr-3132	196	9	risk	risk	NOUN
fsr-3132	196	10	aversion	aversion	NOUN
fsr-3132	196	11	increasing	increase	VERB
fsr-3132	196	12	from	from	ADP
fsr-3132	196	13	2	2	NUM
fsr-3132	196	14	to	to	ADP
fsr-3132	196	15	6	6	NUM
fsr-3132	196	16	,	,	PUNCT
fsr-3132	196	17	we	we	PRON
fsr-3132	196	18	still	still	ADV
fsr-3132	196	19	find	find	VERB
fsr-3132	196	20	that	that	SCONJ
fsr-3132	196	21	a	a	DET
fsr-3132	196	22	conservative	conservative	ADJ
fsr-3132	196	23	lifecycle	lifecycle	NOUN
fsr-3132	196	24	strategy	strategy	NOUN
fsr-3132	196	25	with	with	ADP
fsr-3132	196	26	the	the	DET
fsr-3132	196	27	glide	glide	ADJ
fsr-3132	196	28	path	path	NOUN
fsr-3132	196	29	from	from	ADP
fsr-3132	196	30	45	45	NUM
fsr-3132	196	31	%	%	NOUN
fsr-3132	196	32	equity	equity	NOUN
fsr-3132	196	33	to	to	ADP
fsr-3132	196	34	20	20	NUM
fsr-3132	196	35	%	%	NOUN
fsr-3132	196	36	over	over	ADP
fsr-3132	196	37	30	30	NUM
fsr-3132	196	38	years	year	NOUN
fsr-3132	196	39	yields	yield	VERB
fsr-3132	196	40	investor	investor	NOUN
fsr-3132	196	41	higher	high	ADJ
fsr-3132	196	42	utility	utility	NOUN
fsr-3132	196	43	.	.	PUNCT
fsr-3132	197	1	however	however	ADV
fsr-3132	197	2	,	,	PUNCT
fsr-3132	197	3	none	none	NOUN
fsr-3132	197	4	of	of	ADP
fsr-3132	197	5	the	the	DET
fsr-3132	197	6	tdfs	tdfs	NOUN
fsr-3132	197	7	in	in	ADP
fsr-3132	197	8	the	the	DET
fsr-3132	197	9	market	market	NOUN
fsr-3132	197	10	have	have	AUX
fsr-3132	197	11	decreased	decrease	VERB
fsr-3132	197	12	the	the	DET
fsr-3132	197	13	equity	equity	NOUN
fsr-3132	197	14	to	to	ADP
fsr-3132	197	15	such	such	DET
fsr-3132	197	16	a	a	DET
fsr-3132	197	17	low	low	ADJ
fsr-3132	197	18	level	level	NOUN
fsr-3132	197	19	30	30	NUM
fsr-3132	197	20	years	year	NOUN
fsr-3132	197	21	before	before	ADP
fsr-3132	197	22	the	the	DET
fsr-3132	197	23	target	target	NOUN
fsr-3132	197	24	date	date	NOUN
fsr-3132	197	25	.	.	PUNCT
fsr-3132	198	1	therefore	therefore	ADV
fsr-3132	198	2	,	,	PUNCT
fsr-3132	198	3	the	the	DET
fsr-3132	198	4	conservative	conservative	ADJ
fsr-3132	198	5	investor	investor	NOUN
fsr-3132	198	6	needs	need	VERB
fsr-3132	198	7	a	a	DET
fsr-3132	198	8	tdf	tdf	NOUN
fsr-3132	198	9	with	with	ADP
fsr-3132	198	10	a	a	DET
fsr-3132	198	11	far	far	ADV
fsr-3132	198	12	more	more	ADV
fsr-3132	198	13	conservative	conservative	ADJ
fsr-3132	198	14	glide	glide	ADJ
fsr-3132	198	15	path	path	NOUN
fsr-3132	198	16	than	than	SCONJ
fsr-3132	198	17	any	any	PRON
fsr-3132	198	18	of	of	ADP
fsr-3132	198	19	the	the	DET
fsr-3132	198	20	fund	fund	NOUN
fsr-3132	198	21	families	family	NOUN
fsr-3132	198	22	currently	currently	ADV
fsr-3132	198	23	offer	offer	VERB
fsr-3132	198	24	.	.	PUNCT
fsr-3132	199	1	if	if	SCONJ
fsr-3132	199	2	the	the	DET
fsr-3132	199	3	investor	investor	NOUN
fsr-3132	199	4	postpones	postpone	VERB
fsr-3132	199	5	making	make	VERB
fsr-3132	199	6	contributions	contribution	NOUN
fsr-3132	199	7	into	into	ADP
fsr-3132	199	8	a	a	DET
fsr-3132	199	9	retirement	retirement	NOUN
fsr-3132	199	10	account	account	NOUN
fsr-3132	199	11	even	even	ADV
fsr-3132	199	12	longer	long	ADV
fsr-3132	199	13	and	and	CCONJ
fsr-3132	199	14	leaves	leave	VERB
fsr-3132	199	15	only	only	ADV
fsr-3132	199	16	20	20	NUM
fsr-3132	199	17	years	year	NOUN
fsr-3132	199	18	for	for	ADP
fsr-3132	199	19	contributing	contribute	VERB
fsr-3132	199	20	towards	towards	ADP
fsr-3132	199	21	her	her	PRON
fsr-3132	199	22	retirement	retirement	NOUN
fsr-3132	199	23	nest	nest	NOUN
fsr-3132	199	24	egg	egg	NOUN
fsr-3132	199	25	,	,	PUNCT
fsr-3132	199	26	the	the	DET
fsr-3132	199	27	glide	glide	ADJ
fsr-3132	199	28	path	path	NOUN
fsr-3132	199	29	of	of	ADP
fsr-3132	199	30	lifecycle	lifecycle	NOUN
fsr-3132	199	31	strategies	strategy	NOUN
fsr-3132	199	32	has	have	AUX
fsr-3132	199	33	brought	bring	VERB
fsr-3132	199	34	the	the	DET
fsr-3132	199	35	equity	equity	NOUN
fsr-3132	199	36	level	level	NOUN
fsr-3132	199	37	in	in	ADP
fsr-3132	199	38	the	the	DET
fsr-3132	199	39	portfolio	portfolio	NOUN
fsr-3132	199	40	even	even	ADV
fsr-3132	199	41	lower	lower	ADV
fsr-3132	199	42	.	.	PUNCT
fsr-3132	200	1	the	the	DET
fsr-3132	200	2	summary	summary	NOUN
fsr-3132	200	3	of	of	ADP
fsr-3132	200	4	expected	expect	VERB
fsr-3132	200	5	utilities	utility	NOUN
fsr-3132	200	6	under	under	ADP
fsr-3132	200	7	the	the	DET
fsr-3132	200	8	same	same	ADJ
fsr-3132	200	9	assumptions	assumption	NOUN
fsr-3132	200	10	is	be	AUX
fsr-3132	200	11	brought	bring	VERB
fsr-3132	200	12	in	in	ADP
fsr-3132	200	13	panel	panel	NOUN
fsr-3132	200	14	c	c	PROPN
fsr-3132	200	15	of	of	ADP
fsr-3132	200	16	table	table	NOUN
fsr-3132	200	17	3	3	NUM
fsr-3132	200	18	.	.	PUNCT
fsr-3132	201	1	if	if	SCONJ
fsr-3132	201	2	our	our	PRON
fsr-3132	201	3	investor	investor	NOUN
fsr-3132	201	4	is	be	AUX
fsr-3132	201	5	still	still	ADV
fsr-3132	201	6	neutral	neutral	ADJ
fsr-3132	201	7	towards	towards	ADP
fsr-3132	201	8	risk	risk	NOUN
fsr-3132	201	9	when	when	SCONJ
fsr-3132	201	10	she	she	PRON
fsr-3132	201	11	starts	start	VERB
fsr-3132	201	12	saving	save	VERB
fsr-3132	201	13	for	for	ADP
fsr-3132	201	14	retirement	retirement	NOUN
fsr-3132	201	15	and	and	CCONJ
fsr-3132	201	16	her	her	PRON
fsr-3132	201	17	risk	risk	NOUN
fsr-3132	201	18	aversion	aversion	NOUN
fsr-3132	201	19	reaches	reach	VERB
fsr-3132	201	20	the	the	DET
fsr-3132	201	21	level	level	NOUN
fsr-3132	201	22	of	of	ADP
fsr-3132	201	23	4	4	NUM
fsr-3132	201	24	when	when	SCONJ
fsr-3132	201	25	she	she	PRON
fsr-3132	201	26	retires	retire	VERB
fsr-3132	201	27	,	,	PUNCT
fsr-3132	201	28	she	she	PRON
fsr-3132	201	29	is	be	AUX
fsr-3132	201	30	still	still	ADV
fsr-3132	201	31	better	well	ADJ
fsr-3132	201	32	off	off	ADP
fsr-3132	201	33	with	with	ADP
fsr-3132	201	34	the	the	DET
fsr-3132	201	35	lifecycle	lifecycle	NOUN
fsr-3132	201	36	portfolio	portfolio	NOUN
fsr-3132	201	37	strategy	strategy	NOUN
fsr-3132	201	38	.	.	PUNCT
fsr-3132	202	1	among	among	ADP
fsr-3132	202	2	the	the	DET
fsr-3132	202	3	more	more	ADV
fsr-3132	202	4	common	common	ADJ
fsr-3132	202	5	lifecycle	lifecycle	NOUN
fsr-3132	202	6	strategies	strategy	NOUN
fsr-3132	202	7	the	the	DET
fsr-3132	202	8	highest	high	ADJ
fsr-3132	202	9	expected	expect	VERB
fsr-3132	202	10	utility	utility	NOUN
fsr-3132	202	11	is	be	AUX
fsr-3132	202	12	reached	reach	VERB
fsr-3132	202	13	with	with	ADP
fsr-3132	202	14	the	the	DET
fsr-3132	202	15	original	original	ADJ
fsr-3132	202	16	glide	glide	NOUN
fsr-3132	202	17	path	path	NOUN
fsr-3132	202	18	strategy	strategy	NOUN
fsr-3132	202	19	from	from	ADP
fsr-3132	202	20	90	90	NUM
fsr-3132	202	21	%	%	NOUN
fsr-3132	202	22	equity	equity	NOUN
fsr-3132	202	23	to	to	ADP
fsr-3132	202	24	40	40	NUM
fsr-3132	202	25	%	%	NOUN
fsr-3132	202	26	equity	equity	NOUN
fsr-3132	202	27	.	.	PUNCT
fsr-3132	203	1	this	this	DET
fsr-3132	203	2	strategy	strategy	NOUN
fsr-3132	203	3	would	would	AUX
fsr-3132	203	4	yield	yield	VERB
fsr-3132	203	5	our	our	PRON
fsr-3132	203	6	investor	investor	NOUN
fsr-3132	203	7	a	a	DET
fsr-3132	203	8	total	total	ADJ
fsr-3132	203	9	accumulation	accumulation	NOUN
fsr-3132	203	10	period	period	NOUN
fsr-3132	203	11	expected	expect	VERB
fsr-3132	203	12	utility	utility	NOUN
fsr-3132	203	13	that	that	PRON
fsr-3132	203	14	is	be	AUX
fsr-3132	203	15	1.7	1.7	NUM
fsr-3132	203	16	%	%	NOUN
fsr-3132	203	17	higher	high	ADJ
fsr-3132	203	18	than	than	ADP
fsr-3132	203	19	the	the	DET
fsr-3132	203	20	utility	utility	NOUN
fsr-3132	203	21	from	from	ADP
fsr-3132	203	22	the	the	DET
fsr-3132	203	23	best	good	ADJ
fsr-3132	203	24	lifestyle	lifestyle	NOUN
fsr-3132	203	25	strategy	strategy	NOUN
fsr-3132	203	26	,	,	PUNCT
fsr-3132	203	27	which	which	PRON
fsr-3132	203	28	has	have	VERB
fsr-3132	203	29	55	55	NUM
fsr-3132	203	30	%	%	NOUN
fsr-3132	203	31	on	on	ADP
fsr-3132	203	32	equity	equity	NOUN
fsr-3132	203	33	.	.	PUNCT
fsr-3132	204	1	for	for	ADP
fsr-3132	204	2	the	the	DET
fsr-3132	204	3	investor	investor	NOUN
fsr-3132	204	4	who	who	PRON
fsr-3132	204	5	has	have	VERB
fsr-3132	204	6	high	high	ADJ
fsr-3132	204	7	risk	risk	NOUN
fsr-3132	204	8	tolerance	tolerance	NOUN
fsr-3132	204	9	20	20	NUM
fsr-3132	204	10	years	year	NOUN
fsr-3132	204	11	before	before	ADP
fsr-3132	204	12	the	the	DET
fsr-3132	204	13	target	target	NOUN
fsr-3132	204	14	retirement	retirement	NOUN
fsr-3132	204	15	,	,	PUNCT
fsr-3132	204	16	the	the	DET
fsr-3132	204	17	tdfs	tdfs	NOUN
fsr-3132	204	18	that	that	PRON
fsr-3132	204	19	have	have	AUX
fsr-3132	204	20	decreased	decrease	VERB
fsr-3132	204	21	the	the	DET
fsr-3132	204	22	level	level	NOUN
fsr-3132	204	23	of	of	ADP
fsr-3132	204	24	equity	equity	NOUN
fsr-3132	204	25	to	to	ADP
fsr-3132	204	26	55	55	NUM
fsr-3132	204	27	%	%	NOUN
fsr-3132	204	28	or	or	CCONJ
fsr-3132	204	29	less	less	ADJ
fsr-3132	204	30	may	may	AUX
fsr-3132	204	31	be	be	AUX
fsr-3132	204	32	too	too	ADV
fsr-3132	204	33	conservative	conservative	ADJ
fsr-3132	204	34	.	.	PUNCT
fsr-3132	205	1	starting	start	VERB
fsr-3132	205	2	out	out	ADP
fsr-3132	205	3	with	with	ADP
fsr-3132	205	4	relatively	relatively	ADV
fsr-3132	205	5	high	high	ADJ
fsr-3132	205	6	equity	equity	NOUN
fsr-3132	205	7	level	level	NOUN
fsr-3132	205	8	179r.p	179r.p	NOUN
fsr-3132	205	9	.	.	PUNCT
fsr-3132	206	1	chang	chang	PROPN
fsr-3132	206	2	et	et	PROPN
fsr-3132	206	3	al	al	PROPN
fsr-3132	206	4	.	.	PUNCT
fsr-3132	206	5	/	/	SYM
fsr-3132	206	6	financial	financial	ADJ
fsr-3132	206	7	services	service	NOUN
fsr-3132	206	8	review	review	VERB
fsr-3132	206	9	23	23	NUM
fsr-3132	206	10	(	(	PUNCT
fsr-3132	206	11	2014	2014	NUM
fsr-3132	206	12	)	)	PUNCT
fsr-3132	206	13	169–188	169–188	NUM
fsr-3132	206	14	at	at	ADP
fsr-3132	206	15	20	20	NUM
fsr-3132	206	16	years	year	NOUN
fsr-3132	206	17	before	before	SCONJ
fsr-3132	206	18	target	target	NOUN
fsr-3132	206	19	retirement	retirement	NOUN
fsr-3132	206	20	might	might	AUX
fsr-3132	206	21	help	help	VERB
fsr-3132	206	22	the	the	DET
fsr-3132	206	23	investor	investor	NOUN
fsr-3132	206	24	to	to	PART
fsr-3132	206	25	catch	catch	VERB
fsr-3132	206	26	up	up	ADP
fsr-3132	206	27	a	a	DET
fsr-3132	206	28	little	little	ADJ
fsr-3132	206	29	with	with	ADP
fsr-3132	206	30	the	the	DET
fsr-3132	206	31	lost	lost	ADJ
fsr-3132	206	32	years	year	NOUN
fsr-3132	206	33	of	of	ADP
fsr-3132	206	34	capital	capital	NOUN
fsr-3132	206	35	accumulation	accumulation	NOUN
fsr-3132	206	36	.	.	PUNCT
fsr-3132	207	1	however	however	ADV
fsr-3132	207	2	,	,	PUNCT
fsr-3132	207	3	it	it	PRON
fsr-3132	207	4	is	be	AUX
fsr-3132	207	5	important	important	ADJ
fsr-3132	207	6	to	to	PART
fsr-3132	207	7	keep	keep	VERB
fsr-3132	207	8	in	in	ADP
fsr-3132	207	9	mind	mind	NOUN
fsr-3132	207	10	that	that	SCONJ
fsr-3132	207	11	in	in	ADP
fsr-3132	207	12	case	case	NOUN
fsr-3132	207	13	of	of	ADP
fsr-3132	207	14	periods	period	NOUN
fsr-3132	207	15	of	of	ADP
fsr-3132	207	16	bear	bear	NOUN
fsr-3132	207	17	markets	market	NOUN
fsr-3132	207	18	investors	investor	NOUN
fsr-3132	207	19	have	have	VERB
fsr-3132	207	20	less	less	ADJ
fsr-3132	207	21	time	time	NOUN
fsr-3132	207	22	left	leave	VERB
fsr-3132	207	23	to	to	PART
fsr-3132	207	24	recover	recover	VERB
fsr-3132	207	25	the	the	DET
fsr-3132	207	26	losses	loss	NOUN
fsr-3132	207	27	.	.	PUNCT
fsr-3132	208	1	less	less	ADJ
fsr-3132	208	2	risk	risk	NOUN
fsr-3132	208	3	tolerant	tolerant	ADJ
fsr-3132	208	4	investors	investor	NOUN
fsr-3132	208	5	may	may	AUX
fsr-3132	208	6	now	now	ADV
fsr-3132	208	7	find	find	VERB
fsr-3132	208	8	that	that	SCONJ
fsr-3132	208	9	for	for	ADP
fsr-3132	208	10	a	a	DET
fsr-3132	208	11	suitable	suitable	ADJ
fsr-3132	208	12	tdf	tdf	NOUN
fsr-3132	208	13	at	at	ADP
fsr-3132	208	14	20	20	NUM
fsr-3132	208	15	years	year	NOUN
fsr-3132	208	16	before	before	ADP
fsr-3132	208	17	the	the	DET
fsr-3132	208	18	target	target	NOUN
fsr-3132	208	19	year	year	NOUN
fsr-3132	208	20	the	the	DET
fsr-3132	208	21	level	level	NOUN
fsr-3132	208	22	of	of	ADP
fsr-3132	208	23	equity	equity	NOUN
fsr-3132	208	24	has	have	VERB
fsr-3132	208	25	to	to	PART
fsr-3132	208	26	decrease	decrease	VERB
fsr-3132	208	27	sufficiently	sufficiently	ADV
fsr-3132	208	28	.	.	PUNCT
fsr-3132	209	1	for	for	ADP
fsr-3132	209	2	example	example	NOUN
fsr-3132	209	3	,	,	PUNCT
fsr-3132	209	4	less	less	ADJ
fsr-3132	209	5	risk	risk	VERB
fsr-3132	209	6	tolerant	tolerant	ADJ
fsr-3132	209	7	investor	investor	NOUN
fsr-3132	209	8	with	with	ADP
fsr-3132	209	9	risk	risk	NOUN
fsr-3132	209	10	aversion	aversion	NOUN
fsr-3132	209	11	changing	change	VERB
fsr-3132	209	12	from	from	ADP
fsr-3132	209	13	2	2	NUM
fsr-3132	209	14	to	to	ADP
fsr-3132	209	15	6	6	NUM
fsr-3132	209	16	over	over	ADP
fsr-3132	209	17	her	her	PRON
fsr-3132	209	18	20	20	NUM
fsr-3132	209	19	-	-	PUNCT
fsr-3132	209	20	year	year	NOUN
fsr-3132	209	21	accumulation	accumulation	NOUN
fsr-3132	209	22	period	period	NOUN
fsr-3132	209	23	will	will	AUX
fsr-3132	209	24	benefit	benefit	VERB
fsr-3132	209	25	from	from	ADP
fsr-3132	209	26	the	the	DET
fsr-3132	209	27	conservative	conservative	ADJ
fsr-3132	209	28	lifecycle	lifecycle	NOUN
fsr-3132	209	29	strategy	strategy	NOUN
fsr-3132	209	30	with	with	ADP
fsr-3132	209	31	the	the	DET
fsr-3132	209	32	glide	glide	ADJ
fsr-3132	209	33	path	path	NOUN
fsr-3132	209	34	from	from	ADP
fsr-3132	209	35	50	50	NUM
fsr-3132	209	36	%	%	NOUN
fsr-3132	209	37	equity	equity	NOUN
fsr-3132	209	38	to	to	ADP
fsr-3132	209	39	20	20	NUM
fsr-3132	209	40	%	%	NOUN
fsr-3132	209	41	equity	equity	NOUN
fsr-3132	209	42	.	.	PUNCT
fsr-3132	210	1	it	it	PRON
fsr-3132	210	2	provides	provide	VERB
fsr-3132	210	3	significantly	significantly	ADV
fsr-3132	210	4	higher	high	ADJ
fsr-3132	210	5	expected	expect	VERB
fsr-3132	210	6	utility	utility	NOUN
fsr-3132	210	7	than	than	ADP
fsr-3132	210	8	that	that	PRON
fsr-3132	210	9	of	of	ADP
fsr-3132	210	10	the	the	DET
fsr-3132	210	11	best	good	ADJ
fsr-3132	210	12	performing	perform	VERB
fsr-3132	210	13	lifestyle	lifestyle	NOUN
fsr-3132	210	14	strategy	strategy	NOUN
fsr-3132	210	15	(	(	PUNCT
fsr-3132	210	16	with	with	ADP
fsr-3132	210	17	35	35	NUM
fsr-3132	210	18	%	%	NOUN
fsr-3132	210	19	equity	equity	NOUN
fsr-3132	210	20	)	)	PUNCT
fsr-3132	210	21	.	.	PUNCT
fsr-3132	211	1	this	this	DET
fsr-3132	211	2	lifecycle	lifecycle	NOUN
fsr-3132	211	3	strategy	strategy	NOUN
fsr-3132	211	4	starts	start	VERB
fsr-3132	211	5	out	out	ADP
fsr-3132	211	6	at	at	ADP
fsr-3132	211	7	70	70	NUM
fsr-3132	211	8	%	%	NOUN
fsr-3132	211	9	equity	equity	NOUN
fsr-3132	211	10	40	40	NUM
fsr-3132	211	11	years	year	NOUN
fsr-3132	211	12	from	from	ADP
fsr-3132	211	13	the	the	DET
fsr-3132	211	14	target	target	NOUN
fsr-3132	211	15	date	date	NOUN
fsr-3132	211	16	and	and	CCONJ
fsr-3132	211	17	reaches	reach	VERB
fsr-3132	211	18	around	around	ADV
fsr-3132	211	19	50	50	NUM
fsr-3132	211	20	%	%	NOUN
fsr-3132	211	21	level	level	NOUN
fsr-3132	211	22	20	20	NUM
fsr-3132	211	23	years	year	NOUN
fsr-3132	211	24	before	before	ADP
fsr-3132	211	25	the	the	DET
fsr-3132	211	26	target	target	NOUN
fsr-3132	211	27	date	date	NOUN
fsr-3132	211	28	.	.	PUNCT
fsr-3132	212	1	when	when	SCONJ
fsr-3132	212	2	the	the	DET
fsr-3132	212	3	investor	investor	NOUN
fsr-3132	212	4	postpones	postpone	VERB
fsr-3132	212	5	making	make	VERB
fsr-3132	212	6	contributions	contribution	NOUN
fsr-3132	212	7	to	to	ADP
fsr-3132	212	8	her	her	PRON
fsr-3132	212	9	retirement	retirement	NOUN
fsr-3132	212	10	account	account	NOUN
fsr-3132	212	11	even	even	ADV
fsr-3132	212	12	more	more	ADV
fsr-3132	212	13	and	and	CCONJ
fsr-3132	212	14	the	the	DET
fsr-3132	212	15	accumulation	accumulation	NOUN
fsr-3132	212	16	period	period	NOUN
fsr-3132	212	17	is	be	AUX
fsr-3132	212	18	only	only	ADV
fsr-3132	212	19	10	10	NUM
fsr-3132	212	20	years	year	NOUN
fsr-3132	212	21	,	,	PUNCT
fsr-3132	212	22	the	the	DET
fsr-3132	212	23	glide	glide	ADJ
fsr-3132	212	24	paths	path	NOUN
fsr-3132	212	25	of	of	ADP
fsr-3132	212	26	lifecycle	lifecycle	NOUN
fsr-3132	212	27	strategies	strategy	NOUN
fsr-3132	212	28	have	have	AUX
fsr-3132	212	29	brought	bring	VERB
fsr-3132	212	30	the	the	DET
fsr-3132	212	31	equity	equity	NOUN
fsr-3132	212	32	level	level	NOUN
fsr-3132	212	33	down	down	ADP
fsr-3132	212	34	very	very	ADV
fsr-3132	212	35	close	close	ADV
fsr-3132	212	36	to	to	ADP
fsr-3132	212	37	the	the	DET
fsr-3132	212	38	level	level	NOUN
fsr-3132	212	39	at	at	ADP
fsr-3132	212	40	the	the	DET
fsr-3132	212	41	target	target	NOUN
fsr-3132	212	42	date	date	NOUN
fsr-3132	212	43	.	.	PUNCT
fsr-3132	213	1	we	we	PRON
fsr-3132	213	2	find	find	VERB
fsr-3132	213	3	,	,	PUNCT
fsr-3132	213	4	though	though	ADV
fsr-3132	213	5	,	,	PUNCT
fsr-3132	213	6	from	from	ADP
fsr-3132	213	7	panel	panel	NOUN
fsr-3132	213	8	d	d	PROPN
fsr-3132	213	9	of	of	ADP
fsr-3132	213	10	table	table	NOUN
fsr-3132	213	11	3	3	NUM
fsr-3132	213	12	that	that	PRON
fsr-3132	213	13	for	for	ADP
fsr-3132	213	14	our	our	PRON
fsr-3132	213	15	representative	representative	ADJ
fsr-3132	213	16	investor	investor	NOUN
fsr-3132	213	17	who	who	PRON
fsr-3132	213	18	is	be	AUX
fsr-3132	213	19	risk	risk	NOUN
fsr-3132	213	20	-	-	PUNCT
fsr-3132	213	21	neutral	neutral	ADJ
fsr-3132	213	22	when	when	SCONJ
fsr-3132	213	23	she	she	PRON
fsr-3132	213	24	starts	start	VERB
fsr-3132	213	25	investing	invest	VERB
fsr-3132	213	26	towards	towards	ADP
fsr-3132	213	27	retirement	retirement	NOUN
fsr-3132	213	28	and	and	CCONJ
fsr-3132	213	29	reaches	reach	VERB
fsr-3132	213	30	a	a	DET
fsr-3132	213	31	risk	risk	NOUN
fsr-3132	213	32	aversion	aversion	NOUN
fsr-3132	213	33	level	level	NOUN
fsr-3132	213	34	of	of	ADP
fsr-3132	213	35	4	4	NUM
fsr-3132	213	36	at	at	ADP
fsr-3132	213	37	the	the	DET
fsr-3132	213	38	retirement	retirement	NOUN
fsr-3132	213	39	date	date	NOUN
fsr-3132	213	40	,	,	PUNCT
fsr-3132	213	41	the	the	DET
fsr-3132	213	42	lifecycle	lifecycle	NOUN
fsr-3132	213	43	strategy	strategy	NOUN
fsr-3132	213	44	with	with	ADP
fsr-3132	213	45	the	the	DET
fsr-3132	213	46	original	original	ADJ
fsr-3132	213	47	glide	glide	NOUN
fsr-3132	213	48	path	path	NOUN
fsr-3132	213	49	from	from	ADP
fsr-3132	213	50	100	100	NUM
fsr-3132	213	51	%	%	NOUN
fsr-3132	213	52	equity	equity	NOUN
fsr-3132	213	53	to	to	ADP
fsr-3132	213	54	25	25	NUM
fsr-3132	213	55	%	%	NOUN
fsr-3132	213	56	equity	equity	NOUN
fsr-3132	213	57	yield	yield	NOUN
fsr-3132	213	58	the	the	DET
fsr-3132	213	59	highest	high	ADJ
fsr-3132	213	60	expected	expect	VERB
fsr-3132	213	61	utility	utility	NOUN
fsr-3132	213	62	that	that	PRON
fsr-3132	213	63	is	be	AUX
fsr-3132	213	64	5.0	5.0	NUM
fsr-3132	213	65	%	%	NOUN
fsr-3132	213	66	higher	high	ADJ
fsr-3132	213	67	than	than	ADP
fsr-3132	213	68	utility	utility	NOUN
fsr-3132	213	69	from	from	ADP
fsr-3132	213	70	55	55	NUM
fsr-3132	213	71	%	%	NOUN
fsr-3132	213	72	equity	equity	NOUN
fsr-3132	213	73	lifestyle	lifestyle	NOUN
fsr-3132	213	74	strategy	strategy	NOUN
fsr-3132	213	75	that	that	PRON
fsr-3132	213	76	yields	yield	VERB
fsr-3132	213	77	utility	utility	NOUN
fsr-3132	213	78	of	of	ADP
fsr-3132	213	79	0.941	0.941	NUM
fsr-3132	213	80	and	and	CCONJ
fsr-3132	213	81	the	the	DET
fsr-3132	213	82	difference	difference	NOUN
fsr-3132	213	83	is	be	AUX
fsr-3132	213	84	significant	significant	ADJ
fsr-3132	213	85	at	at	ADP
fsr-3132	213	86	the	the	DET
fsr-3132	213	87	1	1	NUM
fsr-3132	213	88	%	%	NOUN
fsr-3132	213	89	level	level	NOUN
fsr-3132	213	90	.	.	PUNCT
fsr-3132	214	1	it	it	PRON
fsr-3132	214	2	is	be	AUX
fsr-3132	214	3	interesting	interesting	ADJ
fsr-3132	214	4	to	to	PART
fsr-3132	214	5	note	note	VERB
fsr-3132	214	6	that	that	SCONJ
fsr-3132	214	7	even	even	ADV
fsr-3132	214	8	the	the	DET
fsr-3132	214	9	more	more	ADJ
fsr-3132	214	10	risk	risk	NOUN
fsr-3132	214	11	averse	averse	ADJ
fsr-3132	214	12	investors	investor	NOUN
fsr-3132	214	13	with	with	ADP
fsr-3132	214	14	risk	risk	NOUN
fsr-3132	214	15	aversion	aversion	NOUN
fsr-3132	214	16	increasing	increase	VERB
fsr-3132	214	17	from	from	ADP
fsr-3132	214	18	2	2	NUM
fsr-3132	214	19	to	to	ADP
fsr-3132	214	20	6	6	NUM
fsr-3132	214	21	by	by	ADP
fsr-3132	214	22	the	the	DET
fsr-3132	214	23	target	target	NOUN
fsr-3132	214	24	year	year	NOUN
fsr-3132	214	25	may	may	AUX
fsr-3132	214	26	now	now	ADV
fsr-3132	214	27	reach	reach	VERB
fsr-3132	214	28	higher	high	ADJ
fsr-3132	214	29	utility	utility	NOUN
fsr-3132	214	30	with	with	ADP
fsr-3132	214	31	some	some	PRON
fsr-3132	214	32	of	of	ADP
fsr-3132	214	33	the	the	DET
fsr-3132	214	34	common	common	ADJ
fsr-3132	214	35	tdfs	tdfs	NOUN
fsr-3132	214	36	as	as	SCONJ
fsr-3132	214	37	they	they	PRON
fsr-3132	214	38	have	have	AUX
fsr-3132	214	39	decreased	decrease	VERB
fsr-3132	214	40	the	the	DET
fsr-3132	214	41	level	level	NOUN
fsr-3132	214	42	of	of	ADP
fsr-3132	214	43	equity	equity	NOUN
fsr-3132	214	44	sufficiently	sufficiently	ADV
fsr-3132	214	45	.	.	PUNCT
fsr-3132	215	1	for	for	ADP
fsr-3132	215	2	example	example	NOUN
fsr-3132	215	3	the	the	DET
fsr-3132	215	4	tdf	tdf	NOUN
fsr-3132	215	5	with	with	ADP
fsr-3132	215	6	the	the	DET
fsr-3132	215	7	original	original	ADJ
fsr-3132	215	8	glide	glide	NOUN
fsr-3132	215	9	path	path	NOUN
fsr-3132	215	10	from	from	ADP
fsr-3132	215	11	90	90	NUM
fsr-3132	215	12	%	%	NOUN
fsr-3132	215	13	equity	equity	NOUN
fsr-3132	215	14	to	to	ADP
fsr-3132	215	15	20	20	NUM
fsr-3132	215	16	%	%	NOUN
fsr-3132	215	17	has	have	AUX
fsr-3132	215	18	reached	reach	VERB
fsr-3132	215	19	an	an	DET
fsr-3132	215	20	approximate	approximate	ADJ
fsr-3132	215	21	equity	equity	NOUN
fsr-3132	215	22	level	level	NOUN
fsr-3132	215	23	of	of	ADP
fsr-3132	215	24	40	40	NUM
fsr-3132	215	25	%	%	NOUN
fsr-3132	215	26	10	10	NUM
fsr-3132	215	27	years	year	NOUN
fsr-3132	215	28	before	before	ADP
fsr-3132	215	29	the	the	DET
fsr-3132	215	30	target	target	NOUN
fsr-3132	215	31	date	date	NOUN
fsr-3132	215	32	.	.	PUNCT
fsr-3132	216	1	over	over	ADP
fsr-3132	216	2	the	the	DET
fsr-3132	216	3	10	10	NUM
fsr-3132	216	4	year	year	NOUN
fsr-3132	216	5	accumulation	accumulation	NOUN
fsr-3132	216	6	period	period	NOUN
fsr-3132	216	7	this	this	DET
fsr-3132	216	8	strategy	strategy	NOUN
fsr-3132	216	9	would	would	AUX
fsr-3132	216	10	yield	yield	VERB
fsr-3132	216	11	our	our	PRON
fsr-3132	216	12	investor	investor	NOUN
fsr-3132	216	13	0.5	0.5	NUM
fsr-3132	216	14	%	%	NOUN
fsr-3132	216	15	higher	high	ADJ
fsr-3132	216	16	utility	utility	NOUN
fsr-3132	216	17	than	than	ADP
fsr-3132	216	18	the	the	DET
fsr-3132	216	19	fixed	fix	VERB
fsr-3132	216	20	30	30	NUM
fsr-3132	216	21	%	%	NOUN
fsr-3132	216	22	equity	equity	NOUN
fsr-3132	216	23	portfolio	portfolio	NOUN
fsr-3132	216	24	,	,	PUNCT
fsr-3132	216	25	which	which	PRON
fsr-3132	216	26	is	be	AUX
fsr-3132	216	27	the	the	DET
fsr-3132	216	28	best	good	ADJ
fsr-3132	216	29	lifestyle	lifestyle	NOUN
fsr-3132	216	30	strategy	strategy	NOUN
fsr-3132	216	31	.	.	PUNCT
fsr-3132	217	1	3.2	3.2	NUM
fsr-3132	217	2	.	.	PUNCT
fsr-3132	217	3	expected	expect	VERB
fsr-3132	217	4	utility	utility	NOUN
fsr-3132	217	5	of	of	ADP
fsr-3132	217	6	the	the	DET
fsr-3132	217	7	loss	loss	NOUN
fsr-3132	217	8	averse	averse	ADJ
fsr-3132	217	9	investor	investor	NOUN
fsr-3132	217	10	with	with	ADP
fsr-3132	217	11	different	different	ADJ
fsr-3132	217	12	accumulation	accumulation	NOUN
fsr-3132	217	13	periods	period	NOUN
fsr-3132	217	14	prior	prior	ADJ
fsr-3132	217	15	research	research	NOUN
fsr-3132	217	16	has	have	AUX
fsr-3132	217	17	concluded	conclude	VERB
fsr-3132	217	18	that	that	SCONJ
fsr-3132	217	19	investors	investor	NOUN
fsr-3132	217	20	have	have	VERB
fsr-3132	217	21	different	different	ADJ
fsr-3132	217	22	attitude	attitude	NOUN
fsr-3132	217	23	towards	towards	ADP
fsr-3132	217	24	downside	downside	ADJ
fsr-3132	217	25	risk	risk	NOUN
fsr-3132	217	26	,	,	PUNCT
fsr-3132	217	27	thus	thus	ADV
fsr-3132	217	28	,	,	PUNCT
fsr-3132	217	29	they	they	PRON
fsr-3132	217	30	are	be	AUX
fsr-3132	217	31	more	more	ADV
fsr-3132	217	32	sensitive	sensitive	ADJ
fsr-3132	217	33	to	to	ADP
fsr-3132	217	34	the	the	DET
fsr-3132	217	35	negative	negative	ADJ
fsr-3132	217	36	changes	change	NOUN
fsr-3132	217	37	to	to	ADP
fsr-3132	217	38	their	their	PRON
fsr-3132	217	39	wealth	wealth	NOUN
fsr-3132	217	40	.	.	PUNCT
fsr-3132	218	1	table	table	NOUN
fsr-3132	218	2	4	4	NUM
fsr-3132	218	3	summarizes	summarize	VERB
fsr-3132	218	4	the	the	DET
fsr-3132	218	5	results	result	NOUN
fsr-3132	218	6	for	for	ADP
fsr-3132	218	7	the	the	DET
fsr-3132	218	8	analysis	analysis	NOUN
fsr-3132	218	9	that	that	PRON
fsr-3132	218	10	uses	use	VERB
fsr-3132	218	11	eq	eq	NOUN
fsr-3132	218	12	.	.	PUNCT
fsr-3132	219	1	(	(	PUNCT
fsr-3132	219	2	5	5	NUM
fsr-3132	219	3	)	)	PUNCT
fsr-3132	219	4	that	that	PRON
fsr-3132	219	5	incorporates	incorporate	VERB
fsr-3132	219	6	the	the	DET
fsr-3132	219	7	representative	representative	ADJ
fsr-3132	219	8	investor	investor	NOUN
fsr-3132	219	9	’s	’s	PART
fsr-3132	219	10	loss	loss	NOUN
fsr-3132	219	11	aversion	aversion	NOUN
fsr-3132	219	12	in	in	ADP
fsr-3132	219	13	our	our	PRON
fsr-3132	219	14	model	model	NOUN
fsr-3132	219	15	.	.	PUNCT
fsr-3132	220	1	similar	similar	ADJ
fsr-3132	220	2	to	to	ADP
fsr-3132	220	3	table	table	NOUN
fsr-3132	220	4	3	3	NUM
fsr-3132	220	5	,	,	PUNCT
fsr-3132	220	6	in	in	ADP
fsr-3132	220	7	table	table	NOUN
fsr-3132	220	8	4	4	NUM
fsr-3132	220	9	we	we	PRON
fsr-3132	220	10	assume	assume	VERB
fsr-3132	220	11	an	an	DET
fsr-3132	220	12	accumulation	accumulation	NOUN
fsr-3132	220	13	period	period	NOUN
fsr-3132	220	14	of	of	ADP
fsr-3132	220	15	40	40	NUM
fsr-3132	220	16	,	,	PUNCT
fsr-3132	220	17	30	30	NUM
fsr-3132	220	18	,	,	PUNCT
fsr-3132	220	19	20	20	NUM
fsr-3132	220	20	,	,	PUNCT
fsr-3132	220	21	or	or	CCONJ
fsr-3132	220	22	10	10	NUM
fsr-3132	220	23	years	year	NOUN
fsr-3132	220	24	and	and	CCONJ
fsr-3132	220	25	the	the	DET
fsr-3132	220	26	total	total	ADJ
fsr-3132	220	27	expected	expected	ADJ
fsr-3132	220	28	utility	utility	NOUN
fsr-3132	220	29	is	be	AUX
fsr-3132	220	30	calculated	calculate	VERB
fsr-3132	220	31	as	as	ADP
fsr-3132	220	32	the	the	DET
fsr-3132	220	33	sum	sum	NOUN
fsr-3132	220	34	of	of	ADP
fsr-3132	220	35	the	the	DET
fsr-3132	220	36	present	present	ADJ
fsr-3132	220	37	value	value	NOUN
fsr-3132	220	38	of	of	ADP
fsr-3132	220	39	monthly	monthly	ADJ
fsr-3132	220	40	utilities	utility	NOUN
fsr-3132	220	41	over	over	ADP
fsr-3132	220	42	the	the	DET
fsr-3132	220	43	different	different	ADJ
fsr-3132	220	44	accumulation	accumulation	NOUN
fsr-3132	220	45	periods	period	NOUN
fsr-3132	220	46	.	.	PUNCT
fsr-3132	221	1	in	in	ADP
fsr-3132	221	2	case	case	NOUN
fsr-3132	221	3	the	the	DET
fsr-3132	221	4	representative	representative	ADJ
fsr-3132	221	5	investor	investor	NOUN
fsr-3132	221	6	’s	’s	PART
fsr-3132	221	7	portfolio	portfolio	NOUN
fsr-3132	221	8	strategy	strategy	NOUN
fsr-3132	221	9	yields	yield	VERB
fsr-3132	221	10	a	a	DET
fsr-3132	221	11	loss	loss	NOUN
fsr-3132	221	12	during	during	ADP
fsr-3132	221	13	the	the	DET
fsr-3132	221	14	given	give	VERB
fsr-3132	221	15	month	month	NOUN
fsr-3132	221	16	,	,	PUNCT
fsr-3132	221	17	the	the	DET
fsr-3132	221	18	investor	investor	NOUN
fsr-3132	221	19	is	be	AUX
fsr-3132	221	20	assumed	assume	VERB
fsr-3132	221	21	to	to	PART
fsr-3132	221	22	be	be	AUX
fsr-3132	221	23	more	more	ADJ
fsr-3132	221	24	risk	risk	NOUN
fsr-3132	221	25	averse	averse	ADJ
fsr-3132	221	26	the	the	DET
fsr-3132	221	27	next	next	ADJ
fsr-3132	221	28	month	month	NOUN
fsr-3132	221	29	.	.	PUNCT
fsr-3132	222	1	we	we	PRON
fsr-3132	222	2	use	use	VERB
fsr-3132	222	3	the	the	DET
fsr-3132	222	4	loss	loss	NOUN
fsr-3132	222	5	aversion	aversion	NOUN
fsr-3132	222	6	of	of	ADP
fsr-3132	222	7	2.25	2.25	NUM
fsr-3132	222	8	as	as	SCONJ
fsr-3132	222	9	suggested	suggest	VERB
fsr-3132	222	10	by	by	ADP
fsr-3132	222	11	tversky	tversky	NOUN
fsr-3132	222	12	and	and	CCONJ
fsr-3132	222	13	kahneman	kahneman	NOUN
fsr-3132	222	14	(	(	PUNCT
fsr-3132	222	15	1992	1992	NUM
fsr-3132	222	16	)	)	PUNCT
fsr-3132	222	17	.	.	PUNCT
fsr-3132	223	1	panel	panel	NOUN
fsr-3132	223	2	a	a	DET
fsr-3132	223	3	in	in	ADP
fsr-3132	223	4	table	table	NOUN
fsr-3132	223	5	4	4	NUM
fsr-3132	223	6	shows	show	VERB
fsr-3132	223	7	that	that	SCONJ
fsr-3132	223	8	for	for	ADP
fsr-3132	223	9	the	the	DET
fsr-3132	223	10	loss	loss	NOUN
fsr-3132	223	11	averse	averse	ADJ
fsr-3132	223	12	investor	investor	NOUN
fsr-3132	223	13	who	who	PRON
fsr-3132	223	14	is	be	AUX
fsr-3132	223	15	risk	risk	NOUN
fsr-3132	223	16	-	-	PUNCT
fsr-3132	223	17	neutral	neutral	ADJ
fsr-3132	223	18	when	when	SCONJ
fsr-3132	223	19	she	she	PRON
fsr-3132	223	20	starts	start	VERB
fsr-3132	223	21	contributing	contribute	VERB
fsr-3132	223	22	towards	towards	ADP
fsr-3132	223	23	the	the	DET
fsr-3132	223	24	retirement	retirement	NOUN
fsr-3132	223	25	portfolio	portfolio	NOUN
fsr-3132	223	26	and	and	CCONJ
fsr-3132	223	27	has	have	VERB
fsr-3132	223	28	a	a	DET
fsr-3132	223	29	40	40	NUM
fsr-3132	223	30	year	year	NOUN
fsr-3132	223	31	accumulation	accumulation	NOUN
fsr-3132	223	32	period	period	NOUN
fsr-3132	223	33	,	,	PUNCT
fsr-3132	223	34	moderate	moderate	ADJ
fsr-3132	223	35	lifecycle	lifecycle	NOUN
fsr-3132	223	36	strategies	strategy	NOUN
fsr-3132	223	37	yield	yield	VERB
fsr-3132	223	38	higher	high	ADJ
fsr-3132	223	39	expected	expect	VERB
fsr-3132	223	40	lifetime	lifetime	NOUN
fsr-3132	223	41	utility	utility	NOUN
fsr-3132	223	42	than	than	ADP
fsr-3132	223	43	the	the	DET
fsr-3132	223	44	lifestyle	lifestyle	NOUN
fsr-3132	223	45	strategies	strategy	NOUN
fsr-3132	223	46	.	.	PUNCT
fsr-3132	224	1	specifically	specifically	ADV
fsr-3132	224	2	for	for	ADP
fsr-3132	224	3	the	the	DET
fsr-3132	224	4	risk	risk	NOUN
fsr-3132	224	5	-	-	PUNCT
fsr-3132	224	6	neutral	neutral	ADJ
fsr-3132	224	7	investor	investor	NOUN
fsr-3132	224	8	who	who	PRON
fsr-3132	224	9	reaches	reach	VERB
fsr-3132	224	10	a	a	DET
fsr-3132	224	11	risk	risk	NOUN
fsr-3132	224	12	aversion	aversion	NOUN
fsr-3132	224	13	of	of	ADP
fsr-3132	224	14	4	4	NUM
fsr-3132	224	15	by	by	ADP
fsr-3132	224	16	the	the	DET
fsr-3132	224	17	target	target	NOUN
fsr-3132	224	18	year	year	NOUN
fsr-3132	224	19	,	,	PUNCT
fsr-3132	224	20	the	the	DET
fsr-3132	224	21	best	good	ADJ
fsr-3132	224	22	portfolio	portfolio	NOUN
fsr-3132	224	23	strategy	strategy	NOUN
fsr-3132	224	24	is	be	AUX
fsr-3132	224	25	the	the	DET
fsr-3132	224	26	lifecycle	lifecycle	NOUN
fsr-3132	224	27	portfolio	portfolio	NOUN
fsr-3132	224	28	with	with	ADP
fsr-3132	224	29	the	the	DET
fsr-3132	224	30	glide	glide	ADJ
fsr-3132	224	31	path	path	NOUN
fsr-3132	224	32	from	from	ADP
fsr-3132	224	33	90	90	NUM
fsr-3132	224	34	%	%	NOUN
fsr-3132	224	35	equity	equity	NOUN
fsr-3132	224	36	to	to	ADP
fsr-3132	224	37	20	20	NUM
fsr-3132	224	38	%	%	NOUN
fsr-3132	224	39	equity	equity	NOUN
fsr-3132	224	40	.	.	PUNCT
fsr-3132	225	1	such	such	DET
fsr-3132	225	2	a	a	DET
fsr-3132	225	3	portfolio	portfolio	NOUN
fsr-3132	225	4	strategy	strategy	NOUN
fsr-3132	225	5	will	will	AUX
fsr-3132	225	6	yield	yield	VERB
fsr-3132	225	7	her	she	PRON
fsr-3132	225	8	a	a	DET
fsr-3132	225	9	total	total	ADJ
fsr-3132	225	10	accumulation	accumulation	NOUN
fsr-3132	225	11	period	period	NOUN
fsr-3132	225	12	expected	expect	VERB
fsr-3132	225	13	utility	utility	NOUN
fsr-3132	225	14	that	that	PRON
fsr-3132	225	15	is	be	AUX
fsr-3132	225	16	1.6	1.6	NUM
fsr-3132	225	17	%	%	NOUN
fsr-3132	225	18	higher	high	ADJ
fsr-3132	225	19	than	than	ADP
fsr-3132	225	20	that	that	PRON
fsr-3132	225	21	from	from	ADP
fsr-3132	225	22	the	the	DET
fsr-3132	225	23	45	45	NUM
fsr-3132	225	24	%	%	NOUN
fsr-3132	225	25	equity	equity	NOUN
fsr-3132	225	26	lifestyle	lifestyle	PROPN
fsr-3132	225	27	portfolio	portfolio	NOUN
fsr-3132	225	28	,	,	PUNCT
fsr-3132	225	29	and	and	CCONJ
fsr-3132	225	30	the	the	DET
fsr-3132	225	31	difference	difference	NOUN
fsr-3132	225	32	is	be	AUX
fsr-3132	225	33	statistically	statistically	ADV
fsr-3132	225	34	significant	significant	ADJ
fsr-3132	225	35	at	at	ADP
fsr-3132	225	36	the	the	DET
fsr-3132	225	37	1	1	NUM
fsr-3132	225	38	%	%	NOUN
fsr-3132	225	39	level	level	NOUN
fsr-3132	225	40	.	.	PUNCT
fsr-3132	226	1	the	the	DET
fsr-3132	226	2	more	more	ADV
fsr-3132	226	3	common	common	ADJ
fsr-3132	226	4	tdf	tdf	NOUN
fsr-3132	226	5	strategies	strategy	NOUN
fsr-3132	226	6	,	,	PUNCT
fsr-3132	226	7	except	except	SCONJ
fsr-3132	226	8	the	the	DET
fsr-3132	226	9	180	180	NUM
fsr-3132	226	10	r.p	r.p	PROPN
fsr-3132	226	11	.	.	PUNCT
fsr-3132	226	12	chang	chang	PROPN
fsr-3132	226	13	et	et	PROPN
fsr-3132	226	14	al	al	PROPN
fsr-3132	226	15	.	.	PUNCT
fsr-3132	226	16	/	/	SYM
fsr-3132	226	17	financial	financial	ADJ
fsr-3132	226	18	services	service	NOUN
fsr-3132	226	19	review	review	VERB
fsr-3132	226	20	23	23	NUM
fsr-3132	226	21	(	(	PUNCT
fsr-3132	226	22	2014	2014	NUM
fsr-3132	226	23	)	)	PUNCT
fsr-3132	226	24	169–188	169–188	NUM
fsr-3132	226	25	aggressive	aggressive	ADJ
fsr-3132	226	26	glide	glide	NOUN
fsr-3132	226	27	path	path	NOUN
fsr-3132	226	28	from	from	ADP
fsr-3132	226	29	90	90	NUM
fsr-3132	226	30	%	%	NOUN
fsr-3132	226	31	to	to	PART
fsr-3132	226	32	50	50	NUM
fsr-3132	226	33	%	%	NOUN
fsr-3132	226	34	all	all	PRON
fsr-3132	226	35	outperform	outperform	VERB
fsr-3132	226	36	the	the	DET
fsr-3132	226	37	lifestyle	lifestyle	NOUN
fsr-3132	226	38	strategies	strategy	NOUN
fsr-3132	226	39	in	in	ADP
fsr-3132	226	40	terms	term	NOUN
fsr-3132	226	41	of	of	ADP
fsr-3132	226	42	expected	expect	VERB
fsr-3132	226	43	utility	utility	NOUN
fsr-3132	226	44	.	.	PUNCT
fsr-3132	227	1	for	for	ADP
fsr-3132	227	2	the	the	DET
fsr-3132	227	3	investor	investor	NOUN
fsr-3132	227	4	who	who	PRON
fsr-3132	227	5	is	be	AUX
fsr-3132	227	6	more	more	ADJ
fsr-3132	227	7	risk	risk	NOUN
fsr-3132	227	8	-	-	PUNCT
fsr-3132	227	9	averse	averse	ADJ
fsr-3132	227	10	when	when	SCONJ
fsr-3132	227	11	she	she	PRON
fsr-3132	227	12	is	be	AUX
fsr-3132	227	13	young	young	ADJ
fsr-3132	227	14	and	and	CCONJ
fsr-3132	227	15	has	have	VERB
fsr-3132	227	16	a	a	DET
fsr-3132	227	17	risk	risk	NOUN
fsr-3132	227	18	aversion	aversion	NOUN
fsr-3132	227	19	of	of	ADP
fsr-3132	227	20	at	at	ADV
fsr-3132	227	21	least	least	ADV
fsr-3132	227	22	2	2	NUM
fsr-3132	227	23	when	when	SCONJ
fsr-3132	227	24	she	she	PRON
fsr-3132	227	25	starts	start	VERB
fsr-3132	227	26	investing	invest	VERB
fsr-3132	227	27	towards	towards	ADP
fsr-3132	227	28	retirement	retirement	NOUN
fsr-3132	227	29	and	and	CCONJ
fsr-3132	227	30	reached	reach	VERB
fsr-3132	227	31	risk	risk	NOUN
fsr-3132	227	32	aversion	aversion	NOUN
fsr-3132	227	33	level	level	NOUN
fsr-3132	227	34	of	of	ADP
fsr-3132	227	35	4	4	NUM
fsr-3132	227	36	by	by	ADP
fsr-3132	227	37	retirement	retirement	NOUN
fsr-3132	227	38	the	the	DET
fsr-3132	227	39	lifecycle	lifecycle	NOUN
fsr-3132	227	40	strategy	strategy	NOUN
fsr-3132	227	41	with	with	ADP
fsr-3132	227	42	equity	equity	NOUN
fsr-3132	227	43	decreasing	decrease	VERB
fsr-3132	227	44	from	from	ADP
fsr-3132	227	45	50	50	NUM
fsr-3132	227	46	%	%	NOUN
fsr-3132	227	47	to	to	PART
fsr-3132	227	48	25	25	NUM
fsr-3132	227	49	%	%	NOUN
fsr-3132	227	50	over	over	ADP
fsr-3132	227	51	the	the	DET
fsr-3132	227	52	accumulation	accumulation	NOUN
fsr-3132	227	53	period	period	NOUN
fsr-3132	227	54	,	,	PUNCT
fsr-3132	227	55	yields	yield	VERB
fsr-3132	227	56	the	the	DET
fsr-3132	227	57	highest	high	ADJ
fsr-3132	227	58	expected	expect	VERB
fsr-3132	227	59	utility	utility	NOUN
fsr-3132	227	60	.	.	PUNCT
fsr-3132	228	1	the	the	DET
fsr-3132	228	2	more	more	ADV
fsr-3132	228	3	common	common	ADJ
fsr-3132	228	4	lifecycle	lifecycle	NOUN
fsr-3132	228	5	strategies	strategy	NOUN
fsr-3132	228	6	fail	fail	VERB
fsr-3132	228	7	to	to	PART
fsr-3132	228	8	outperform	outperform	VERB
fsr-3132	228	9	the	the	DET
fsr-3132	228	10	35	35	NUM
fsr-3132	228	11	%	%	NOUN
fsr-3132	228	12	equity	equity	NOUN
fsr-3132	228	13	lifestyle	lifestyle	NOUN
fsr-3132	228	14	strategy	strategy	NOUN
fsr-3132	228	15	.	.	PUNCT
fsr-3132	229	1	the	the	DET
fsr-3132	229	2	investor	investor	NOUN
fsr-3132	229	3	needs	need	VERB
fsr-3132	229	4	a	a	DET
fsr-3132	229	5	more	more	ADV
fsr-3132	229	6	conservative	conservative	ADJ
fsr-3132	229	7	glide	glide	NOUN
fsr-3132	229	8	path	path	NOUN
fsr-3132	229	9	.	.	PUNCT
fsr-3132	230	1	as	as	SCONJ
fsr-3132	230	2	suggested	suggest	VERB
fsr-3132	230	3	before	before	ADV
fsr-3132	230	4	,	,	PUNCT
fsr-3132	230	5	this	this	PRON
fsr-3132	230	6	can	can	AUX
fsr-3132	230	7	be	be	AUX
fsr-3132	230	8	accomplished	accomplish	VERB
fsr-3132	230	9	if	if	SCONJ
fsr-3132	230	10	our	our	PRON
fsr-3132	230	11	investor	investor	NOUN
fsr-3132	230	12	picks	pick	VERB
fsr-3132	230	13	a	a	DET
fsr-3132	230	14	tdf	tdf	NOUN
fsr-3132	230	15	with	with	ADP
fsr-3132	230	16	the	the	DET
fsr-3132	230	17	target	target	NOUN
fsr-3132	230	18	date	date	NOUN
fsr-3132	230	19	closer	close	ADV
fsr-3132	230	20	to	to	ADP
fsr-3132	230	21	today	today	NOUN
fsr-3132	230	22	than	than	ADP
fsr-3132	230	23	her	her	PRON
fsr-3132	230	24	desired	desire	VERB
fsr-3132	230	25	retirement	retirement	NOUN
fsr-3132	230	26	year	year	NOUN
fsr-3132	230	27	.	.	PUNCT
fsr-3132	231	1	as	as	SCONJ
fsr-3132	231	2	the	the	DET
fsr-3132	231	3	main	main	ADJ
fsr-3132	231	4	target	target	NOUN
fsr-3132	231	5	investor	investor	NOUN
fsr-3132	231	6	of	of	ADP
fsr-3132	231	7	tdfs	tdfs	NOUN
fsr-3132	231	8	is	be	AUX
fsr-3132	231	9	the	the	DET
fsr-3132	231	10	investor	investor	NOUN
fsr-3132	231	11	who	who	PRON
fsr-3132	231	12	fails	fail	VERB
fsr-3132	231	13	to	to	PART
fsr-3132	231	14	pick	pick	VERB
fsr-3132	231	15	the	the	DET
fsr-3132	231	16	fund	fund	NOUN
fsr-3132	231	17	herself	herself	PRON
fsr-3132	231	18	,	,	PUNCT
fsr-3132	231	19	it	it	PRON
fsr-3132	231	20	would	would	AUX
fsr-3132	231	21	be	be	AUX
fsr-3132	231	22	more	more	ADV
fsr-3132	231	23	important	important	ADJ
fsr-3132	231	24	that	that	SCONJ
fsr-3132	231	25	fund	fund	NOUN
fsr-3132	231	26	families	family	NOUN
fsr-3132	231	27	should	should	AUX
fsr-3132	231	28	start	start	VERB
fsr-3132	231	29	to	to	PART
fsr-3132	231	30	offer	offer	VERB
fsr-3132	231	31	tdfs	tdfs	NOUN
fsr-3132	231	32	with	with	ADP
fsr-3132	231	33	more	more	ADV
fsr-3132	231	34	conservative	conservative	ADJ
fsr-3132	231	35	glide	glide	ADJ
fsr-3132	231	36	paths	path	NOUN
fsr-3132	231	37	.	.	PUNCT
fsr-3132	232	1	we	we	PRON
fsr-3132	232	2	find	find	VERB
fsr-3132	232	3	that	that	SCONJ
fsr-3132	232	4	even	even	ADV
fsr-3132	232	5	when	when	SCONJ
fsr-3132	232	6	the	the	DET
fsr-3132	232	7	loss	loss	NOUN
fsr-3132	232	8	averse	averse	ADJ
fsr-3132	232	9	investor	investor	NOUN
fsr-3132	232	10	postpones	postpone	VERB
fsr-3132	232	11	making	make	VERB
fsr-3132	232	12	contributions	contribution	NOUN
fsr-3132	232	13	into	into	ADP
fsr-3132	232	14	the	the	DET
fsr-3132	232	15	retirement	retirement	NOUN
fsr-3132	232	16	account	account	NOUN
fsr-3132	232	17	,	,	PUNCT
fsr-3132	232	18	conservative	conservative	ADJ
fsr-3132	232	19	lifecycle	lifecycle	NOUN
fsr-3132	232	20	strategies	strategy	NOUN
fsr-3132	232	21	yield	yield	VERB
fsr-3132	232	22	higher	high	ADJ
fsr-3132	232	23	expected	expect	VERB
fsr-3132	232	24	utility	utility	NOUN
fsr-3132	232	25	but	but	CCONJ
fsr-3132	232	26	the	the	DET
fsr-3132	232	27	table	table	NOUN
fsr-3132	232	28	4	4	NUM
fsr-3132	232	29	total	total	ADJ
fsr-3132	232	30	accumulation	accumulation	NOUN
fsr-3132	232	31	period	period	NOUN
fsr-3132	232	32	expected	expect	VERB
fsr-3132	232	33	utility	utility	NOUN
fsr-3132	232	34	for	for	ADP
fsr-3132	232	35	the	the	DET
fsr-3132	232	36	loss	loss	NOUN
fsr-3132	232	37	averse	averse	ADJ
fsr-3132	232	38	investor	investor	NOUN
fsr-3132	232	39	risk	risk	NOUN
fsr-3132	232	40	aversion	aversion	NOUN
fsr-3132	232	41	best	good	ADJ
fsr-3132	232	42	lifestyle	lifestyle	NOUN
fsr-3132	232	43	strategy	strategy	NOUN
fsr-3132	232	44	lifecycle	lifecycle	NOUN
fsr-3132	232	45	strategies	strategy	NOUN
fsr-3132	232	46	best	good	ADJ
fsr-3132	232	47	theoretical	theoretical	ADJ
fsr-3132	232	48	lifecycle	lifecycle	NOUN
fsr-3132	232	49	strategy	strategy	NOUN
fsr-3132	232	50	e(u	e(u	PROPN
fsr-3132	232	51	)	)	PUNCT
fsr-3132	232	52	equity	equity	NOUN
fsr-3132	232	53	90	90	NUM
fsr-3132	232	54	to	to	PART
fsr-3132	232	55	50	50	NUM
fsr-3132	232	56	90	90	NUM
fsr-3132	232	57	to	to	PART
fsr-3132	232	58	40	40	NUM
fsr-3132	232	59	90	90	NUM
fsr-3132	232	60	to	to	PART
fsr-3132	232	61	30	30	NUM
fsr-3132	232	62	90	90	NUM
fsr-3132	232	63	to	to	PART
fsr-3132	232	64	20	20	NUM
fsr-3132	232	65	80	80	NUM
fsr-3132	232	66	to	to	PART
fsr-3132	232	67	40	40	NUM
fsr-3132	232	68	80	80	NUM
fsr-3132	232	69	to	to	PART
fsr-3132	232	70	30	30	NUM
fsr-3132	232	71	80	80	NUM
fsr-3132	232	72	to	to	PART
fsr-3132	232	73	20	20	NUM
fsr-3132	232	74	glide	glide	NOUN
fsr-3132	232	75	path	path	NOUN
fsr-3132	232	76	t	t	PROPN
fsr-3132	232	77	-	-	PUNCT
fsr-3132	232	78	stat	stat	PROPN
fsr-3132	232	79	panel	panel	NOUN
fsr-3132	232	80	a	a	DET
fsr-3132	232	81	:	:	SYM
fsr-3132	232	82	40	40	NUM
fsr-3132	232	83	year	year	NOUN
fsr-3132	232	84	investment	investment	NOUN
fsr-3132	232	85	horizon	horizon	NOUN
fsr-3132	232	86	0	0	NUM
fsr-3132	232	87	to	to	ADP
fsr-3132	232	88	4	4	NUM
fsr-3132	232	89	2.679	2.679	NUM
fsr-3132	232	90	45	45	NUM
fsr-3132	232	91	%	%	NOUN
fsr-3132	232	92	�	�	NOUN
fsr-3132	232	93	1.1	1.1	NUM
fsr-3132	232	94	%	%	NOUN
fsr-3132	232	95	0.2	0.2	NUM
fsr-3132	232	96	%	%	NOUN
fsr-3132	232	97	1.2	1.2	NUM
fsr-3132	232	98	%	%	NOUN
fsr-3132	232	99	1.6	1.6	NUM
fsr-3132	232	100	%	%	NOUN
fsr-3132	232	101	0.5	0.5	NUM
fsr-3132	232	102	%	%	NOUN
fsr-3132	232	103	1.4	1.4	NUM
fsr-3132	232	104	%	%	NOUN
fsr-3132	232	105	1.6	1.6	NUM
fsr-3132	232	106	%	%	NOUN
fsr-3132	232	107	1.6	1.6	NUM
fsr-3132	232	108	%	%	NOUN
fsr-3132	232	109	90	90	NUM
fsr-3132	232	110	to	to	PART
fsr-3132	232	111	20	20	NUM
fsr-3132	232	112	7.20	7.20	NUM
fsr-3132	232	113	*	*	PUNCT
fsr-3132	232	114	*	*	NOUN
fsr-3132	232	115	0	0	NUM
fsr-3132	232	116	to	to	ADP
fsr-3132	232	117	6	6	NUM
fsr-3132	232	118	2.540	2.540	NUM
fsr-3132	232	119	35	35	NUM
fsr-3132	232	120	%	%	NOUN
fsr-3132	232	121	�	�	NOUN
fsr-3132	232	122	6.0	6.0	NUM
fsr-3132	232	123	%	%	NOUN
fsr-3132	232	124	�	�	NOUN
fsr-3132	232	125	3.3	3.3	NUM
fsr-3132	232	126	%	%	NOUN
fsr-3132	232	127	�	�	NOUN
fsr-3132	232	128	1.1	1.1	NUM
fsr-3132	232	129	%	%	NOUN
fsr-3132	232	130	0.2	0.2	NUM
fsr-3132	232	131	%	%	NOUN
fsr-3132	232	132	�	�	PROPN
fsr-3132	232	133	2.2	2.2	NUM
fsr-3132	232	134	%	%	NOUN
fsr-3132	232	135	�	�	NOUN
fsr-3132	232	136	0.2	0.2	NUM
fsr-3132	232	137	%	%	NOUN
fsr-3132	232	138	0.9	0.9	NUM
fsr-3132	232	139	%	%	NOUN
fsr-3132	232	140	1.2	1.2	NUM
fsr-3132	232	141	%	%	NOUN
fsr-3132	232	142	60	60	NUM
fsr-3132	232	143	to	to	PART
fsr-3132	232	144	20	20	NUM
fsr-3132	232	145	10.77	10.77	NUM
fsr-3132	232	146	*	*	PUNCT
fsr-3132	232	147	*	*	SYM
fsr-3132	232	148	2	2	NUM
fsr-3132	232	149	to	to	ADP
fsr-3132	232	150	4	4	NUM
fsr-3132	232	151	2.523	2.523	NUM
fsr-3132	232	152	35	35	NUM
fsr-3132	232	153	%	%	NOUN
fsr-3132	232	154	�	�	NOUN
fsr-3132	232	155	11.6	11.6	NUM
fsr-3132	232	156	%	%	NOUN
fsr-3132	232	157	�	�	NOUN
fsr-3132	232	158	9.2	9.2	NUM
fsr-3132	232	159	%	%	NOUN
fsr-3132	232	160	�	�	NOUN
fsr-3132	232	161	7.4	7.4	NUM
fsr-3132	232	162	%	%	NOUN
fsr-3132	232	163	�	�	NOUN
fsr-3132	232	164	6.1	6.1	NUM
fsr-3132	232	165	%	%	NOUN
fsr-3132	232	166	�	�	NOUN
fsr-3132	232	167	6.6	6.6	NUM
fsr-3132	232	168	%	%	NOUN
fsr-3132	232	169	�	�	NOUN
fsr-3132	232	170	4.8	4.8	NUM
fsr-3132	232	171	%	%	NOUN
fsr-3132	232	172	�	�	NOUN
fsr-3132	232	173	3.9	3.9	NUM
fsr-3132	232	174	%	%	NOUN
fsr-3132	232	175	0.2	0.2	NUM
fsr-3132	232	176	%	%	NOUN
fsr-3132	232	177	50	50	NUM
fsr-3132	232	178	to	to	PART
fsr-3132	232	179	25	25	NUM
fsr-3132	232	180	1.01	1.01	NUM
fsr-3132	232	181	2	2	NUM
fsr-3132	232	182	to	to	ADP
fsr-3132	232	183	6	6	NUM
fsr-3132	232	184	2.395	2.395	NUM
fsr-3132	232	185	30	30	NUM
fsr-3132	232	186	%	%	NOUN
fsr-3132	232	187	�	�	NOUN
fsr-3132	232	188	17.9	17.9	NUM
fsr-3132	232	189	%	%	NOUN
fsr-3132	232	190	�	�	NOUN
fsr-3132	232	191	13.9	13.9	NUM
fsr-3132	232	192	%	%	NOUN
fsr-3132	232	193	�	�	NOUN
fsr-3132	232	194	10.8	10.8	NUM
fsr-3132	232	195	%	%	NOUN
fsr-3132	232	196	�	�	NOUN
fsr-3132	232	197	8.5	8.5	NUM
fsr-3132	232	198	%	%	NOUN
fsr-3132	232	199	�	�	PROPN
fsr-3132	232	200	10.3	10.3	NUM
fsr-3132	232	201	%	%	NOUN
fsr-3132	232	202	�	�	NOUN
fsr-3132	232	203	7.3	7.3	NUM
fsr-3132	232	204	%	%	NOUN
fsr-3132	232	205	�	�	NOUN
fsr-3132	232	206	5.4	5.4	NUM
fsr-3132	232	207	%	%	NOUN
fsr-3132	232	208	0.1	0.1	NUM
fsr-3132	232	209	%	%	NOUN
fsr-3132	232	210	45	45	NUM
fsr-3132	232	211	to	to	PART
fsr-3132	232	212	25	25	NUM
fsr-3132	232	213	0.25	0.25	NUM
fsr-3132	232	214	panel	panel	NOUN
fsr-3132	232	215	b	b	NOUN
fsr-3132	232	216	:	:	PUNCT
fsr-3132	232	217	30	30	NUM
fsr-3132	232	218	year	year	NOUN
fsr-3132	232	219	investment	investment	NOUN
fsr-3132	232	220	horizon	horizon	NOUN
fsr-3132	232	221	80	80	NUM
fsr-3132	232	222	%	%	NOUN
fsr-3132	232	223	80	80	NUM
fsr-3132	232	224	%	%	NOUN
fsr-3132	232	225	75	75	NUM
fsr-3132	232	226	%	%	NOUN
fsr-3132	232	227	70	70	NUM
fsr-3132	232	228	%	%	NOUN
fsr-3132	232	229	70	70	NUM
fsr-3132	232	230	%	%	NOUN
fsr-3132	232	231	70	70	NUM
fsr-3132	232	232	%	%	NOUN
fsr-3132	232	233	65	65	NUM
fsr-3132	232	234	%	%	NOUN
fsr-3132	232	235	0	0	NUM
fsr-3132	232	236	to	to	ADP
fsr-3132	232	237	4	4	NUM
fsr-3132	232	238	1.703	1.703	NUM
fsr-3132	232	239	40	40	NUM
fsr-3132	232	240	%	%	NOUN
fsr-3132	232	241	�	�	NOUN
fsr-3132	232	242	1.0	1.0	NUM
fsr-3132	232	243	%	%	NOUN
fsr-3132	232	244	0.3	0.3	NUM
fsr-3132	232	245	%	%	NOUN
fsr-3132	232	246	1.1	1.1	NUM
fsr-3132	232	247	%	%	NOUN
fsr-3132	232	248	1.3	1.3	NUM
fsr-3132	232	249	%	%	NOUN
fsr-3132	232	250	0.4	0.4	NUM
fsr-3132	232	251	%	%	NOUN
fsr-3132	232	252	1.2	1.2	NUM
fsr-3132	232	253	%	%	NOUN
fsr-3132	232	254	1.1	1.1	NUM
fsr-3132	232	255	%	%	NOUN
fsr-3132	232	256	1.3	1.3	NUM
fsr-3132	232	257	%	%	NOUN
fsr-3132	232	258	90	90	NUM
fsr-3132	232	259	to	to	PART
fsr-3132	232	260	20	20	NUM
fsr-3132	232	261	4.59	4.59	NUM
fsr-3132	232	262	*	*	PUNCT
fsr-3132	232	263	*	*	NOUN
fsr-3132	232	264	0	0	NUM
fsr-3132	232	265	to	to	ADP
fsr-3132	232	266	6	6	NUM
fsr-3132	232	267	1.611	1.611	NUM
fsr-3132	232	268	35	35	NUM
fsr-3132	232	269	%	%	NOUN
fsr-3132	232	270	�	�	NOUN
fsr-3132	232	271	5.3	5.3	NUM
fsr-3132	232	272	%	%	NOUN
fsr-3132	232	273	�	�	NOUN
fsr-3132	232	274	2.4	2.4	NUM
fsr-3132	232	275	%	%	NOUN
fsr-3132	232	276	�	�	NOUN
fsr-3132	232	277	0.3	0.3	NUM
fsr-3132	232	278	%	%	NOUN
fsr-3132	232	279	0.8	0.8	NUM
fsr-3132	232	280	%	%	NOUN
fsr-3132	232	281	�	�	PROPN
fsr-3132	232	282	1.7	1.7	NUM
fsr-3132	232	283	%	%	NOUN
fsr-3132	232	284	0.3	0.3	NUM
fsr-3132	232	285	%	%	NOUN
fsr-3132	232	286	1.0	1.0	NUM
fsr-3132	232	287	%	%	NOUN
fsr-3132	232	288	1.0	1.0	NUM
fsr-3132	232	289	%	%	NOUN
fsr-3132	232	290	70	70	NUM
fsr-3132	232	291	to	to	PART
fsr-3132	232	292	20	20	NUM
fsr-3132	232	293	3.36	3.36	NUM
fsr-3132	232	294	*	*	PUNCT
fsr-3132	232	295	*	*	SYM
fsr-3132	232	296	2	2	NUM
fsr-3132	232	297	to	to	ADP
fsr-3132	232	298	4	4	NUM
fsr-3132	232	299	1.610	1.610	NUM
fsr-3132	232	300	35	35	NUM
fsr-3132	232	301	%	%	NOUN
fsr-3132	232	302	�	�	NOUN
fsr-3132	232	303	8.3	8.3	NUM
fsr-3132	232	304	%	%	NOUN
fsr-3132	232	305	�	�	PROPN
fsr-3132	232	306	5.6	5.6	NUM
fsr-3132	232	307	%	%	NOUN
fsr-3132	232	308	�	�	NOUN
fsr-3132	232	309	3.6	3.6	NUM
fsr-3132	232	310	%	%	NOUN
fsr-3132	232	311	�	�	NOUN
fsr-3132	232	312	2.3	2.3	NUM
fsr-3132	232	313	%	%	NOUN
fsr-3132	232	314	�	�	NOUN
fsr-3132	232	315	4.0	4.0	NUM
fsr-3132	232	316	%	%	NOUN
fsr-3132	232	317	�	�	NOUN
fsr-3132	232	318	2.1	2.1	NUM
fsr-3132	232	319	%	%	NOUN
fsr-3132	232	320	�	�	NOUN
fsr-3132	232	321	1.2	1.2	NUM
fsr-3132	232	322	%	%	NOUN
fsr-3132	232	323	0.2	0.2	NUM
fsr-3132	232	324	%	%	NOUN
fsr-3132	232	325	50	50	NUM
fsr-3132	232	326	to	to	PART
fsr-3132	232	327	25	25	NUM
fsr-3132	232	328	1.10	1.10	NUM
fsr-3132	232	329	2	2	NUM
fsr-3132	232	330	to	to	ADP
fsr-3132	232	331	6	6	NUM
fsr-3132	232	332	1.525	1.525	NUM
fsr-3132	232	333	30	30	NUM
fsr-3132	232	334	%	%	NOUN
fsr-3132	232	335	�	�	NOUN
fsr-3132	232	336	13.7	13.7	NUM
fsr-3132	232	337	%	%	NOUN
fsr-3132	232	338	�	�	PROPN
fsr-3132	232	339	9.3	9.3	NUM
fsr-3132	232	340	%	%	NOUN
fsr-3132	232	341	�	�	PROPN
fsr-3132	232	342	5.8	5.8	NUM
fsr-3132	232	343	%	%	NOUN
fsr-3132	232	344	�	�	NOUN
fsr-3132	232	345	3.5	3.5	NUM
fsr-3132	232	346	%	%	NOUN
fsr-3132	232	347	�	�	NOUN
fsr-3132	232	348	7.0	7.0	NUM
fsr-3132	232	349	%	%	NOUN
fsr-3132	232	350	�	�	PROPN
fsr-3132	232	351	3.7	3.7	NUM
fsr-3132	232	352	%	%	NOUN
fsr-3132	232	353	�	�	NOUN
fsr-3132	232	354	1.9	1.9	NUM
fsr-3132	232	355	%	%	NOUN
fsr-3132	232	356	0.2	0.2	NUM
fsr-3132	232	357	%	%	NOUN
fsr-3132	232	358	45	45	NUM
fsr-3132	232	359	to	to	PART
fsr-3132	232	360	25	25	NUM
fsr-3132	232	361	0.37	0.37	NUM
fsr-3132	232	362	panel	panel	NOUN
fsr-3132	232	363	c	c	NOUN
fsr-3132	232	364	:	:	PUNCT
fsr-3132	232	365	20	20	NUM
fsr-3132	232	366	year	year	NOUN
fsr-3132	232	367	investment	investment	NOUN
fsr-3132	232	368	horizon	horizon	NOUN
fsr-3132	232	369	70	70	NUM
fsr-3132	232	370	%	%	NOUN
fsr-3132	232	371	65	65	NUM
fsr-3132	232	372	%	%	NOUN
fsr-3132	232	373	60	60	NUM
fsr-3132	232	374	%	%	NOUN
fsr-3132	232	375	55	55	NUM
fsr-3132	232	376	%	%	NOUN
fsr-3132	232	377	60	60	NUM
fsr-3132	232	378	%	%	NOUN
fsr-3132	232	379	60	60	NUM
fsr-3132	232	380	%	%	NOUN
fsr-3132	232	381	50	50	NUM
fsr-3132	232	382	%	%	NOUN
fsr-3132	232	383	0	0	NUM
fsr-3132	232	384	to	to	ADP
fsr-3132	232	385	4	4	NUM
fsr-3132	232	386	1.072	1.072	NUM
fsr-3132	232	387	40	40	NUM
fsr-3132	232	388	%	%	NOUN
fsr-3132	232	389	�	�	NOUN
fsr-3132	232	390	0.9	0.9	NUM
fsr-3132	232	391	%	%	NOUN
fsr-3132	232	392	0.3	0.3	NUM
fsr-3132	232	393	%	%	NOUN
fsr-3132	232	394	1.0	1.0	NUM
fsr-3132	232	395	%	%	NOUN
fsr-3132	232	396	0.7	0.7	NUM
fsr-3132	232	397	%	%	NOUN
fsr-3132	232	398	0.4	0.4	NUM
fsr-3132	232	399	%	%	NOUN
fsr-3132	232	400	0.9	0.9	NUM
fsr-3132	232	401	%	%	NOUN
fsr-3132	232	402	0.4	0.4	NUM
fsr-3132	232	403	%	%	NOUN
fsr-3132	232	404	1.1	1.1	NUM
fsr-3132	232	405	%	%	NOUN
fsr-3132	232	406	80	80	NUM
fsr-3132	232	407	to	to	PART
fsr-3132	232	408	35	35	NUM
fsr-3132	232	409	2.31	2.31	NUM
fsr-3132	232	410	*	*	SYM
fsr-3132	232	411	0	0	NUM
fsr-3132	232	412	to	to	ADP
fsr-3132	232	413	6	6	NUM
fsr-3132	232	414	1.011	1.011	NUM
fsr-3132	232	415	35	35	NUM
fsr-3132	232	416	%	%	NOUN
fsr-3132	232	417	�	�	NOUN
fsr-3132	232	418	4.4	4.4	NUM
fsr-3132	232	419	%	%	NOUN
fsr-3132	232	420	�	�	NOUN
fsr-3132	232	421	1.5	1.5	NUM
fsr-3132	232	422	%	%	NOUN
fsr-3132	232	423	0.6	0.6	NUM
fsr-3132	232	424	%	%	NOUN
fsr-3132	232	425	1.1	1.1	NUM
fsr-3132	232	426	%	%	NOUN
fsr-3132	232	427	�	�	NOUN
fsr-3132	232	428	1.0	1.0	NUM
fsr-3132	232	429	%	%	NOUN
fsr-3132	232	430	0.8	0.8	NUM
fsr-3132	232	431	%	%	NOUN
fsr-3132	232	432	1.0	1.0	NUM
fsr-3132	232	433	%	%	NOUN
fsr-3132	232	434	1.2	1.2	NUM
fsr-3132	232	435	%	%	NOUN
fsr-3132	232	436	75	75	NUM
fsr-3132	232	437	to	to	PART
fsr-3132	232	438	35	35	NUM
fsr-3132	232	439	2.81	2.81	NUM
fsr-3132	232	440	*	*	PUNCT
fsr-3132	232	441	*	*	PROPN
fsr-3132	232	442	2	2	NUM
fsr-3132	232	443	to	to	ADP
fsr-3132	232	444	4	4	NUM
fsr-3132	232	445	1.014	1.014	NUM
fsr-3132	232	446	35	35	NUM
fsr-3132	232	447	%	%	NOUN
fsr-3132	232	448	�	�	NOUN
fsr-3132	232	449	5.6	5.6	NUM
fsr-3132	232	450	%	%	NOUN
fsr-3132	232	451	�	�	NOUN
fsr-3132	232	452	2.9	2.9	NUM
fsr-3132	232	453	%	%	NOUN
fsr-3132	232	454	�	�	PROPN
fsr-3132	232	455	0.9	0.9	NUM
fsr-3132	232	456	%	%	NOUN
fsr-3132	232	457	�	�	NOUN
fsr-3132	232	458	0.1	0.1	NUM
fsr-3132	232	459	%	%	NOUN
fsr-3132	232	460	�	�	NOUN
fsr-3132	232	461	2.2	2.2	NUM
fsr-3132	232	462	%	%	NOUN
fsr-3132	232	463	�	�	NOUN
fsr-3132	232	464	0.3	0.3	NUM
fsr-3132	232	465	%	%	NOUN
fsr-3132	232	466	0.1	0.1	NUM
fsr-3132	232	467	%	%	NOUN
fsr-3132	232	468	0.2	0.2	NUM
fsr-3132	232	469	%	%	NOUN
fsr-3132	232	470	50	50	NUM
fsr-3132	232	471	to	to	PART
fsr-3132	232	472	30	30	NUM
fsr-3132	232	473	2.33	2.33	NUM
fsr-3132	232	474	*	*	SYM
fsr-3132	232	475	2	2	NUM
fsr-3132	232	476	to	to	ADP
fsr-3132	232	477	6	6	NUM
fsr-3132	232	478	0.958	0.958	NUM
fsr-3132	232	479	30	30	NUM
fsr-3132	232	480	%	%	NOUN
fsr-3132	232	481	�	�	NOUN
fsr-3132	232	482	10.1	10.1	NUM
fsr-3132	232	483	%	%	NOUN
fsr-3132	232	484	�	�	NOUN
fsr-3132	232	485	5.5	5.5	NUM
fsr-3132	232	486	%	%	NOUN
fsr-3132	232	487	�	�	PROPN
fsr-3132	232	488	1.9	1.9	NUM
fsr-3132	232	489	%	%	NOUN
fsr-3132	232	490	�	�	NOUN
fsr-3132	232	491	0.2	0.2	NUM
fsr-3132	232	492	%	%	NOUN
fsr-3132	232	493	�	�	PROPN
fsr-3132	232	494	4.3	4.3	NUM
fsr-3132	232	495	%	%	NOUN
fsr-3132	232	496	�	�	PROPN
fsr-3132	232	497	1.1	1.1	NUM
fsr-3132	232	498	%	%	NOUN
fsr-3132	232	499	0.2	0.2	NUM
fsr-3132	232	500	%	%	NOUN
fsr-3132	232	501	0.3	0.3	NUM
fsr-3132	232	502	%	%	NOUN
fsr-3132	232	503	45	45	NUM
fsr-3132	232	504	to	to	PART
fsr-3132	232	505	25	25	NUM
fsr-3132	232	506	0.37	0.37	NUM
fsr-3132	232	507	panel	panel	NOUN
fsr-3132	233	1	d	d	NOUN
fsr-3132	233	2	:	:	PUNCT
fsr-3132	233	3	10	10	NUM
fsr-3132	233	4	year	year	NOUN
fsr-3132	233	5	investment	investment	NOUN
fsr-3132	233	6	horizon	horizon	NOUN
fsr-3132	233	7	60	60	NUM
fsr-3132	233	8	%	%	NOUN
fsr-3132	233	9	55	55	NUM
fsr-3132	233	10	%	%	NOUN
fsr-3132	233	11	45	45	NUM
fsr-3132	233	12	%	%	NOUN
fsr-3132	233	13	40	40	NUM
fsr-3132	233	14	%	%	NOUN
fsr-3132	233	15	50	50	NUM
fsr-3132	233	16	%	%	NOUN
fsr-3132	233	17	50	50	NUM
fsr-3132	233	18	%	%	NOUN
fsr-3132	233	19	35	35	NUM
fsr-3132	233	20	%	%	NOUN
fsr-3132	233	21	0	0	NUM
fsr-3132	233	22	to	to	ADP
fsr-3132	233	23	4	4	NUM
fsr-3132	233	24	0.559	0.559	NUM
fsr-3132	233	25	40	40	NUM
fsr-3132	233	26	%	%	NOUN
fsr-3132	233	27	�	�	NOUN
fsr-3132	233	28	0.8	0.8	NUM
fsr-3132	233	29	%	%	NOUN
fsr-3132	233	30	0.3	0.3	NUM
fsr-3132	233	31	%	%	NOUN
fsr-3132	233	32	0.4	0.4	NUM
fsr-3132	233	33	%	%	NOUN
fsr-3132	233	34	�	�	NOUN
fsr-3132	233	35	0.4	0.4	NUM
fsr-3132	233	36	%	%	NOUN
fsr-3132	233	37	0.3	0.3	NUM
fsr-3132	233	38	%	%	NOUN
fsr-3132	233	39	0.4	0.4	NUM
fsr-3132	233	40	%	%	NOUN
fsr-3132	233	41	�	�	NOUN
fsr-3132	233	42	0.6	0.6	NUM
fsr-3132	233	43	%	%	NOUN
fsr-3132	233	44	0.5	0.5	NUM
fsr-3132	233	45	%	%	NOUN
fsr-3132	233	46	80	80	NUM
fsr-3132	233	47	to	to	PART
fsr-3132	233	48	35	35	NUM
fsr-3132	233	49	2.68	2.68	NUM
fsr-3132	233	50	*	*	PUNCT
fsr-3132	233	51	*	*	SYM
fsr-3132	233	52	0	0	NUM
fsr-3132	233	53	to	to	ADP
fsr-3132	233	54	6	6	NUM
fsr-3132	233	55	0.525	0.525	NUM
fsr-3132	233	56	35	35	NUM
fsr-3132	233	57	%	%	NOUN
fsr-3132	233	58	�	�	NOUN
fsr-3132	233	59	3.8	3.8	NUM
fsr-3132	233	60	%	%	NOUN
fsr-3132	233	61	�	�	NOUN
fsr-3132	233	62	0.9	0.9	NUM
fsr-3132	233	63	%	%	NOUN
fsr-3132	233	64	0.7	0.7	NUM
fsr-3132	233	65	%	%	NOUN
fsr-3132	233	66	0.4	0.4	NUM
fsr-3132	233	67	%	%	NOUN
fsr-3132	233	68	�	�	NOUN
fsr-3132	233	69	0.8	0.8	NUM
fsr-3132	233	70	%	%	NOUN
fsr-3132	233	71	0.6	0.6	NUM
fsr-3132	233	72	%	%	NOUN
fsr-3132	233	73	0.2	0.2	NUM
fsr-3132	233	74	%	%	NOUN
fsr-3132	233	75	0.8	0.8	NUM
fsr-3132	233	76	%	%	NOUN
fsr-3132	233	77	75	75	NUM
fsr-3132	233	78	to	to	PART
fsr-3132	233	79	30	30	NUM
fsr-3132	233	80	3.09	3.09	NUM
fsr-3132	233	81	*	*	SYM
fsr-3132	233	82	*	*	PROPN
fsr-3132	233	83	2	2	NUM
fsr-3132	233	84	to	to	ADP
fsr-3132	233	85	4	4	NUM
fsr-3132	233	86	0.531	0.531	NUM
fsr-3132	233	87	35	35	NUM
fsr-3132	233	88	%	%	NOUN
fsr-3132	233	89	�	�	NOUN
fsr-3132	233	90	4.1	4.1	NUM
fsr-3132	233	91	%	%	NOUN
fsr-3132	233	92	�	�	NOUN
fsr-3132	233	93	1.2	1.2	NUM
fsr-3132	233	94	%	%	NOUN
fsr-3132	233	95	0.3	0.3	NUM
fsr-3132	233	96	%	%	NOUN
fsr-3132	233	97	0.0	0.0	NUM
fsr-3132	233	98	%	%	NOUN
fsr-3132	233	99	�	�	NOUN
fsr-3132	233	100	1.0	1.0	NUM
fsr-3132	233	101	%	%	NOUN
fsr-3132	233	102	0.3	0.3	NUM
fsr-3132	233	103	%	%	NOUN
fsr-3132	233	104	�	�	NOUN
fsr-3132	233	105	0.1	0.1	NUM
fsr-3132	233	106	%	%	NOUN
fsr-3132	233	107	0.4	0.4	NUM
fsr-3132	233	108	%	%	NOUN
fsr-3132	233	109	50	50	NUM
fsr-3132	233	110	to	to	PART
fsr-3132	233	111	30	30	NUM
fsr-3132	233	112	3.80	3.80	NUM
fsr-3132	233	113	*	*	PUNCT
fsr-3132	233	114	*	*	PROPN
fsr-3132	233	115	2	2	NUM
fsr-3132	233	116	to	to	ADP
fsr-3132	233	117	6	6	NUM
fsr-3132	233	118	0.500	0.500	NUM
fsr-3132	233	119	30	30	NUM
fsr-3132	233	120	%	%	NOUN
fsr-3132	233	121	�	�	NOUN
fsr-3132	233	122	8.2	8.2	NUM
fsr-3132	233	123	%	%	NOUN
fsr-3132	233	124	�	�	NOUN
fsr-3132	233	125	3.2	3.2	NUM
fsr-3132	233	126	%	%	NOUN
fsr-3132	233	127	�	�	NOUN
fsr-3132	233	128	0.2	0.2	NUM
fsr-3132	233	129	%	%	NOUN
fsr-3132	233	130	0.1	0.1	NUM
fsr-3132	233	131	%	%	NOUN
fsr-3132	233	132	�	�	NOUN
fsr-3132	233	133	2.8	2.8	NUM
fsr-3132	233	134	%	%	NOUN
fsr-3132	233	135	0.0	0.0	NUM
fsr-3132	233	136	%	%	NOUN
fsr-3132	233	137	0.2	0.2	NUM
fsr-3132	233	138	%	%	NOUN
fsr-3132	233	139	0.2	0.2	NUM
fsr-3132	233	140	%	%	NOUN
fsr-3132	233	141	45	45	NUM
fsr-3132	233	142	to	to	PART
fsr-3132	233	143	25	25	NUM
fsr-3132	233	144	0.45	0.45	NUM
fsr-3132	233	145	notes	note	NOUN
fsr-3132	233	146	.	.	PUNCT
fsr-3132	234	1	the	the	DET
fsr-3132	234	2	table	table	NOUN
fsr-3132	234	3	reports	report	VERB
fsr-3132	234	4	the	the	DET
fsr-3132	234	5	best	good	ADJ
fsr-3132	234	6	lifestyle	lifestyle	NOUN
fsr-3132	234	7	strategy	strategy	NOUN
fsr-3132	234	8	as	as	ADP
fsr-3132	234	9	a	a	DET
fsr-3132	234	10	benchmark	benchmark	NOUN
fsr-3132	234	11	for	for	ADP
fsr-3132	234	12	the	the	DET
fsr-3132	234	13	expected	expect	VERB
fsr-3132	234	14	utility	utility	NOUN
fsr-3132	234	15	(	(	PUNCT
fsr-3132	234	16	e(u	e(u	PROPN
fsr-3132	234	17	)	)	PUNCT
fsr-3132	234	18	)	)	PUNCT
fsr-3132	234	19	of	of	ADP
fsr-3132	234	20	the	the	DET
fsr-3132	234	21	lifecycle	lifecycle	NOUN
fsr-3132	234	22	strategies	strategy	NOUN
fsr-3132	234	23	.	.	PUNCT
fsr-3132	235	1	the	the	DET
fsr-3132	235	2	results	result	NOUN
fsr-3132	235	3	for	for	ADP
fsr-3132	235	4	the	the	DET
fsr-3132	235	5	lifecycle	lifecycle	NOUN
fsr-3132	235	6	strategies	strategy	NOUN
fsr-3132	235	7	are	be	AUX
fsr-3132	235	8	reported	report	VERB
fsr-3132	235	9	as	as	ADP
fsr-3132	235	10	a	a	DET
fsr-3132	235	11	percentage	percentage	NOUN
fsr-3132	235	12	difference	difference	NOUN
fsr-3132	235	13	from	from	ADP
fsr-3132	235	14	that	that	DET
fsr-3132	235	15	benchmark	benchmark	NOUN
fsr-3132	235	16	.	.	PUNCT
fsr-3132	236	1	the	the	DET
fsr-3132	236	2	last	last	ADJ
fsr-3132	236	3	three	three	NUM
fsr-3132	236	4	columns	column	NOUN
fsr-3132	236	5	compare	compare	VERB
fsr-3132	236	6	the	the	DET
fsr-3132	236	7	best	good	ADJ
fsr-3132	236	8	lifecycle	lifecycle	NOUN
fsr-3132	236	9	strategy	strategy	NOUN
fsr-3132	236	10	with	with	ADP
fsr-3132	236	11	the	the	DET
fsr-3132	236	12	best	good	ADJ
fsr-3132	236	13	lifestyle	lifestyle	NOUN
fsr-3132	236	14	strategy	strategy	NOUN
fsr-3132	236	15	by	by	ADP
fsr-3132	236	16	reporting	report	VERB
fsr-3132	236	17	the	the	DET
fsr-3132	236	18	percentage	percentage	NOUN
fsr-3132	236	19	difference	difference	NOUN
fsr-3132	236	20	,	,	PUNCT
fsr-3132	236	21	the	the	DET
fsr-3132	236	22	original	original	ADJ
fsr-3132	236	23	40	40	NUM
fsr-3132	236	24	year	year	NOUN
fsr-3132	236	25	glide	glide	NOUN
fsr-3132	236	26	path	path	NOUN
fsr-3132	236	27	(	(	PUNCT
fsr-3132	236	28	beginning	begin	VERB
fsr-3132	236	29	and	and	CCONJ
fsr-3132	236	30	ending	end	VERB
fsr-3132	236	31	level	level	NOUN
fsr-3132	236	32	of	of	ADP
fsr-3132	236	33	equity	equity	NOUN
fsr-3132	236	34	)	)	PUNCT
fsr-3132	236	35	,	,	PUNCT
fsr-3132	236	36	and	and	CCONJ
fsr-3132	236	37	the	the	DET
fsr-3132	236	38	t	t	PROPN
fsr-3132	236	39	-	-	PUNCT
fsr-3132	236	40	statistics	statistic	NOUN
fsr-3132	236	41	.	.	PUNCT
fsr-3132	237	1	*	*	PUNCT
fsr-3132	237	2	*	*	PUNCT
fsr-3132	237	3	and	and	CCONJ
fsr-3132	237	4	*	*	VERB
fsr-3132	237	5	denote	denote	NOUN
fsr-3132	237	6	significance	significance	NOUN
fsr-3132	237	7	at	at	ADP
fsr-3132	237	8	the	the	DET
fsr-3132	237	9	1	1	NUM
fsr-3132	237	10	%	%	NOUN
fsr-3132	237	11	and	and	CCONJ
fsr-3132	237	12	5	5	NUM
fsr-3132	237	13	%	%	NOUN
fsr-3132	237	14	levels	level	NOUN
fsr-3132	237	15	,	,	PUNCT
fsr-3132	237	16	respectively	respectively	ADV
fsr-3132	237	17	.	.	PUNCT
fsr-3132	238	1	results	result	NOUN
fsr-3132	238	2	for	for	ADP
fsr-3132	238	3	each	each	DET
fsr-3132	238	4	accumulation	accumulation	NOUN
fsr-3132	238	5	period	period	NOUN
fsr-3132	238	6	are	be	AUX
fsr-3132	238	7	reported	report	VERB
fsr-3132	238	8	in	in	ADP
fsr-3132	238	9	separate	separate	ADJ
fsr-3132	238	10	panels	panel	NOUN
fsr-3132	238	11	.	.	PUNCT
fsr-3132	239	1	first	first	ADJ
fsr-3132	239	2	row	row	NOUN
fsr-3132	239	3	of	of	ADP
fsr-3132	239	4	panels	panel	NOUN
fsr-3132	239	5	b	b	NOUN
fsr-3132	239	6	through	through	ADP
fsr-3132	239	7	d	d	PART
fsr-3132	239	8	give	give	VERB
fsr-3132	239	9	the	the	DET
fsr-3132	239	10	approximate	approximate	ADJ
fsr-3132	239	11	level	level	NOUN
fsr-3132	239	12	of	of	ADP
fsr-3132	239	13	equity	equity	NOUN
fsr-3132	239	14	for	for	ADP
fsr-3132	239	15	each	each	DET
fsr-3132	239	16	lifecycle	lifecycle	NOUN
fsr-3132	239	17	strategy	strategy	NOUN
fsr-3132	239	18	at	at	ADP
fsr-3132	239	19	the	the	DET
fsr-3132	239	20	beginning	beginning	NOUN
fsr-3132	239	21	of	of	ADP
fsr-3132	239	22	accumulation	accumulation	NOUN
fsr-3132	239	23	period	period	NOUN
fsr-3132	239	24	(	(	PUNCT
fsr-3132	239	25	e.g.	e.g.	ADV
fsr-3132	239	26	,	,	PUNCT
fsr-3132	239	27	30	30	NUM
fsr-3132	239	28	years	year	NOUN
fsr-3132	239	29	before	before	ADP
fsr-3132	239	30	target	target	NOUN
fsr-3132	239	31	date	date	NOUN
fsr-3132	239	32	)	)	PUNCT
fsr-3132	239	33	.	.	PUNCT
fsr-3132	240	1	181r.p	181r.p	NOUN
fsr-3132	240	2	.	.	PUNCT
fsr-3132	241	1	chang	chang	PROPN
fsr-3132	241	2	et	et	PROPN
fsr-3132	241	3	al	al	PROPN
fsr-3132	241	4	.	.	PUNCT
fsr-3132	241	5	/	/	SYM
fsr-3132	241	6	financial	financial	ADJ
fsr-3132	241	7	services	service	NOUN
fsr-3132	241	8	review	review	VERB
fsr-3132	241	9	23	23	NUM
fsr-3132	241	10	(	(	PUNCT
fsr-3132	241	11	2014	2014	NUM
fsr-3132	241	12	)	)	PUNCT
fsr-3132	241	13	169–188	169–188	NUM
fsr-3132	241	14	utility	utility	NOUN
fsr-3132	241	15	difference	difference	NOUN
fsr-3132	241	16	between	between	ADP
fsr-3132	241	17	the	the	DET
fsr-3132	241	18	best	good	ADJ
fsr-3132	241	19	lifestyle	lifestyle	NOUN
fsr-3132	241	20	and	and	CCONJ
fsr-3132	241	21	best	good	ADJ
fsr-3132	241	22	lifecycle	lifecycle	NOUN
fsr-3132	241	23	strategies	strategy	NOUN
fsr-3132	241	24	is	be	AUX
fsr-3132	241	25	smaller	small	ADJ
fsr-3132	241	26	than	than	ADP
fsr-3132	241	27	in	in	ADP
fsr-3132	241	28	case	case	NOUN
fsr-3132	241	29	of	of	ADP
fsr-3132	241	30	the	the	DET
fsr-3132	241	31	investor	investor	NOUN
fsr-3132	241	32	who	who	PRON
fsr-3132	241	33	is	be	AUX
fsr-3132	241	34	not	not	PART
fsr-3132	241	35	loss	loss	NOUN
fsr-3132	241	36	averse.10	averse.10	NOUN
fsr-3132	241	37	if	if	SCONJ
fsr-3132	241	38	the	the	DET
fsr-3132	241	39	investor	investor	NOUN
fsr-3132	241	40	postpones	postpone	VERB
fsr-3132	241	41	making	make	VERB
fsr-3132	241	42	contributions	contribution	NOUN
fsr-3132	241	43	into	into	ADP
fsr-3132	241	44	a	a	DET
fsr-3132	241	45	retirement	retirement	NOUN
fsr-3132	241	46	account	account	NOUN
fsr-3132	241	47	and	and	CCONJ
fsr-3132	241	48	leaves	leave	VERB
fsr-3132	241	49	30	30	NUM
fsr-3132	241	50	years	year	NOUN
fsr-3132	241	51	for	for	ADP
fsr-3132	241	52	contributing	contribute	VERB
fsr-3132	241	53	towards	towards	ADP
fsr-3132	241	54	her	her	PRON
fsr-3132	241	55	retirement	retirement	NOUN
fsr-3132	241	56	nest	nest	NOUN
fsr-3132	241	57	egg	egg	NOUN
fsr-3132	241	58	,	,	PUNCT
fsr-3132	241	59	the	the	DET
fsr-3132	241	60	glide	glide	ADJ
fsr-3132	241	61	path	path	NOUN
fsr-3132	241	62	of	of	ADP
fsr-3132	241	63	lifecycle	lifecycle	NOUN
fsr-3132	241	64	strategies	strategy	NOUN
fsr-3132	241	65	has	have	AUX
fsr-3132	241	66	brought	bring	VERB
fsr-3132	241	67	the	the	DET
fsr-3132	241	68	equity	equity	NOUN
fsr-3132	241	69	level	level	NOUN
fsr-3132	241	70	in	in	ADP
fsr-3132	241	71	the	the	DET
fsr-3132	241	72	portfolio	portfolio	NOUN
fsr-3132	241	73	lower	low	ADJ
fsr-3132	241	74	.	.	PUNCT
fsr-3132	242	1	the	the	DET
fsr-3132	242	2	summary	summary	NOUN
fsr-3132	242	3	of	of	ADP
fsr-3132	242	4	expected	expect	VERB
fsr-3132	242	5	utilities	utility	NOUN
fsr-3132	242	6	under	under	ADP
fsr-3132	242	7	the	the	DET
fsr-3132	242	8	same	same	ADJ
fsr-3132	242	9	assumptions	assumption	NOUN
fsr-3132	242	10	is	be	AUX
fsr-3132	242	11	brought	bring	VERB
fsr-3132	242	12	in	in	ADP
fsr-3132	242	13	panel	panel	NOUN
fsr-3132	242	14	b	b	PROPN
fsr-3132	242	15	of	of	ADP
fsr-3132	242	16	table	table	NOUN
fsr-3132	242	17	4	4	NUM
fsr-3132	242	18	.	.	PUNCT
fsr-3132	243	1	if	if	SCONJ
fsr-3132	243	2	our	our	PRON
fsr-3132	243	3	risk	risk	NOUN
fsr-3132	243	4	-	-	PUNCT
fsr-3132	243	5	neutral	neutral	ADJ
fsr-3132	243	6	investor	investor	NOUN
fsr-3132	243	7	is	be	AUX
fsr-3132	243	8	still	still	ADV
fsr-3132	243	9	risk	risk	NOUN
fsr-3132	243	10	neutral	neutral	ADJ
fsr-3132	243	11	towards	towards	ADP
fsr-3132	243	12	risk	risk	NOUN
fsr-3132	243	13	when	when	SCONJ
fsr-3132	243	14	she	she	PRON
fsr-3132	243	15	starts	start	VERB
fsr-3132	243	16	saving	save	VERB
fsr-3132	243	17	for	for	ADP
fsr-3132	243	18	retirement	retirement	NOUN
fsr-3132	243	19	and	and	CCONJ
fsr-3132	243	20	her	her	PRON
fsr-3132	243	21	risk	risk	NOUN
fsr-3132	243	22	aversion	aversion	NOUN
fsr-3132	243	23	reaches	reach	VERB
fsr-3132	243	24	the	the	DET
fsr-3132	243	25	level	level	NOUN
fsr-3132	243	26	of	of	ADP
fsr-3132	243	27	4	4	NUM
fsr-3132	243	28	when	when	SCONJ
fsr-3132	243	29	she	she	PRON
fsr-3132	243	30	retires	retire	VERB
fsr-3132	243	31	,	,	PUNCT
fsr-3132	243	32	she	she	PRON
fsr-3132	243	33	reaches	reach	VERB
fsr-3132	243	34	higher	high	ADJ
fsr-3132	243	35	expected	expect	VERB
fsr-3132	243	36	utility	utility	NOUN
fsr-3132	243	37	with	with	ADP
fsr-3132	243	38	most	most	ADJ
fsr-3132	243	39	of	of	ADP
fsr-3132	243	40	lifecycle	lifecycle	NOUN
fsr-3132	243	41	portfolio	portfolio	NOUN
fsr-3132	243	42	strategies	strategy	NOUN
fsr-3132	243	43	.	.	PUNCT
fsr-3132	244	1	among	among	ADP
fsr-3132	244	2	the	the	DET
fsr-3132	244	3	more	more	ADV
fsr-3132	244	4	common	common	ADJ
fsr-3132	244	5	five	five	NUM
fsr-3132	244	6	lifecycle	lifecycle	NOUN
fsr-3132	244	7	strategies	strategy	NOUN
fsr-3132	244	8	the	the	DET
fsr-3132	244	9	highest	high	ADJ
fsr-3132	244	10	expected	expect	VERB
fsr-3132	244	11	utility	utility	NOUN
fsr-3132	244	12	is	be	AUX
fsr-3132	244	13	reached	reach	VERB
fsr-3132	244	14	with	with	ADP
fsr-3132	244	15	the	the	DET
fsr-3132	244	16	original	original	ADJ
fsr-3132	244	17	glide	glide	NOUN
fsr-3132	244	18	path	path	NOUN
fsr-3132	244	19	strategy	strategy	NOUN
fsr-3132	244	20	from	from	ADP
fsr-3132	244	21	90	90	NUM
fsr-3132	244	22	%	%	NOUN
fsr-3132	244	23	equity	equity	NOUN
fsr-3132	244	24	to	to	ADP
fsr-3132	244	25	20	20	NUM
fsr-3132	244	26	%	%	NOUN
fsr-3132	244	27	equity	equity	NOUN
fsr-3132	244	28	.	.	PUNCT
fsr-3132	245	1	this	this	DET
fsr-3132	245	2	strategy	strategy	NOUN
fsr-3132	245	3	would	would	AUX
fsr-3132	245	4	yield	yield	VERB
fsr-3132	245	5	our	our	PRON
fsr-3132	245	6	investor	investor	NOUN
fsr-3132	245	7	a	a	DET
fsr-3132	245	8	total	total	ADJ
fsr-3132	245	9	accumulation	accumulation	NOUN
fsr-3132	245	10	period	period	NOUN
fsr-3132	245	11	expected	expect	VERB
fsr-3132	245	12	utility	utility	NOUN
fsr-3132	245	13	that	that	PRON
fsr-3132	245	14	is	be	AUX
fsr-3132	245	15	1.3	1.3	NUM
fsr-3132	245	16	%	%	NOUN
fsr-3132	245	17	higher	high	ADJ
fsr-3132	245	18	than	than	ADP
fsr-3132	245	19	the	the	DET
fsr-3132	245	20	utility	utility	NOUN
fsr-3132	245	21	from	from	ADP
fsr-3132	245	22	the	the	DET
fsr-3132	245	23	40	40	NUM
fsr-3132	245	24	%	%	NOUN
fsr-3132	245	25	equity	equity	NOUN
fsr-3132	245	26	lifestyle	lifestyle	PROPN
fsr-3132	245	27	portfolio	portfolio	NOUN
fsr-3132	245	28	(	(	PUNCT
fsr-3132	245	29	e(u)	e(u)	PROPN
fsr-3132	245	30	�	�	PROPN
fsr-3132	245	31	1.703	1.703	NUM
fsr-3132	245	32	)	)	PUNCT
fsr-3132	245	33	and	and	CCONJ
fsr-3132	245	34	the	the	DET
fsr-3132	245	35	difference	difference	NOUN
fsr-3132	245	36	is	be	AUX
fsr-3132	245	37	significant	significant	ADJ
fsr-3132	245	38	at	at	ADP
fsr-3132	245	39	the	the	DET
fsr-3132	245	40	1	1	NUM
fsr-3132	245	41	%	%	NOUN
fsr-3132	245	42	level	level	NOUN
fsr-3132	245	43	.	.	PUNCT
fsr-3132	246	1	less	less	ADJ
fsr-3132	246	2	risk	risk	VERB
fsr-3132	246	3	tolerant	tolerant	ADJ
fsr-3132	246	4	investor	investor	NOUN
fsr-3132	246	5	with	with	ADP
fsr-3132	246	6	risk	risk	NOUN
fsr-3132	246	7	aversion	aversion	NOUN
fsr-3132	246	8	changing	change	VERB
fsr-3132	246	9	from	from	ADP
fsr-3132	246	10	2	2	NUM
fsr-3132	246	11	to	to	ADP
fsr-3132	246	12	6	6	NUM
fsr-3132	246	13	over	over	ADP
fsr-3132	246	14	her	her	PRON
fsr-3132	246	15	30	30	NUM
fsr-3132	246	16	-	-	PUNCT
fsr-3132	246	17	year	year	NOUN
fsr-3132	246	18	accumulation	accumulation	NOUN
fsr-3132	246	19	period	period	NOUN
fsr-3132	246	20	will	will	AUX
fsr-3132	246	21	benefit	benefit	VERB
fsr-3132	246	22	from	from	ADP
fsr-3132	246	23	more	more	ADJ
fsr-3132	246	24	conservative	conservative	ADJ
fsr-3132	246	25	lifecycle	lifecycle	NOUN
fsr-3132	246	26	strategy	strategy	NOUN
fsr-3132	246	27	with	with	ADP
fsr-3132	246	28	equity	equity	NOUN
fsr-3132	246	29	changing	change	VERB
fsr-3132	246	30	from	from	ADP
fsr-3132	246	31	45	45	NUM
fsr-3132	246	32	%	%	NOUN
fsr-3132	246	33	to	to	PART
fsr-3132	246	34	25	25	NUM
fsr-3132	246	35	%	%	NOUN
fsr-3132	246	36	,	,	PUNCT
fsr-3132	246	37	which	which	PRON
fsr-3132	246	38	is	be	AUX
fsr-3132	246	39	only	only	ADV
fsr-3132	246	40	0.2	0.2	NUM
fsr-3132	246	41	%	%	NOUN
fsr-3132	246	42	higher	high	ADJ
fsr-3132	246	43	than	than	ADP
fsr-3132	246	44	that	that	PRON
fsr-3132	246	45	of	of	ADP
fsr-3132	246	46	the	the	DET
fsr-3132	246	47	best	good	ADJ
fsr-3132	246	48	lifestyle	lifestyle	NOUN
fsr-3132	246	49	strategy	strategy	NOUN
fsr-3132	246	50	(	(	PUNCT
fsr-3132	246	51	30	30	NUM
fsr-3132	246	52	%	%	NOUN
fsr-3132	246	53	equity	equity	NOUN
fsr-3132	246	54	fixed	fix	VERB
fsr-3132	246	55	)	)	PUNCT
fsr-3132	246	56	.	.	PUNCT
fsr-3132	247	1	in	in	ADP
fsr-3132	247	2	case	case	NOUN
fsr-3132	247	3	our	our	PRON
fsr-3132	247	4	investor	investor	NOUN
fsr-3132	247	5	’s	’s	PART
fsr-3132	247	6	accumulation	accumulation	NOUN
fsr-3132	247	7	period	period	NOUN
fsr-3132	247	8	is	be	AUX
fsr-3132	247	9	only	only	ADV
fsr-3132	247	10	20	20	NUM
fsr-3132	247	11	years	year	NOUN
fsr-3132	247	12	,	,	PUNCT
fsr-3132	247	13	the	the	DET
fsr-3132	247	14	glide	glide	ADJ
fsr-3132	247	15	paths	path	NOUN
fsr-3132	247	16	of	of	ADP
fsr-3132	247	17	lifecycle	lifecycle	NOUN
fsr-3132	247	18	strategies	strategy	NOUN
fsr-3132	247	19	have	have	AUX
fsr-3132	247	20	brought	bring	VERB
fsr-3132	247	21	the	the	DET
fsr-3132	247	22	equity	equity	NOUN
fsr-3132	247	23	level	level	NOUN
fsr-3132	247	24	closer	close	ADV
fsr-3132	247	25	to	to	ADP
fsr-3132	247	26	the	the	DET
fsr-3132	247	27	level	level	NOUN
fsr-3132	247	28	at	at	ADP
fsr-3132	247	29	the	the	DET
fsr-3132	247	30	target	target	NOUN
fsr-3132	247	31	date	date	NOUN
fsr-3132	247	32	.	.	PUNCT
fsr-3132	248	1	we	we	PRON
fsr-3132	248	2	find	find	VERB
fsr-3132	248	3	,	,	PUNCT
fsr-3132	248	4	though	though	ADV
fsr-3132	248	5	,	,	PUNCT
fsr-3132	248	6	from	from	ADP
fsr-3132	248	7	panel	panel	NOUN
fsr-3132	248	8	c	c	PROPN
fsr-3132	248	9	of	of	ADP
fsr-3132	248	10	table	table	NOUN
fsr-3132	248	11	4	4	NUM
fsr-3132	248	12	,	,	PUNCT
fsr-3132	248	13	that	that	PRON
fsr-3132	248	14	for	for	ADP
fsr-3132	248	15	our	our	PRON
fsr-3132	248	16	representative	representative	ADJ
fsr-3132	248	17	investor	investor	NOUN
fsr-3132	248	18	who	who	PRON
fsr-3132	248	19	is	be	AUX
fsr-3132	248	20	risk	risk	NOUN
fsr-3132	248	21	neutral	neutral	ADJ
fsr-3132	248	22	when	when	SCONJ
fsr-3132	248	23	she	she	PRON
fsr-3132	248	24	starts	start	VERB
fsr-3132	248	25	investing	invest	VERB
fsr-3132	248	26	towards	towards	ADP
fsr-3132	248	27	retirement	retirement	NOUN
fsr-3132	248	28	and	and	CCONJ
fsr-3132	248	29	reaches	reach	VERB
fsr-3132	248	30	a	a	DET
fsr-3132	248	31	risk	risk	NOUN
fsr-3132	248	32	aversion	aversion	NOUN
fsr-3132	248	33	level	level	NOUN
fsr-3132	248	34	of	of	ADP
fsr-3132	248	35	4	4	NUM
fsr-3132	248	36	at	at	ADP
fsr-3132	248	37	the	the	DET
fsr-3132	248	38	retirement	retirement	NOUN
fsr-3132	248	39	date	date	NOUN
fsr-3132	248	40	,	,	PUNCT
fsr-3132	248	41	the	the	DET
fsr-3132	248	42	lifecycle	lifecycle	NOUN
fsr-3132	248	43	strategy	strategy	NOUN
fsr-3132	248	44	with	with	ADP
fsr-3132	248	45	the	the	DET
fsr-3132	248	46	original	original	ADJ
fsr-3132	248	47	glide	glide	NOUN
fsr-3132	248	48	path	path	NOUN
fsr-3132	248	49	from	from	ADP
fsr-3132	248	50	80	80	NUM
fsr-3132	248	51	%	%	NOUN
fsr-3132	248	52	equity	equity	NOUN
fsr-3132	248	53	to	to	ADP
fsr-3132	248	54	35	35	NUM
fsr-3132	248	55	%	%	NOUN
fsr-3132	248	56	equity	equity	NOUN
fsr-3132	248	57	yields	yield	VERB
fsr-3132	248	58	the	the	DET
fsr-3132	248	59	highest	high	ADJ
fsr-3132	248	60	expected	expect	VERB
fsr-3132	248	61	utility	utility	NOUN
fsr-3132	248	62	.	.	PUNCT
fsr-3132	249	1	for	for	ADP
fsr-3132	249	2	the	the	DET
fsr-3132	249	3	investor	investor	NOUN
fsr-3132	249	4	whose	whose	DET
fsr-3132	249	5	risk	risk	NOUN
fsr-3132	249	6	aversion	aversion	NOUN
fsr-3132	249	7	is	be	AUX
fsr-3132	249	8	2	2	NUM
fsr-3132	249	9	when	when	SCONJ
fsr-3132	249	10	she	she	PRON
fsr-3132	249	11	starts	start	VERB
fsr-3132	249	12	investing	invest	VERB
fsr-3132	249	13	and	and	CCONJ
fsr-3132	249	14	reaches	reach	VERB
fsr-3132	249	15	6	6	NUM
fsr-3132	249	16	by	by	ADP
fsr-3132	249	17	the	the	DET
fsr-3132	249	18	target	target	NOUN
fsr-3132	249	19	year	year	NOUN
fsr-3132	249	20	,	,	PUNCT
fsr-3132	249	21	a	a	DET
fsr-3132	249	22	more	more	ADV
fsr-3132	249	23	conservative	conservative	ADJ
fsr-3132	249	24	strategy	strategy	NOUN
fsr-3132	249	25	with	with	ADP
fsr-3132	249	26	original	original	ADJ
fsr-3132	249	27	glide	glide	NOUN
fsr-3132	249	28	path	path	NOUN
fsr-3132	249	29	from	from	ADP
fsr-3132	249	30	45	45	NUM
fsr-3132	249	31	%	%	NOUN
fsr-3132	249	32	equity	equity	NOUN
fsr-3132	249	33	to	to	ADP
fsr-3132	249	34	25	25	NUM
fsr-3132	249	35	%	%	NOUN
fsr-3132	249	36	equity	equity	NOUN
fsr-3132	249	37	provides	provide	VERB
fsr-3132	249	38	the	the	DET
fsr-3132	249	39	highest	high	ADJ
fsr-3132	249	40	utility	utility	NOUN
fsr-3132	249	41	.	.	PUNCT
fsr-3132	250	1	for	for	ADP
fsr-3132	250	2	the	the	DET
fsr-3132	250	3	loss	loss	NOUN
fsr-3132	250	4	averse	averse	ADJ
fsr-3132	250	5	investor	investor	NOUN
fsr-3132	250	6	with	with	ADP
fsr-3132	250	7	the	the	DET
fsr-3132	250	8	10	10	NUM
fsr-3132	250	9	year	year	NOUN
fsr-3132	250	10	accumulation	accumulation	NOUN
fsr-3132	250	11	period	period	NOUN
fsr-3132	250	12	,	,	PUNCT
fsr-3132	250	13	the	the	DET
fsr-3132	250	14	glide	glide	ADJ
fsr-3132	250	15	paths	path	NOUN
fsr-3132	250	16	of	of	ADP
fsr-3132	250	17	many	many	ADJ
fsr-3132	250	18	common	common	ADJ
fsr-3132	250	19	tdfs	tdfs	NOUN
fsr-3132	250	20	have	have	AUX
fsr-3132	250	21	reached	reach	VERB
fsr-3132	250	22	low	low	ADJ
fsr-3132	250	23	enough	enough	ADJ
fsr-3132	250	24	levels	level	NOUN
fsr-3132	250	25	of	of	ADP
fsr-3132	250	26	equity	equity	NOUN
fsr-3132	250	27	that	that	PRON
fsr-3132	250	28	a	a	DET
fsr-3132	250	29	conservative	conservative	ADJ
fsr-3132	250	30	investor	investor	NOUN
fsr-3132	250	31	may	may	AUX
fsr-3132	250	32	reach	reach	VERB
fsr-3132	250	33	higher	high	ADJ
fsr-3132	250	34	utility	utility	NOUN
fsr-3132	250	35	with	with	ADP
fsr-3132	250	36	lifecycle	lifecycle	NOUN
fsr-3132	250	37	strategies	strategy	NOUN
fsr-3132	250	38	compared	compare	VERB
fsr-3132	250	39	with	with	ADP
fsr-3132	250	40	best	good	ADJ
fsr-3132	250	41	lifestyle	lifestyle	NOUN
fsr-3132	250	42	strategy	strategy	NOUN
fsr-3132	250	43	.	.	PUNCT
fsr-3132	251	1	however	however	ADV
fsr-3132	251	2	,	,	PUNCT
fsr-3132	251	3	the	the	DET
fsr-3132	251	4	percentage	percentage	NOUN
fsr-3132	251	5	difference	difference	NOUN
fsr-3132	251	6	in	in	ADP
fsr-3132	251	7	expected	expected	ADJ
fsr-3132	251	8	utilities	utility	NOUN
fsr-3132	251	9	is	be	AUX
fsr-3132	251	10	very	very	ADV
fsr-3132	251	11	small	small	ADJ
fsr-3132	251	12	.	.	PUNCT
fsr-3132	252	1	in	in	ADP
fsr-3132	252	2	summary	summary	NOUN
fsr-3132	252	3	,	,	PUNCT
fsr-3132	252	4	our	our	PRON
fsr-3132	252	5	results	result	NOUN
fsr-3132	252	6	show	show	VERB
fsr-3132	252	7	that	that	SCONJ
fsr-3132	252	8	for	for	ADP
fsr-3132	252	9	the	the	DET
fsr-3132	252	10	loss	loss	NOUN
fsr-3132	252	11	averse	averse	ADJ
fsr-3132	252	12	investor	investor	NOUN
fsr-3132	252	13	the	the	DET
fsr-3132	252	14	portfolio	portfolio	NOUN
fsr-3132	252	15	strategies	strategy	NOUN
fsr-3132	252	16	have	have	VERB
fsr-3132	252	17	to	to	PART
fsr-3132	252	18	be	be	AUX
fsr-3132	252	19	more	more	ADV
fsr-3132	252	20	conservative	conservative	ADJ
fsr-3132	252	21	to	to	PART
fsr-3132	252	22	yield	yield	VERB
fsr-3132	252	23	higher	high	ADJ
fsr-3132	252	24	utility	utility	NOUN
fsr-3132	252	25	.	.	PUNCT
fsr-3132	253	1	both	both	CCONJ
fsr-3132	253	2	the	the	DET
fsr-3132	253	3	best	good	ADJ
fsr-3132	253	4	lifestyle	lifestyle	NOUN
fsr-3132	253	5	and	and	CCONJ
fsr-3132	253	6	best	good	ADJ
fsr-3132	253	7	lifecycle	lifecycle	NOUN
fsr-3132	253	8	strategies	strategy	NOUN
fsr-3132	253	9	need	need	VERB
fsr-3132	253	10	to	to	PART
fsr-3132	253	11	have	have	VERB
fsr-3132	253	12	a	a	DET
fsr-3132	253	13	lower	low	ADJ
fsr-3132	253	14	level	level	NOUN
fsr-3132	253	15	of	of	ADP
fsr-3132	253	16	equity	equity	NOUN
fsr-3132	253	17	.	.	PUNCT
fsr-3132	254	1	we	we	PRON
fsr-3132	254	2	also	also	ADV
fsr-3132	254	3	find	find	VERB
fsr-3132	254	4	that	that	SCONJ
fsr-3132	254	5	the	the	DET
fsr-3132	254	6	difference	difference	NOUN
fsr-3132	254	7	between	between	ADP
fsr-3132	254	8	the	the	DET
fsr-3132	254	9	utility	utility	NOUN
fsr-3132	254	10	from	from	ADP
fsr-3132	254	11	reported	report	VERB
fsr-3132	254	12	lifestyle	lifestyle	NOUN
fsr-3132	254	13	and	and	CCONJ
fsr-3132	254	14	lifecycle	lifecycle	NOUN
fsr-3132	254	15	strategies	strategy	NOUN
fsr-3132	254	16	has	have	AUX
fsr-3132	254	17	become	become	VERB
fsr-3132	254	18	smaller	small	ADJ
fsr-3132	254	19	.	.	PUNCT
fsr-3132	255	1	for	for	ADP
fsr-3132	255	2	the	the	DET
fsr-3132	255	3	more	more	ADJ
fsr-3132	255	4	risk	risk	NOUN
fsr-3132	255	5	tolerant	tolerant	ADJ
fsr-3132	255	6	investor	investor	NOUN
fsr-3132	255	7	the	the	DET
fsr-3132	255	8	utility	utility	NOUN
fsr-3132	255	9	from	from	ADP
fsr-3132	255	10	the	the	DET
fsr-3132	255	11	common	common	ADJ
fsr-3132	255	12	lifecycle	lifecycle	NOUN
fsr-3132	255	13	strategies	strategy	NOUN
fsr-3132	255	14	is	be	AUX
fsr-3132	255	15	less	less	ADJ
fsr-3132	255	16	than	than	ADP
fsr-3132	255	17	1.6	1.6	NUM
fsr-3132	255	18	%	%	NOUN
fsr-3132	255	19	higher	high	ADJ
fsr-3132	255	20	than	than	ADP
fsr-3132	255	21	the	the	DET
fsr-3132	255	22	utility	utility	NOUN
fsr-3132	255	23	from	from	ADP
fsr-3132	255	24	the	the	DET
fsr-3132	255	25	best	good	ADJ
fsr-3132	255	26	lifestyle	lifestyle	NOUN
fsr-3132	255	27	strategy	strategy	NOUN
fsr-3132	255	28	and	and	CCONJ
fsr-3132	255	29	the	the	DET
fsr-3132	255	30	most	most	ADV
fsr-3132	255	31	aggressive	aggressive	ADJ
fsr-3132	255	32	glide	glide	NOUN
fsr-3132	255	33	path	path	NOUN
fsr-3132	255	34	(	(	PUNCT
fsr-3132	255	35	90	90	NUM
fsr-3132	255	36	%	%	NOUN
fsr-3132	255	37	to	to	PART
fsr-3132	255	38	50	50	NUM
fsr-3132	255	39	%	%	NOUN
fsr-3132	255	40	)	)	PUNCT
fsr-3132	255	41	does	do	AUX
fsr-3132	255	42	not	not	PART
fsr-3132	255	43	outperform	outperform	VERB
fsr-3132	255	44	the	the	DET
fsr-3132	255	45	best	good	ADJ
fsr-3132	255	46	lifestyle	lifestyle	NOUN
fsr-3132	255	47	strategy	strategy	NOUN
fsr-3132	255	48	.	.	PUNCT
fsr-3132	256	1	for	for	ADP
fsr-3132	256	2	the	the	DET
fsr-3132	256	3	more	more	ADJ
fsr-3132	256	4	risk	risk	NOUN
fsr-3132	256	5	averse	averse	ADJ
fsr-3132	256	6	and	and	CCONJ
fsr-3132	256	7	loss	loss	VERB
fsr-3132	256	8	averse	averse	ADJ
fsr-3132	256	9	investor	investor	NOUN
fsr-3132	256	10	the	the	DET
fsr-3132	256	11	utility	utility	NOUN
fsr-3132	256	12	from	from	ADP
fsr-3132	256	13	the	the	DET
fsr-3132	256	14	common	common	ADJ
fsr-3132	256	15	lifecycle	lifecycle	NOUN
fsr-3132	256	16	strategies	strategy	NOUN
fsr-3132	256	17	is	be	AUX
fsr-3132	256	18	even	even	ADV
fsr-3132	256	19	less	less	ADV
fsr-3132	256	20	beneficial	beneficial	ADJ
fsr-3132	256	21	compared	compare	VERB
fsr-3132	256	22	with	with	ADP
fsr-3132	256	23	the	the	DET
fsr-3132	256	24	best	good	ADJ
fsr-3132	256	25	lifestyle	lifestyle	NOUN
fsr-3132	256	26	strategy	strategy	NOUN
fsr-3132	256	27	.	.	PUNCT
fsr-3132	257	1	such	such	ADJ
fsr-3132	257	2	investor	investor	NOUN
fsr-3132	257	3	needs	need	VERB
fsr-3132	257	4	more	more	ADV
fsr-3132	257	5	conservative	conservative	ADJ
fsr-3132	257	6	tdfs	tdfs	NOUN
fsr-3132	257	7	than	than	SCONJ
fsr-3132	257	8	currently	currently	ADV
fsr-3132	257	9	offered	offer	VERB
fsr-3132	257	10	on	on	ADP
fsr-3132	257	11	the	the	DET
fsr-3132	257	12	market	market	NOUN
fsr-3132	257	13	.	.	PUNCT
fsr-3132	258	1	3.3	3.3	NUM
fsr-3132	258	2	.	.	PUNCT
fsr-3132	259	1	expected	expect	VERB
fsr-3132	259	2	utility	utility	NOUN
fsr-3132	259	3	from	from	ADP
fsr-3132	259	4	a	a	DET
fsr-3132	259	5	kinked	kinked	ADJ
fsr-3132	259	6	tdf	tdf	PROPN
fsr-3132	259	7	glide	glide	PROPN
fsr-3132	259	8	path	path	NOUN
fsr-3132	259	9	or	or	CCONJ
fsr-3132	259	10	a	a	DET
fsr-3132	259	11	kinked	kinked	ADJ
fsr-3132	259	12	risk	risk	NOUN
fsr-3132	259	13	aversion	aversion	NOUN
fsr-3132	259	14	so	so	ADV
fsr-3132	259	15	far	far	ADV
fsr-3132	259	16	we	we	PRON
fsr-3132	259	17	have	have	AUX
fsr-3132	259	18	examined	examine	VERB
fsr-3132	259	19	so	so	ADV
fsr-3132	259	20	-	-	PUNCT
fsr-3132	259	21	called	call	VERB
fsr-3132	259	22	smooth	smooth	ADJ
fsr-3132	259	23	glide	glide	ADJ
fsr-3132	259	24	path	path	NOUN
fsr-3132	259	25	strategies	strategy	NOUN
fsr-3132	259	26	in	in	ADP
fsr-3132	259	27	comparison	comparison	NOUN
fsr-3132	259	28	to	to	ADP
fsr-3132	259	29	constant	constant	ADJ
fsr-3132	259	30	equity	equity	NOUN
fsr-3132	259	31	strategies	strategy	NOUN
fsr-3132	259	32	.	.	PUNCT
fsr-3132	260	1	poterba	poterba	NOUN
fsr-3132	260	2	and	and	CCONJ
fsr-3132	260	3	samwick	samwick	PROPN
fsr-3132	260	4	(	(	PUNCT
fsr-3132	260	5	1997	1997	NUM
fsr-3132	260	6	)	)	PUNCT
fsr-3132	260	7	study	study	VERB
fsr-3132	260	8	the	the	DET
fsr-3132	260	9	age	age	NOUN
fsr-3132	260	10	and	and	CCONJ
fsr-3132	260	11	cohort	cohort	NOUN
fsr-3132	260	12	effects	effect	NOUN
fsr-3132	260	13	on	on	ADP
fsr-3132	260	14	investor	investor	NOUN
fsr-3132	260	15	portfolio	portfolio	NOUN
fsr-3132	260	16	allocation	allocation	NOUN
fsr-3132	260	17	and	and	CCONJ
fsr-3132	260	18	find	find	VERB
fsr-3132	260	19	that	that	SCONJ
fsr-3132	260	20	households	household	NOUN
fsr-3132	260	21	start	start	VERB
fsr-3132	260	22	decreasing	decrease	VERB
fsr-3132	260	23	equity	equity	NOUN
fsr-3132	260	24	in	in	ADP
fsr-3132	260	25	their	their	PRON
fsr-3132	260	26	overall	overall	ADJ
fsr-3132	260	27	portfolio	portfolio	NOUN
fsr-3132	260	28	after	after	ADP
fsr-3132	260	29	age	age	NOUN
fsr-3132	260	30	43	43	NUM
fsr-3132	260	31	.	.	PUNCT
fsr-3132	261	1	in	in	ADP
fsr-3132	261	2	addition	addition	NOUN
fsr-3132	261	3	,	,	PUNCT
fsr-3132	261	4	as	as	SCONJ
fsr-3132	261	5	shown	show	VERB
fsr-3132	261	6	in	in	ADP
fsr-3132	261	7	table	table	NOUN
fsr-3132	261	8	2	2	NUM
fsr-3132	261	9	,	,	PUNCT
fsr-3132	261	10	among	among	ADP
fsr-3132	261	11	the	the	DET
fsr-3132	261	12	tdfs	tdfs	NOUN
fsr-3132	261	13	offered	offer	VERB
fsr-3132	261	14	in	in	ADP
fsr-3132	261	15	the	the	DET
fsr-3132	261	16	market	market	NOUN
fsr-3132	261	17	,	,	PUNCT
fsr-3132	261	18	57	57	NUM
fsr-3132	261	19	%	%	NOUN
fsr-3132	261	20	182	182	NUM
fsr-3132	261	21	r.p	r.p	NOUN
fsr-3132	261	22	.	.	PROPN
fsr-3132	261	23	chang	chang	PROPN
fsr-3132	261	24	et	et	PROPN
fsr-3132	261	25	al	al	PROPN
fsr-3132	261	26	.	.	PUNCT
fsr-3132	261	27	/	/	SYM
fsr-3132	261	28	financial	financial	ADJ
fsr-3132	261	29	services	service	NOUN
fsr-3132	261	30	review	review	VERB
fsr-3132	261	31	23	23	NUM
fsr-3132	261	32	(	(	PUNCT
fsr-3132	261	33	2014	2014	NUM
fsr-3132	261	34	)	)	PUNCT
fsr-3132	261	35	169–188	169–188	NUM
fsr-3132	261	36	have	have	VERB
fsr-3132	261	37	a	a	DET
fsr-3132	261	38	kink	kink	NOUN
fsr-3132	261	39	in	in	ADP
fsr-3132	261	40	their	their	PRON
fsr-3132	261	41	glide	glide	NOUN
fsr-3132	261	42	paths	path	NOUN
fsr-3132	261	43	.	.	PUNCT
fsr-3132	262	1	many	many	ADJ
fsr-3132	262	2	tdfs	tdfs	NOUN
fsr-3132	262	3	keep	keep	VERB
fsr-3132	262	4	the	the	DET
fsr-3132	262	5	equity	equity	NOUN
fsr-3132	262	6	allocation	allocation	NOUN
fsr-3132	262	7	at	at	ADP
fsr-3132	262	8	maximum	maximum	ADV
fsr-3132	262	9	in	in	ADP
fsr-3132	262	10	the	the	DET
fsr-3132	262	11	beginning	beginning	NOUN
fsr-3132	262	12	of	of	ADP
fsr-3132	262	13	the	the	DET
fsr-3132	262	14	accumulation	accumulation	NOUN
fsr-3132	262	15	period	period	NOUN
fsr-3132	262	16	for	for	ADP
fsr-3132	262	17	five	five	NUM
fsr-3132	262	18	to	to	PART
fsr-3132	262	19	15	15	NUM
fsr-3132	262	20	years	year	NOUN
fsr-3132	262	21	thus	thus	ADV
fsr-3132	262	22	creating	create	VERB
fsr-3132	262	23	a	a	DET
fsr-3132	262	24	kink	kink	NOUN
fsr-3132	262	25	into	into	ADP
fsr-3132	262	26	the	the	DET
fsr-3132	262	27	glide	glide	NOUN
fsr-3132	262	28	path	path	NOUN
fsr-3132	262	29	.	.	PUNCT
fsr-3132	263	1	most	most	ADJ
fsr-3132	263	2	tdfs	tdfs	ADJ
fsr-3132	263	3	in	in	ADP
fsr-3132	263	4	the	the	DET
fsr-3132	263	5	market	market	NOUN
fsr-3132	263	6	do	do	AUX
fsr-3132	263	7	not	not	PART
fsr-3132	263	8	keep	keep	VERB
fsr-3132	263	9	equity	equity	NOUN
fsr-3132	263	10	at	at	ADP
fsr-3132	263	11	the	the	DET
fsr-3132	263	12	maximum	maximum	ADJ
fsr-3132	263	13	level	level	NOUN
fsr-3132	263	14	for	for	ADP
fsr-3132	263	15	that	that	PRON
fsr-3132	263	16	long	long	ADV
fsr-3132	263	17	,	,	PUNCT
fsr-3132	263	18	but	but	CCONJ
fsr-3132	263	19	have	have	VERB
fsr-3132	263	20	a	a	DET
fsr-3132	263	21	kink	kink	NOUN
fsr-3132	263	22	in	in	ADP
fsr-3132	263	23	the	the	DET
fsr-3132	263	24	glide	glide	NOUN
fsr-3132	263	25	path	path	NOUN
fsr-3132	263	26	at	at	ADP
fsr-3132	263	27	35	35	NUM
fsr-3132	263	28	to	to	PART
fsr-3132	263	29	30	30	NUM
fsr-3132	263	30	years	year	NOUN
fsr-3132	263	31	before	before	ADP
fsr-3132	263	32	the	the	DET
fsr-3132	263	33	target	target	NOUN
fsr-3132	263	34	year	year	NOUN
fsr-3132	263	35	.	.	PUNCT
fsr-3132	264	1	to	to	PART
fsr-3132	264	2	investigate	investigate	VERB
fsr-3132	264	3	the	the	DET
fsr-3132	264	4	impact	impact	NOUN
fsr-3132	264	5	of	of	ADP
fsr-3132	264	6	a	a	DET
fsr-3132	264	7	kink	kink	NOUN
fsr-3132	264	8	,	,	PUNCT
fsr-3132	264	9	we	we	PRON
fsr-3132	264	10	study	study	VERB
fsr-3132	264	11	the	the	DET
fsr-3132	264	12	expected	expect	VERB
fsr-3132	264	13	utility	utility	NOUN
fsr-3132	264	14	for	for	ADP
fsr-3132	264	15	glide	glide	ADJ
fsr-3132	264	16	path	path	NOUN
fsr-3132	264	17	strategies	strategy	NOUN
fsr-3132	264	18	with	with	ADP
fsr-3132	264	19	the	the	DET
fsr-3132	264	20	kink	kink	NOUN
fsr-3132	264	21	at	at	ADP
fsr-3132	264	22	30	30	NUM
fsr-3132	264	23	years	year	NOUN
fsr-3132	264	24	before	before	ADP
fsr-3132	264	25	the	the	DET
fsr-3132	264	26	target	target	NOUN
fsr-3132	264	27	year	year	NOUN
fsr-3132	264	28	and	and	CCONJ
fsr-3132	264	29	report	report	VERB
fsr-3132	264	30	the	the	DET
fsr-3132	264	31	results	result	NOUN
fsr-3132	264	32	in	in	ADP
fsr-3132	264	33	table	table	NOUN
fsr-3132	264	34	5.11	5.11	NUM
fsr-3132	264	35	we	we	PRON
fsr-3132	264	36	examine	examine	VERB
fsr-3132	264	37	the	the	DET
fsr-3132	264	38	lifecycle	lifecycle	NOUN
fsr-3132	264	39	strategies	strategy	NOUN
fsr-3132	264	40	with	with	ADP
fsr-3132	264	41	the	the	DET
fsr-3132	264	42	kink	kink	NOUN
fsr-3132	264	43	at	at	ADP
fsr-3132	264	44	30	30	NUM
fsr-3132	264	45	years	year	NOUN
fsr-3132	264	46	before	before	ADP
fsr-3132	264	47	the	the	DET
fsr-3132	264	48	target	target	NOUN
fsr-3132	264	49	year	year	NOUN
fsr-3132	264	50	in	in	ADP
fsr-3132	264	51	comparison	comparison	NOUN
fsr-3132	264	52	to	to	ADP
fsr-3132	264	53	the	the	DET
fsr-3132	264	54	best	good	ADJ
fsr-3132	264	55	lifestyle	lifestyle	NOUN
fsr-3132	264	56	strategy	strategy	NOUN
fsr-3132	264	57	as	as	ADP
fsr-3132	264	58	in	in	ADP
fsr-3132	264	59	table	table	NOUN
fsr-3132	264	60	3	3	NUM
fsr-3132	264	61	.	.	PUNCT
fsr-3132	265	1	in	in	ADP
fsr-3132	265	2	panel	panel	NOUN
fsr-3132	265	3	a	a	PRON
fsr-3132	265	4	of	of	ADP
fsr-3132	265	5	table	table	NOUN
fsr-3132	265	6	5	5	NUM
fsr-3132	265	7	we	we	PRON
fsr-3132	265	8	still	still	ADV
fsr-3132	265	9	assume	assume	VERB
fsr-3132	265	10	that	that	SCONJ
fsr-3132	265	11	the	the	DET
fsr-3132	265	12	investor	investor	NOUN
fsr-3132	265	13	’s	’s	PART
fsr-3132	265	14	risk	risk	NOUN
fsr-3132	265	15	aversion	aversion	NOUN
fsr-3132	265	16	changes	change	NOUN
fsr-3132	265	17	linearly	linearly	ADV
fsr-3132	265	18	and	and	CCONJ
fsr-3132	265	19	starts	start	VERB
fsr-3132	265	20	increasing	increase	VERB
fsr-3132	265	21	right	right	ADV
fsr-3132	265	22	after	after	SCONJ
fsr-3132	265	23	she	she	PRON
fsr-3132	265	24	starts	start	VERB
fsr-3132	265	25	making	make	VERB
fsr-3132	265	26	contributions	contribution	NOUN
fsr-3132	265	27	to	to	ADP
fsr-3132	265	28	her	her	PRON
fsr-3132	265	29	retirement	retirement	NOUN
fsr-3132	265	30	account	account	NOUN
fsr-3132	265	31	.	.	PUNCT
fsr-3132	266	1	this	this	DET
fsr-3132	266	2	investor	investor	NOUN
fsr-3132	266	3	,	,	PUNCT
fsr-3132	266	4	however	however	ADV
fsr-3132	266	5	,	,	PUNCT
fsr-3132	266	6	has	have	VERB
fsr-3132	266	7	a	a	DET
fsr-3132	266	8	kinked	kinked	ADJ
fsr-3132	266	9	glide	glide	NOUN
fsr-3132	266	10	path	path	NOUN
fsr-3132	266	11	30	30	NUM
fsr-3132	266	12	years	year	NOUN
fsr-3132	266	13	before	before	ADP
fsr-3132	266	14	the	the	DET
fsr-3132	266	15	target	target	NOUN
fsr-3132	266	16	year	year	NOUN
fsr-3132	266	17	.	.	PUNCT
fsr-3132	267	1	when	when	SCONJ
fsr-3132	267	2	the	the	DET
fsr-3132	267	3	investor	investor	NOUN
fsr-3132	267	4	’s	’s	AUX
fsr-3132	267	5	beginning	begin	VERB
fsr-3132	267	6	risk	risk	NOUN
fsr-3132	267	7	aversion	aversion	NOUN
fsr-3132	267	8	is	be	AUX
fsr-3132	267	9	neutral	neutral	ADJ
fsr-3132	267	10	she	she	PRON
fsr-3132	267	11	can	can	AUX
fsr-3132	267	12	easily	easily	ADV
fsr-3132	267	13	select	select	VERB
fsr-3132	267	14	a	a	DET
fsr-3132	267	15	tdf	tdf	NOUN
fsr-3132	267	16	among	among	ADP
fsr-3132	267	17	the	the	DET
fsr-3132	267	18	most	most	ADV
fsr-3132	267	19	common	common	ADJ
fsr-3132	267	20	lifecycle	lifecycle	NOUN
fsr-3132	267	21	strategies	strategy	NOUN
fsr-3132	267	22	that	that	PRON
fsr-3132	267	23	outperform	outperform	VERB
fsr-3132	267	24	the	the	DET
fsr-3132	267	25	best	good	ADJ
fsr-3132	267	26	lifestyle	lifestyle	NOUN
fsr-3132	267	27	strategy	strategy	NOUN
fsr-3132	267	28	.	.	PUNCT
fsr-3132	268	1	the	the	PRON
fsr-3132	268	2	higher	high	ADJ
fsr-3132	268	3	her	her	PRON
fsr-3132	268	4	ending	end	VERB
fsr-3132	268	5	risk	risk	NOUN
fsr-3132	268	6	aversion	aversion	NOUN
fsr-3132	268	7	,	,	PUNCT
fsr-3132	268	8	the	the	DET
fsr-3132	268	9	more	more	ADV
fsr-3132	268	10	conservative	conservative	ADJ
fsr-3132	268	11	should	should	AUX
fsr-3132	268	12	be	be	AUX
fsr-3132	268	13	her	her	PRON
fsr-3132	268	14	strategy	strategy	NOUN
fsr-3132	268	15	,	,	PUNCT
fsr-3132	268	16	keeping	keep	VERB
fsr-3132	268	17	both	both	DET
fsr-3132	268	18	the	the	DET
fsr-3132	268	19	beginning	beginning	NOUN
fsr-3132	268	20	and	and	CCONJ
fsr-3132	268	21	ending	end	VERB
fsr-3132	268	22	equity	equity	NOUN
fsr-3132	268	23	allocation	allocation	NOUN
fsr-3132	268	24	at	at	ADP
fsr-3132	268	25	lower	low	ADJ
fsr-3132	268	26	levels	level	NOUN
fsr-3132	268	27	.	.	PUNCT
fsr-3132	269	1	for	for	ADP
fsr-3132	269	2	the	the	DET
fsr-3132	269	3	investor	investor	NOUN
fsr-3132	269	4	whose	whose	DET
fsr-3132	269	5	risk	risk	NOUN
fsr-3132	269	6	aversion	aversion	NOUN
fsr-3132	269	7	in	in	ADP
fsr-3132	269	8	the	the	DET
fsr-3132	269	9	beginning	beginning	NOUN
fsr-3132	269	10	of	of	ADP
fsr-3132	269	11	the	the	DET
fsr-3132	269	12	accumulation	accumulation	NOUN
fsr-3132	269	13	period	period	NOUN
fsr-3132	269	14	is	be	AUX
fsr-3132	269	15	2	2	NUM
fsr-3132	269	16	,	,	PUNCT
fsr-3132	269	17	although	although	SCONJ
fsr-3132	269	18	the	the	DET
fsr-3132	269	19	table	table	NOUN
fsr-3132	269	20	5	5	NUM
fsr-3132	269	21	expected	expect	VERB
fsr-3132	269	22	utility	utility	NOUN
fsr-3132	269	23	with	with	ADP
fsr-3132	269	24	kinked	kinked	ADJ
fsr-3132	269	25	glide	glide	PROPN
fsr-3132	269	26	path	path	NOUN
fsr-3132	269	27	and/or	and/or	CCONJ
fsr-3132	269	28	risk	risk	NOUN
fsr-3132	269	29	aversion	aversion	NOUN
fsr-3132	269	30	risk	risk	NOUN
fsr-3132	269	31	aversion	aversion	NOUN
fsr-3132	269	32	best	good	ADJ
fsr-3132	269	33	lifestyle	lifestyle	NOUN
fsr-3132	269	34	strategy	strategy	NOUN
fsr-3132	269	35	lifecycle	lifecycle	NOUN
fsr-3132	269	36	strategies	strategy	NOUN
fsr-3132	269	37	best	good	ADJ
fsr-3132	269	38	theoretical	theoretical	ADJ
fsr-3132	269	39	lifecycle	lifecycle	NOUN
fsr-3132	269	40	strategy	strategy	NOUN
fsr-3132	269	41	t	t	PROPN
fsr-3132	269	42	-	-	PUNCT
fsr-3132	269	43	stat	stat	PROPN
fsr-3132	269	44	e(u	e(u	PROPN
fsr-3132	269	45	)	)	PUNCT
fsr-3132	269	46	equity	equity	NOUN
fsr-3132	269	47	90	90	NUM
fsr-3132	269	48	to	to	PART
fsr-3132	269	49	50	50	NUM
fsr-3132	269	50	90	90	NUM
fsr-3132	269	51	to	to	PART
fsr-3132	269	52	40	40	NUM
fsr-3132	269	53	90	90	NUM
fsr-3132	269	54	to	to	PART
fsr-3132	269	55	30	30	NUM
fsr-3132	269	56	90	90	NUM
fsr-3132	269	57	to	to	PART
fsr-3132	269	58	20	20	NUM
fsr-3132	269	59	80	80	NUM
fsr-3132	269	60	to	to	PART
fsr-3132	269	61	40	40	NUM
fsr-3132	269	62	80	80	NUM
fsr-3132	269	63	to	to	PART
fsr-3132	269	64	30	30	NUM
fsr-3132	269	65	80	80	NUM
fsr-3132	269	66	to	to	PART
fsr-3132	269	67	20	20	NUM
fsr-3132	269	68	glide	glide	NOUN
fsr-3132	269	69	path	path	NOUN
fsr-3132	269	70	panel	panel	NOUN
fsr-3132	269	71	a	a	DET
fsr-3132	269	72	:	:	PUNCT
fsr-3132	269	73	glide	glide	NOUN
fsr-3132	269	74	path	path	NOUN
fsr-3132	269	75	kinked	kink	VERB
fsr-3132	269	76	at	at	ADP
fsr-3132	269	77	30	30	NUM
fsr-3132	269	78	years	year	NOUN
fsr-3132	269	79	before	before	ADP
fsr-3132	269	80	target	target	NOUN
fsr-3132	269	81	year	year	NOUN
fsr-3132	269	82	,	,	PUNCT
fsr-3132	269	83	risk	risk	NOUN
fsr-3132	269	84	aversion	aversion	NOUN
fsr-3132	269	85	linear	linear	ADJ
fsr-3132	269	86	0	0	NUM
fsr-3132	269	87	to	to	ADP
fsr-3132	269	88	4	4	NUM
fsr-3132	269	89	3.284	3.284	NUM
fsr-3132	269	90	55	55	NUM
fsr-3132	269	91	%	%	NOUN
fsr-3132	269	92	2.4	2.4	NUM
fsr-3132	269	93	%	%	NOUN
fsr-3132	269	94	3.3	3.3	NUM
fsr-3132	269	95	%	%	NOUN
fsr-3132	269	96	3.9	3.9	NUM
fsr-3132	269	97	%	%	NOUN
fsr-3132	269	98	4.1	4.1	NUM
fsr-3132	269	99	%	%	NOUN
fsr-3132	269	100	3.0	3.0	NUM
fsr-3132	269	101	%	%	NOUN
fsr-3132	269	102	3.4	3.4	NUM
fsr-3132	269	103	%	%	NOUN
fsr-3132	269	104	3.4	3.4	NUM
fsr-3132	269	105	%	%	NOUN
fsr-3132	269	106	4.5	4.5	NUM
fsr-3132	269	107	%	%	NOUN
fsr-3132	269	108	100	100	NUM
fsr-3132	269	109	to	to	PART
fsr-3132	269	110	15	15	NUM
fsr-3132	269	111	37.59	37.59	NUM
fsr-3132	269	112	*	*	PUNCT
fsr-3132	269	113	*	*	NOUN
fsr-3132	269	114	0	0	NUM
fsr-3132	269	115	to	to	ADP
fsr-3132	269	116	6	6	NUM
fsr-3132	269	117	3.075	3.075	NUM
fsr-3132	269	118	40	40	NUM
fsr-3132	269	119	%	%	NOUN
fsr-3132	269	120	�	�	NOUN
fsr-3132	269	121	8.9	8.9	NUM
fsr-3132	269	122	%	%	NOUN
fsr-3132	269	123	�	�	NOUN
fsr-3132	269	124	0.2	0.2	NUM
fsr-3132	269	125	%	%	NOUN
fsr-3132	269	126	1.6	1.6	NUM
fsr-3132	269	127	%	%	NOUN
fsr-3132	269	128	2.7	2.7	NUM
fsr-3132	269	129	%	%	NOUN
fsr-3132	269	130	0.7	0.7	NUM
fsr-3132	269	131	%	%	NOUN
fsr-3132	269	132	2.2	2.2	NUM
fsr-3132	269	133	%	%	NOUN
fsr-3132	269	134	3.1	3.1	NUM
fsr-3132	269	135	%	%	NOUN
fsr-3132	269	136	3.4	3.4	NUM
fsr-3132	269	137	%	%	NOUN
fsr-3132	269	138	80	80	NUM
fsr-3132	269	139	to	to	PART
fsr-3132	269	140	10	10	NUM
fsr-3132	269	141	26.12	26.12	NUM
fsr-3132	269	142	*	*	NOUN
fsr-3132	269	143	*	*	SYM
fsr-3132	269	144	2	2	NUM
fsr-3132	269	145	to	to	ADP
fsr-3132	269	146	4	4	NUM
fsr-3132	269	147	3.051	3.051	NUM
fsr-3132	269	148	40	40	NUM
fsr-3132	269	149	%	%	NOUN
fsr-3132	269	150	�	�	NOUN
fsr-3132	269	151	9.2	9.2	NUM
fsr-3132	269	152	%	%	NOUN
fsr-3132	269	153	�	�	PROPN
fsr-3132	269	154	7.6	7.6	NUM
fsr-3132	269	155	%	%	NOUN
fsr-3132	269	156	�	�	NOUN
fsr-3132	269	157	6.5	6.5	NUM
fsr-3132	269	158	%	%	NOUN
fsr-3132	269	159	�	�	PROPN
fsr-3132	269	160	5.8	5.8	NUM
fsr-3132	269	161	%	%	NOUN
fsr-3132	269	162	�	�	NOUN
fsr-3132	269	163	4.6	4.6	NUM
fsr-3132	269	164	%	%	NOUN
fsr-3132	269	165	�	�	NOUN
fsr-3132	269	166	3.7	3.7	NUM
fsr-3132	269	167	%	%	NOUN
fsr-3132	269	168	�	�	NOUN
fsr-3132	269	169	3.2	3.2	NUM
fsr-3132	269	170	%	%	NOUN
fsr-3132	269	171	0.3	0.3	NUM
fsr-3132	269	172	%	%	NOUN
fsr-3132	269	173	45	45	NUM
fsr-3132	269	174	to	to	PART
fsr-3132	269	175	30	30	NUM
fsr-3132	269	176	28.20	28.20	NUM
fsr-3132	269	177	*	*	PUNCT
fsr-3132	269	178	*	*	SYM
fsr-3132	269	179	2	2	NUM
fsr-3132	269	180	to	to	ADP
fsr-3132	269	181	6	6	NUM
fsr-3132	269	182	2.903	2.903	NUM
fsr-3132	269	183	35	35	NUM
fsr-3132	269	184	%	%	NOUN
fsr-3132	269	185	�	�	NOUN
fsr-3132	269	186	17.2	17.2	NUM
fsr-3132	269	187	%	%	NOUN
fsr-3132	269	188	�	�	NOUN
fsr-3132	269	189	14.1	14.1	NUM
fsr-3132	269	190	%	%	NOUN
fsr-3132	269	191	�	�	NOUN
fsr-3132	269	192	11.7	11.7	NUM
fsr-3132	269	193	%	%	NOUN
fsr-3132	269	194	�	�	PROPN
fsr-3132	269	195	10.0	10.0	NUM
fsr-3132	269	196	%	%	NOUN
fsr-3132	269	197	�	�	NOUN
fsr-3132	269	198	9.5	9.5	NUM
fsr-3132	269	199	%	%	NOUN
fsr-3132	269	200	�	�	NOUN
fsr-3132	269	201	7.4	7.4	NUM
fsr-3132	269	202	%	%	NOUN
fsr-3132	269	203	�	�	NOUN
fsr-3132	269	204	6.1	6.1	NUM
fsr-3132	269	205	%	%	NOUN
fsr-3132	269	206	0.6	0.6	NUM
fsr-3132	269	207	%	%	NOUN
fsr-3132	269	208	40	40	NUM
fsr-3132	269	209	to	to	PART
fsr-3132	269	210	20	20	NUM
fsr-3132	269	211	29.76	29.76	NUM
fsr-3132	269	212	*	*	PUNCT
fsr-3132	269	213	*	*	PROPN
fsr-3132	269	214	panel	panel	PROPN
fsr-3132	269	215	b	b	NOUN
fsr-3132	269	216	:	:	PUNCT
fsr-3132	269	217	glide	glide	NOUN
fsr-3132	269	218	path	path	PROPN
fsr-3132	269	219	linear	linear	PROPN
fsr-3132	269	220	,	,	PUNCT
fsr-3132	269	221	risk	risk	NOUN
fsr-3132	269	222	aversion	aversion	NOUN
fsr-3132	269	223	kinked	kink	VERB
fsr-3132	269	224	at	at	ADP
fsr-3132	269	225	30	30	NUM
fsr-3132	269	226	years	year	NOUN
fsr-3132	269	227	before	before	ADP
fsr-3132	269	228	target	target	VERB
fsr-3132	269	229	retirement	retirement	NOUN
fsr-3132	269	230	0	0	NUM
fsr-3132	269	231	to	to	ADP
fsr-3132	269	232	4	4	NUM
fsr-3132	269	233	3.445	3.445	NUM
fsr-3132	269	234	75	75	NUM
fsr-3132	269	235	%	%	NOUN
fsr-3132	269	236	4.0	4.0	NUM
fsr-3132	269	237	%	%	NOUN
fsr-3132	269	238	4.2	4.2	NUM
fsr-3132	269	239	%	%	NOUN
fsr-3132	269	240	4.1	4.1	NUM
fsr-3132	269	241	%	%	NOUN
fsr-3132	269	242	3.6	3.6	NUM
fsr-3132	269	243	%	%	NOUN
fsr-3132	269	244	2.8	2.8	NUM
fsr-3132	269	245	%	%	NOUN
fsr-3132	269	246	2.6	2.6	NUM
fsr-3132	269	247	%	%	NOUN
fsr-3132	269	248	1.9	1.9	NUM
fsr-3132	269	249	%	%	NOUN
fsr-3132	269	250	5.6	5.6	NUM
fsr-3132	269	251	%	%	NOUN
fsr-3132	269	252	100	100	NUM
fsr-3132	269	253	to	to	PART
fsr-3132	269	254	35	35	NUM
fsr-3132	269	255	125.9	125.9	NUM
fsr-3132	269	256	*	*	PUNCT
fsr-3132	269	257	*	*	NOUN
fsr-3132	269	258	0	0	NUM
fsr-3132	269	259	to	to	ADP
fsr-3132	269	260	6	6	NUM
fsr-3132	269	261	3.222	3.222	NUM
fsr-3132	269	262	50	50	NUM
fsr-3132	269	263	%	%	NOUN
fsr-3132	269	264	4.3	4.3	NUM
fsr-3132	269	265	%	%	NOUN
fsr-3132	269	266	5.7	5.7	NUM
fsr-3132	269	267	%	%	NOUN
fsr-3132	269	268	6.6	6.6	NUM
fsr-3132	269	269	%	%	NOUN
fsr-3132	269	270	6.8	6.8	NUM
fsr-3132	269	271	%	%	NOUN
fsr-3132	269	272	4.7	4.7	NUM
fsr-3132	269	273	%	%	NOUN
fsr-3132	269	274	5.3	5.3	NUM
fsr-3132	269	275	%	%	NOUN
fsr-3132	269	276	5.4	5.4	NUM
fsr-3132	269	277	%	%	NOUN
fsr-3132	269	278	8.1	8.1	NUM
fsr-3132	269	279	%	%	NOUN
fsr-3132	269	280	100	100	NUM
fsr-3132	269	281	to	to	PART
fsr-3132	269	282	20	20	NUM
fsr-3132	269	283	101.9	101.9	NUM
fsr-3132	269	284	*	*	PUNCT
fsr-3132	269	285	*	*	SYM
fsr-3132	269	286	2	2	NUM
fsr-3132	269	287	to	to	ADP
fsr-3132	269	288	4	4	NUM
fsr-3132	269	289	3.092	3.092	NUM
fsr-3132	269	290	40	40	NUM
fsr-3132	269	291	%	%	NOUN
fsr-3132	269	292	�	�	NOUN
fsr-3132	269	293	4.6	4.6	NUM
fsr-3132	269	294	%	%	NOUN
fsr-3132	269	295	�	�	NOUN
fsr-3132	269	296	3.0	3.0	NUM
fsr-3132	269	297	%	%	NOUN
fsr-3132	269	298	�	�	NOUN
fsr-3132	269	299	2.0	2.0	NUM
fsr-3132	269	300	%	%	NOUN
fsr-3132	269	301	�	�	NOUN
fsr-3132	269	302	1.5	1.5	NUM
fsr-3132	269	303	%	%	NOUN
fsr-3132	269	304	�	�	NOUN
fsr-3132	269	305	1.5	1.5	NUM
fsr-3132	269	306	%	%	NOUN
fsr-3132	269	307	�	�	NOUN
fsr-3132	269	308	0.7	0.7	NUM
fsr-3132	269	309	%	%	NOUN
fsr-3132	269	310	�	�	NOUN
fsr-3132	269	311	0.5	0.5	NUM
fsr-3132	269	312	%	%	NOUN
fsr-3132	269	313	0.5	0.5	NUM
fsr-3132	269	314	%	%	NOUN
fsr-3132	269	315	55	55	NUM
fsr-3132	269	316	to	to	PART
fsr-3132	269	317	30	30	NUM
fsr-3132	269	318	17.07	17.07	NUM
fsr-3132	269	319	*	*	PUNCT
fsr-3132	269	320	*	*	PROPN
fsr-3132	269	321	2	2	NUM
fsr-3132	269	322	to	to	ADP
fsr-3132	269	323	6	6	NUM
fsr-3132	269	324	2.974	2.974	NUM
fsr-3132	269	325	35	35	NUM
fsr-3132	269	326	%	%	NOUN
fsr-3132	269	327	�	�	NOUN
fsr-3132	269	328	8.3	8.3	NUM
fsr-3132	269	329	%	%	NOUN
fsr-3132	269	330	�	�	PROPN
fsr-3132	269	331	5.3	5.3	NUM
fsr-3132	269	332	%	%	NOUN
fsr-3132	269	333	�	�	NOUN
fsr-3132	269	334	3.2	3.2	NUM
fsr-3132	269	335	%	%	NOUN
fsr-3132	269	336	�	�	NOUN
fsr-3132	269	337	1.8	1.8	NUM
fsr-3132	269	338	%	%	NOUN
fsr-3132	269	339	�	�	NOUN
fsr-3132	269	340	3.3	3.3	NUM
fsr-3132	269	341	%	%	NOUN
fsr-3132	269	342	�	�	NOUN
fsr-3132	269	343	1.5	1.5	NUM
fsr-3132	269	344	%	%	NOUN
fsr-3132	269	345	�	�	NOUN
fsr-3132	269	346	0.4	0.4	NUM
fsr-3132	269	347	%	%	NOUN
fsr-3132	269	348	1.0	1.0	NUM
fsr-3132	269	349	%	%	NOUN
fsr-3132	269	350	55	55	NUM
fsr-3132	269	351	to	to	PART
fsr-3132	269	352	20	20	NUM
fsr-3132	269	353	30.34	30.34	NUM
fsr-3132	269	354	*	*	PUNCT
fsr-3132	269	355	*	*	PUNCT
fsr-3132	269	356	panel	panel	NOUN
fsr-3132	269	357	c	c	NOUN
fsr-3132	269	358	:	:	PUNCT
fsr-3132	269	359	both	both	DET
fsr-3132	269	360	glide	glide	ADJ
fsr-3132	269	361	path	path	NOUN
fsr-3132	269	362	and	and	CCONJ
fsr-3132	269	363	risk	risk	NOUN
fsr-3132	269	364	aversion	aversion	NOUN
fsr-3132	269	365	kinked	kink	VERB
fsr-3132	269	366	at	at	ADP
fsr-3132	269	367	30	30	NUM
fsr-3132	269	368	years	year	NOUN
fsr-3132	269	369	before	before	ADP
fsr-3132	269	370	target	target	VERB
fsr-3132	269	371	retirement	retirement	NOUN
fsr-3132	269	372	0	0	NUM
fsr-3132	269	373	to	to	ADP
fsr-3132	269	374	4	4	NUM
fsr-3132	269	375	3.445	3.445	NUM
fsr-3132	269	376	75	75	NUM
fsr-3132	269	377	%	%	NOUN
fsr-3132	269	378	4.7	4.7	NUM
fsr-3132	269	379	%	%	NOUN
fsr-3132	269	380	5.3	5.3	NUM
fsr-3132	269	381	%	%	NOUN
fsr-3132	269	382	5.5	5.5	NUM
fsr-3132	269	383	%	%	NOUN
fsr-3132	269	384	5.5	5.5	NUM
fsr-3132	269	385	%	%	NOUN
fsr-3132	269	386	3.7	3.7	NUM
fsr-3132	269	387	%	%	NOUN
fsr-3132	269	388	3.9	3.9	NUM
fsr-3132	269	389	%	%	NOUN
fsr-3132	269	390	3.7	3.7	NUM
fsr-3132	269	391	%	%	NOUN
fsr-3132	269	392	7.1	7.1	NUM
fsr-3132	269	393	%	%	NOUN
fsr-3132	269	394	100	100	NUM
fsr-3132	269	395	to	to	PART
fsr-3132	269	396	25	25	NUM
fsr-3132	269	397	169.8	169.8	NUM
fsr-3132	269	398	*	*	PUNCT
fsr-3132	269	399	*	*	NOUN
fsr-3132	269	400	0	0	NUM
fsr-3132	269	401	to	to	ADP
fsr-3132	269	402	6	6	NUM
fsr-3132	269	403	3.222	3.222	NUM
fsr-3132	269	404	50	50	NUM
fsr-3132	269	405	%	%	NOUN
fsr-3132	269	406	4.4	4.4	NUM
fsr-3132	269	407	%	%	NOUN
fsr-3132	269	408	6.1	6.1	NUM
fsr-3132	269	409	%	%	NOUN
fsr-3132	269	410	7.3	7.3	NUM
fsr-3132	269	411	%	%	NOUN
fsr-3132	269	412	8.0	8.0	NUM
fsr-3132	269	413	%	%	NOUN
fsr-3132	269	414	5.1	5.1	NUM
fsr-3132	269	415	%	%	NOUN
fsr-3132	269	416	6.1	6.1	NUM
fsr-3132	269	417	%	%	NOUN
fsr-3132	269	418	6.6	6.6	NUM
fsr-3132	269	419	%	%	NOUN
fsr-3132	269	420	9.4	9.4	NUM
fsr-3132	269	421	%	%	NOUN
fsr-3132	269	422	100	100	NUM
fsr-3132	269	423	to	to	PART
fsr-3132	269	424	10	10	NUM
fsr-3132	269	425	78.17	78.17	NUM
fsr-3132	269	426	*	*	PUNCT
fsr-3132	269	427	*	*	SYM
fsr-3132	269	428	2	2	NUM
fsr-3132	269	429	to	to	ADP
fsr-3132	269	430	4	4	NUM
fsr-3132	269	431	3.092	3.092	NUM
fsr-3132	269	432	40	40	NUM
fsr-3132	269	433	%	%	NOUN
fsr-3132	269	434	�	�	NOUN
fsr-3132	269	435	6.5	6.5	NUM
fsr-3132	269	436	%	%	NOUN
fsr-3132	269	437	�	�	NOUN
fsr-3132	269	438	5.1	5.1	NUM
fsr-3132	269	439	%	%	NOUN
fsr-3132	269	440	�	�	NOUN
fsr-3132	269	441	4.1	4.1	NUM
fsr-3132	269	442	%	%	NOUN
fsr-3132	269	443	�	�	NOUN
fsr-3132	269	444	3.6	3.6	NUM
fsr-3132	269	445	%	%	NOUN
fsr-3132	269	446	�	�	NOUN
fsr-3132	269	447	2.8	2.8	NUM
fsr-3132	269	448	%	%	NOUN
fsr-3132	269	449	�	�	NOUN
fsr-3132	269	450	2.0	2.0	NUM
fsr-3132	269	451	%	%	NOUN
fsr-3132	269	452	�	�	PROPN
fsr-3132	269	453	1.7	1.7	NUM
fsr-3132	269	454	%	%	NOUN
fsr-3132	269	455	0.5	0.5	NUM
fsr-3132	269	456	%	%	NOUN
fsr-3132	269	457	55	55	NUM
fsr-3132	269	458	to	to	PART
fsr-3132	269	459	30	30	NUM
fsr-3132	269	460	8.68	8.68	NUM
fsr-3132	269	461	*	*	PUNCT
fsr-3132	269	462	*	*	PROPN
fsr-3132	269	463	2	2	NUM
fsr-3132	269	464	to	to	ADP
fsr-3132	269	465	6	6	NUM
fsr-3132	269	466	2.974	2.974	NUM
fsr-3132	269	467	35	35	NUM
fsr-3132	269	468	%	%	NOUN
fsr-3132	269	469	�	�	NOUN
fsr-3132	269	470	11.0	11.0	NUM
fsr-3132	269	471	%	%	NOUN
fsr-3132	269	472	�	�	NOUN
fsr-3132	269	473	8.3	8.3	NUM
fsr-3132	269	474	%	%	NOUN
fsr-3132	269	475	�	�	PROPN
fsr-3132	269	476	6.3	6.3	NUM
fsr-3132	269	477	%	%	NOUN
fsr-3132	269	478	�	�	PROPN
fsr-3132	269	479	3.4	3.4	NUM
fsr-3132	269	480	%	%	NOUN
fsr-3132	269	481	�	�	NOUN
fsr-3132	269	482	5.2	5.2	NUM
fsr-3132	269	483	%	%	NOUN
fsr-3132	269	484	�	�	NOUN
fsr-3132	269	485	3.5	3.5	NUM
fsr-3132	269	486	%	%	NOUN
fsr-3132	269	487	�	�	NOUN
fsr-3132	269	488	2.4	2.4	NUM
fsr-3132	269	489	%	%	NOUN
fsr-3132	269	490	0.9	0.9	NUM
fsr-3132	269	491	%	%	NOUN
fsr-3132	269	492	50	50	NUM
fsr-3132	269	493	to	to	PART
fsr-3132	269	494	20	20	NUM
fsr-3132	269	495	17.18	17.18	NUM
fsr-3132	269	496	*	*	PUNCT
fsr-3132	269	497	*	*	NOUN
fsr-3132	269	498	notes	note	NOUN
fsr-3132	269	499	.	.	PUNCT
fsr-3132	270	1	the	the	DET
fsr-3132	270	2	table	table	NOUN
fsr-3132	270	3	reports	report	VERB
fsr-3132	270	4	the	the	DET
fsr-3132	270	5	best	good	ADJ
fsr-3132	270	6	lifestyle	lifestyle	NOUN
fsr-3132	270	7	strategy	strategy	NOUN
fsr-3132	270	8	as	as	ADP
fsr-3132	270	9	a	a	DET
fsr-3132	270	10	benchmark	benchmark	NOUN
fsr-3132	270	11	for	for	ADP
fsr-3132	270	12	the	the	DET
fsr-3132	270	13	expected	expect	VERB
fsr-3132	270	14	utility	utility	NOUN
fsr-3132	270	15	(	(	PUNCT
fsr-3132	270	16	e(u	e(u	PROPN
fsr-3132	270	17	)	)	PUNCT
fsr-3132	270	18	)	)	PUNCT
fsr-3132	270	19	of	of	ADP
fsr-3132	270	20	the	the	DET
fsr-3132	270	21	lifecycle	lifecycle	NOUN
fsr-3132	270	22	strategies	strategy	NOUN
fsr-3132	270	23	.	.	PUNCT
fsr-3132	271	1	the	the	DET
fsr-3132	271	2	results	result	NOUN
fsr-3132	271	3	for	for	ADP
fsr-3132	271	4	the	the	DET
fsr-3132	271	5	lifecycle	lifecycle	NOUN
fsr-3132	271	6	strategies	strategy	NOUN
fsr-3132	271	7	are	be	AUX
fsr-3132	271	8	reported	report	VERB
fsr-3132	271	9	as	as	ADP
fsr-3132	271	10	a	a	DET
fsr-3132	271	11	percentage	percentage	NOUN
fsr-3132	271	12	difference	difference	NOUN
fsr-3132	271	13	from	from	ADP
fsr-3132	271	14	that	that	DET
fsr-3132	271	15	benchmark	benchmark	NOUN
fsr-3132	271	16	.	.	PUNCT
fsr-3132	272	1	the	the	DET
fsr-3132	272	2	last	last	ADJ
fsr-3132	272	3	three	three	NUM
fsr-3132	272	4	columns	column	NOUN
fsr-3132	272	5	compare	compare	VERB
fsr-3132	272	6	the	the	DET
fsr-3132	272	7	best	good	ADJ
fsr-3132	272	8	lifecycle	lifecycle	NOUN
fsr-3132	272	9	strategy	strategy	NOUN
fsr-3132	272	10	with	with	ADP
fsr-3132	272	11	the	the	DET
fsr-3132	272	12	best	good	ADJ
fsr-3132	272	13	lifestyle	lifestyle	NOUN
fsr-3132	272	14	strategy	strategy	NOUN
fsr-3132	272	15	by	by	ADP
fsr-3132	272	16	reporting	report	VERB
fsr-3132	272	17	the	the	DET
fsr-3132	272	18	percentage	percentage	NOUN
fsr-3132	272	19	difference	difference	NOUN
fsr-3132	272	20	,	,	PUNCT
fsr-3132	272	21	the	the	DET
fsr-3132	272	22	original	original	ADJ
fsr-3132	272	23	40	40	NUM
fsr-3132	272	24	year	year	NOUN
fsr-3132	272	25	glide	glide	NOUN
fsr-3132	272	26	path	path	NOUN
fsr-3132	272	27	(	(	PUNCT
fsr-3132	272	28	beginning	begin	VERB
fsr-3132	272	29	and	and	CCONJ
fsr-3132	272	30	ending	end	VERB
fsr-3132	272	31	level	level	NOUN
fsr-3132	272	32	of	of	ADP
fsr-3132	272	33	equity	equity	NOUN
fsr-3132	272	34	)	)	PUNCT
fsr-3132	272	35	,	,	PUNCT
fsr-3132	272	36	and	and	CCONJ
fsr-3132	272	37	the	the	DET
fsr-3132	272	38	t	t	PROPN
fsr-3132	272	39	-	-	PUNCT
fsr-3132	272	40	statistics	statistic	NOUN
fsr-3132	272	41	.	.	PUNCT
fsr-3132	273	1	*	*	PUNCT
fsr-3132	273	2	*	*	PUNCT
fsr-3132	273	3	denotes	denote	NOUN
fsr-3132	273	4	significance	significance	NOUN
fsr-3132	273	5	at	at	ADP
fsr-3132	273	6	the	the	DET
fsr-3132	273	7	1	1	NUM
fsr-3132	273	8	%	%	NOUN
fsr-3132	273	9	level	level	NOUN
fsr-3132	273	10	.	.	PUNCT
fsr-3132	274	1	panel	panel	NOUN
fsr-3132	274	2	a	a	PRON
fsr-3132	274	3	of	of	ADP
fsr-3132	274	4	the	the	DET
fsr-3132	274	5	table	table	NOUN
fsr-3132	274	6	reports	report	VERB
fsr-3132	274	7	the	the	DET
fsr-3132	274	8	results	result	NOUN
fsr-3132	274	9	for	for	ADP
fsr-3132	274	10	different	different	ADJ
fsr-3132	274	11	lifecycle	lifecycle	NOUN
fsr-3132	274	12	strategies	strategy	NOUN
fsr-3132	274	13	that	that	PRON
fsr-3132	274	14	keep	keep	VERB
fsr-3132	274	15	the	the	DET
fsr-3132	274	16	level	level	NOUN
fsr-3132	274	17	of	of	ADP
fsr-3132	274	18	equity	equity	NOUN
fsr-3132	274	19	at	at	ADP
fsr-3132	274	20	the	the	DET
fsr-3132	274	21	maximum	maximum	NOUN
fsr-3132	274	22	for	for	ADP
fsr-3132	274	23	the	the	DET
fsr-3132	274	24	first	first	ADJ
fsr-3132	274	25	10	10	NUM
fsr-3132	274	26	years	year	NOUN
fsr-3132	274	27	of	of	ADP
fsr-3132	274	28	the	the	DET
fsr-3132	274	29	accumulation	accumulation	NOUN
fsr-3132	274	30	period	period	NOUN
fsr-3132	274	31	.	.	PUNCT
fsr-3132	275	1	investor	investor	NOUN
fsr-3132	275	2	’s	’s	PART
fsr-3132	275	3	risk	risk	NOUN
fsr-3132	275	4	aversion	aversion	NOUN
fsr-3132	275	5	is	be	AUX
fsr-3132	275	6	assumed	assume	VERB
fsr-3132	275	7	to	to	PART
fsr-3132	275	8	increase	increase	VERB
fsr-3132	275	9	smoothly	smoothly	ADV
fsr-3132	275	10	over	over	ADP
fsr-3132	275	11	the	the	DET
fsr-3132	275	12	accumulation	accumulation	NOUN
fsr-3132	275	13	period	period	NOUN
fsr-3132	275	14	.	.	PUNCT
fsr-3132	276	1	panel	panel	NOUN
fsr-3132	276	2	b	b	PROPN
fsr-3132	276	3	reports	report	VERB
fsr-3132	276	4	the	the	DET
fsr-3132	276	5	results	result	NOUN
fsr-3132	276	6	for	for	ADP
fsr-3132	276	7	lifecycle	lifecycle	NOUN
fsr-3132	276	8	strategies	strategy	NOUN
fsr-3132	276	9	with	with	ADP
fsr-3132	276	10	smooth	smooth	ADJ
fsr-3132	276	11	(	(	PUNCT
fsr-3132	276	12	linear	linear	ADJ
fsr-3132	276	13	)	)	PUNCT
fsr-3132	276	14	glide	glide	NOUN
fsr-3132	276	15	path	path	NOUN
fsr-3132	276	16	,	,	PUNCT
fsr-3132	276	17	but	but	CCONJ
fsr-3132	276	18	assumes	assume	VERB
fsr-3132	276	19	that	that	SCONJ
fsr-3132	276	20	the	the	DET
fsr-3132	276	21	investor	investor	NOUN
fsr-3132	276	22	’s	’s	PART
fsr-3132	276	23	risk	risk	NOUN
fsr-3132	276	24	aversion	aversion	NOUN
fsr-3132	276	25	is	be	AUX
fsr-3132	276	26	constant	constant	ADJ
fsr-3132	276	27	for	for	ADP
fsr-3132	276	28	the	the	DET
fsr-3132	276	29	first	first	ADJ
fsr-3132	276	30	10	10	NUM
fsr-3132	276	31	years	year	NOUN
fsr-3132	276	32	and	and	CCONJ
fsr-3132	276	33	starts	start	VERB
fsr-3132	276	34	increasing	increase	VERB
fsr-3132	276	35	only	only	ADV
fsr-3132	276	36	30	30	NUM
fsr-3132	276	37	years	year	NOUN
fsr-3132	276	38	before	before	ADP
fsr-3132	276	39	target	target	NOUN
fsr-3132	276	40	date	date	NOUN
fsr-3132	276	41	.	.	PUNCT
fsr-3132	277	1	panel	panel	NOUN
fsr-3132	277	2	c	c	PROPN
fsr-3132	277	3	reports	report	VERB
fsr-3132	277	4	the	the	DET
fsr-3132	277	5	results	result	NOUN
fsr-3132	277	6	for	for	ADP
fsr-3132	277	7	the	the	DET
fsr-3132	277	8	lifecycle	lifecycle	NOUN
fsr-3132	277	9	strategies	strategy	NOUN
fsr-3132	277	10	with	with	ADP
fsr-3132	277	11	the	the	DET
fsr-3132	277	12	kink	kink	NOUN
fsr-3132	277	13	in	in	ADP
fsr-3132	277	14	the	the	DET
fsr-3132	277	15	glide	glide	NOUN
fsr-3132	277	16	path	path	NOUN
fsr-3132	277	17	at	at	ADP
fsr-3132	277	18	30	30	NUM
fsr-3132	277	19	years	year	NOUN
fsr-3132	277	20	before	before	ADP
fsr-3132	277	21	the	the	DET
fsr-3132	277	22	target	target	NOUN
fsr-3132	277	23	year	year	NOUN
fsr-3132	277	24	and	and	CCONJ
fsr-3132	277	25	also	also	ADV
fsr-3132	277	26	assumes	assume	VERB
fsr-3132	277	27	that	that	SCONJ
fsr-3132	277	28	the	the	DET
fsr-3132	277	29	investor	investor	NOUN
fsr-3132	277	30	’s	’s	PART
fsr-3132	277	31	risk	risk	NOUN
fsr-3132	277	32	aversion	aversion	NOUN
fsr-3132	277	33	starts	start	VERB
fsr-3132	277	34	increasing	increase	VERB
fsr-3132	277	35	only	only	ADV
fsr-3132	277	36	at	at	ADP
fsr-3132	277	37	30	30	NUM
fsr-3132	277	38	years	year	NOUN
fsr-3132	277	39	before	before	ADP
fsr-3132	277	40	the	the	DET
fsr-3132	277	41	target	target	NOUN
fsr-3132	277	42	retirement	retirement	NOUN
fsr-3132	277	43	.	.	PUNCT
fsr-3132	278	1	the	the	DET
fsr-3132	278	2	full	full	ADJ
fsr-3132	278	3	accumulation	accumulation	NOUN
fsr-3132	278	4	period	period	NOUN
fsr-3132	278	5	is	be	AUX
fsr-3132	278	6	assumed	assume	VERB
fsr-3132	278	7	to	to	PART
fsr-3132	278	8	be	be	AUX
fsr-3132	278	9	40	40	NUM
fsr-3132	278	10	years	year	NOUN
fsr-3132	278	11	.	.	PUNCT
fsr-3132	279	1	183r.p	183r.p	NOUN
fsr-3132	279	2	.	.	PUNCT
fsr-3132	280	1	chang	chang	PROPN
fsr-3132	280	2	et	et	PROPN
fsr-3132	280	3	al	al	PROPN
fsr-3132	280	4	.	.	PUNCT
fsr-3132	280	5	/	/	SYM
fsr-3132	280	6	financial	financial	ADJ
fsr-3132	280	7	services	service	NOUN
fsr-3132	280	8	review	review	VERB
fsr-3132	280	9	23	23	NUM
fsr-3132	280	10	(	(	PUNCT
fsr-3132	280	11	2014	2014	NUM
fsr-3132	280	12	)	)	PUNCT
fsr-3132	280	13	169–188	169–188	NUM
fsr-3132	280	14	more	more	ADJ
fsr-3132	280	15	common	common	ADJ
fsr-3132	280	16	lifecycle	lifecycle	NOUN
fsr-3132	280	17	strategies	strategy	NOUN
fsr-3132	280	18	do	do	AUX
fsr-3132	280	19	not	not	PART
fsr-3132	280	20	yield	yield	VERB
fsr-3132	280	21	higher	high	ADJ
fsr-3132	280	22	expected	expect	VERB
fsr-3132	280	23	utility	utility	NOUN
fsr-3132	280	24	in	in	ADP
fsr-3132	280	25	comparison	comparison	NOUN
fsr-3132	280	26	with	with	ADP
fsr-3132	280	27	the	the	DET
fsr-3132	280	28	best	good	ADJ
fsr-3132	280	29	lifestyle	lifestyle	NOUN
fsr-3132	280	30	strategy	strategy	NOUN
fsr-3132	280	31	,	,	PUNCT
fsr-3132	280	32	a	a	DET
fsr-3132	280	33	very	very	ADV
fsr-3132	280	34	conservative	conservative	ADJ
fsr-3132	280	35	lifecycle	lifecycle	NOUN
fsr-3132	280	36	strategy	strategy	NOUN
fsr-3132	280	37	is	be	AUX
fsr-3132	280	38	still	still	ADV
fsr-3132	280	39	able	able	ADJ
fsr-3132	280	40	to	to	PART
fsr-3132	280	41	outperform	outperform	VERB
fsr-3132	280	42	this	this	DET
fsr-3132	280	43	constant	constant	ADJ
fsr-3132	280	44	equity	equity	NOUN
fsr-3132	280	45	strategy	strategy	NOUN
fsr-3132	280	46	.	.	PUNCT
fsr-3132	281	1	for	for	ADP
fsr-3132	281	2	example	example	NOUN
fsr-3132	281	3	,	,	PUNCT
fsr-3132	281	4	to	to	ADP
fsr-3132	281	5	the	the	DET
fsr-3132	281	6	investor	investor	NOUN
fsr-3132	281	7	with	with	ADP
fsr-3132	281	8	risk	risk	NOUN
fsr-3132	281	9	aversion	aversion	NOUN
fsr-3132	281	10	increasing	increase	VERB
fsr-3132	281	11	from	from	ADP
fsr-3132	281	12	2	2	NUM
fsr-3132	281	13	to	to	ADP
fsr-3132	281	14	6	6	NUM
fsr-3132	281	15	,	,	PUNCT
fsr-3132	281	16	the	the	DET
fsr-3132	281	17	best	good	ADJ
fsr-3132	281	18	strategy	strategy	NOUN
fsr-3132	281	19	is	be	AUX
fsr-3132	281	20	to	to	PART
fsr-3132	281	21	invest	invest	VERB
fsr-3132	281	22	in	in	ADP
fsr-3132	281	23	the	the	DET
fsr-3132	281	24	40	40	NUM
fsr-3132	281	25	%	%	NOUN
fsr-3132	281	26	to	to	PART
fsr-3132	281	27	20	20	NUM
fsr-3132	281	28	%	%	NOUN
fsr-3132	281	29	glide	glide	PROPN
fsr-3132	281	30	path	path	PROPN
fsr-3132	281	31	fund	fund	PROPN
fsr-3132	281	32	,	,	PUNCT
fsr-3132	281	33	which	which	PRON
fsr-3132	281	34	has	have	VERB
fsr-3132	281	35	a	a	DET
fsr-3132	281	36	utility	utility	NOUN
fsr-3132	281	37	significantly	significantly	ADV
fsr-3132	281	38	higher	high	ADJ
fsr-3132	281	39	than	than	ADP
fsr-3132	281	40	that	that	PRON
fsr-3132	281	41	of	of	ADP
fsr-3132	281	42	the	the	DET
fsr-3132	281	43	best	good	ADJ
fsr-3132	281	44	lifestyle	lifestyle	NOUN
fsr-3132	281	45	strategy	strategy	NOUN
fsr-3132	281	46	at	at	ADP
fsr-3132	281	47	the	the	DET
fsr-3132	281	48	1	1	NUM
fsr-3132	281	49	%	%	NOUN
fsr-3132	281	50	level	level	NOUN
fsr-3132	281	51	.	.	PUNCT
fsr-3132	282	1	we	we	PRON
fsr-3132	282	2	next	next	ADV
fsr-3132	282	3	examine	examine	VERB
fsr-3132	282	4	the	the	DET
fsr-3132	282	5	expected	expect	VERB
fsr-3132	282	6	utility	utility	NOUN
fsr-3132	282	7	for	for	ADP
fsr-3132	282	8	the	the	DET
fsr-3132	282	9	investor	investor	NOUN
fsr-3132	282	10	whose	whose	DET
fsr-3132	282	11	risk	risk	NOUN
fsr-3132	282	12	aversion	aversion	NOUN
fsr-3132	282	13	starts	start	VERB
fsr-3132	282	14	increasing	increase	VERB
fsr-3132	282	15	many	many	ADJ
fsr-3132	282	16	years	year	NOUN
fsr-3132	282	17	after	after	SCONJ
fsr-3132	282	18	she	she	PRON
fsr-3132	282	19	enters	enter	VERB
fsr-3132	282	20	the	the	DET
fsr-3132	282	21	work	work	NOUN
fsr-3132	282	22	force	force	NOUN
fsr-3132	282	23	and	and	CCONJ
fsr-3132	282	24	begins	begin	VERB
fsr-3132	282	25	making	make	VERB
fsr-3132	282	26	contributions	contribution	NOUN
fsr-3132	282	27	to	to	ADP
fsr-3132	282	28	the	the	DET
fsr-3132	282	29	chosen	choose	VERB
fsr-3132	282	30	retirement	retirement	NOUN
fsr-3132	282	31	plan	plan	NOUN
fsr-3132	282	32	;	;	PUNCT
fsr-3132	282	33	a	a	DET
fsr-3132	282	34	scenario	scenario	NOUN
fsr-3132	282	35	reported	report	VERB
fsr-3132	282	36	by	by	ADP
fsr-3132	282	37	poterba	poterba	NOUN
fsr-3132	282	38	and	and	CCONJ
fsr-3132	282	39	samwick	samwick	NOUN
fsr-3132	282	40	(	(	PUNCT
fsr-3132	282	41	1997	1997	NUM
fsr-3132	282	42	)	)	PUNCT
fsr-3132	282	43	.	.	PUNCT
fsr-3132	283	1	in	in	ADP
fsr-3132	283	2	the	the	DET
fsr-3132	283	3	beginning	beginning	NOUN
fsr-3132	283	4	of	of	ADP
fsr-3132	283	5	the	the	DET
fsr-3132	283	6	accumulation	accumulation	NOUN
fsr-3132	283	7	period	period	NOUN
fsr-3132	283	8	the	the	DET
fsr-3132	283	9	accumulated	accumulate	VERB
fsr-3132	283	10	capital	capital	NOUN
fsr-3132	283	11	is	be	AUX
fsr-3132	283	12	still	still	ADV
fsr-3132	283	13	small	small	ADJ
fsr-3132	283	14	and	and	CCONJ
fsr-3132	283	15	worries	worry	NOUN
fsr-3132	283	16	about	about	ADP
fsr-3132	283	17	potential	potential	ADJ
fsr-3132	283	18	losses	loss	NOUN
fsr-3132	283	19	are	be	AUX
fsr-3132	283	20	low	low	ADJ
fsr-3132	283	21	.	.	PUNCT
fsr-3132	284	1	certain	certain	ADJ
fsr-3132	284	2	changes	change	NOUN
fsr-3132	284	3	in	in	ADP
fsr-3132	284	4	life	life	NOUN
fsr-3132	284	5	can	can	AUX
fsr-3132	284	6	change	change	VERB
fsr-3132	284	7	the	the	DET
fsr-3132	284	8	investor	investor	NOUN
fsr-3132	284	9	’s	’s	PART
fsr-3132	284	10	risk	risk	NOUN
fsr-3132	284	11	tolerance	tolerance	NOUN
fsr-3132	284	12	;	;	PUNCT
fsr-3132	284	13	like	like	ADP
fsr-3132	284	14	for	for	ADP
fsr-3132	284	15	example	example	NOUN
fsr-3132	284	16	starting	start	VERB
fsr-3132	284	17	a	a	DET
fsr-3132	284	18	family	family	NOUN
fsr-3132	284	19	.	.	PUNCT
fsr-3132	285	1	agnew	agnew	PROPN
fsr-3132	285	2	,	,	PUNCT
fsr-3132	285	3	balduzzi	balduzzi	NOUN
fsr-3132	285	4	,	,	PUNCT
fsr-3132	285	5	and	and	CCONJ
fsr-3132	285	6	sundén	sundén	PROPN
fsr-3132	285	7	(	(	PUNCT
fsr-3132	285	8	2003	2003	NUM
fsr-3132	285	9	)	)	PUNCT
fsr-3132	285	10	find	find	VERB
fsr-3132	285	11	that	that	SCONJ
fsr-3132	285	12	investor	investor	NOUN
fsr-3132	285	13	’s	’s	PART
fsr-3132	285	14	risk	risk	NOUN
fsr-3132	285	15	aversion	aversion	NOUN
fsr-3132	285	16	is	be	AUX
fsr-3132	285	17	low	low	ADJ
fsr-3132	285	18	even	even	ADV
fsr-3132	285	19	up	up	ADV
fsr-3132	285	20	to	to	ADP
fsr-3132	285	21	age	age	NOUN
fsr-3132	285	22	45	45	NUM
fsr-3132	285	23	to	to	PART
fsr-3132	285	24	54	54	NUM
fsr-3132	285	25	and	and	CCONJ
fsr-3132	285	26	starts	start	VERB
fsr-3132	285	27	increasing	increase	VERB
fsr-3132	285	28	after	after	ADP
fsr-3132	285	29	that	that	PRON
fsr-3132	285	30	.	.	PUNCT
fsr-3132	286	1	panel	panel	NOUN
fsr-3132	286	2	b	b	PROPN
fsr-3132	286	3	of	of	ADP
fsr-3132	286	4	table	table	NOUN
fsr-3132	286	5	5	5	NUM
fsr-3132	286	6	shows	show	VERB
fsr-3132	286	7	the	the	DET
fsr-3132	286	8	expected	expect	VERB
fsr-3132	286	9	utilities	utility	NOUN
fsr-3132	286	10	for	for	ADP
fsr-3132	286	11	the	the	DET
fsr-3132	286	12	investor	investor	NOUN
fsr-3132	286	13	whose	whose	DET
fsr-3132	286	14	risk	risk	NOUN
fsr-3132	286	15	aversion	aversion	NOUN
fsr-3132	286	16	starts	start	VERB
fsr-3132	286	17	increasing	increase	VERB
fsr-3132	286	18	30	30	NUM
fsr-3132	286	19	years	year	NOUN
fsr-3132	286	20	before	before	ADP
fsr-3132	286	21	the	the	DET
fsr-3132	286	22	target	target	NOUN
fsr-3132	286	23	retirement	retirement	NOUN
fsr-3132	286	24	year	year	NOUN
fsr-3132	286	25	.	.	PUNCT
fsr-3132	287	1	the	the	DET
fsr-3132	287	2	strategies	strategy	NOUN
fsr-3132	287	3	listed	list	VERB
fsr-3132	287	4	in	in	ADP
fsr-3132	287	5	this	this	DET
fsr-3132	287	6	panel	panel	NOUN
fsr-3132	287	7	have	have	VERB
fsr-3132	287	8	a	a	DET
fsr-3132	287	9	smooth	smooth	ADJ
fsr-3132	287	10	glide	glide	NOUN
fsr-3132	287	11	path	path	NOUN
fsr-3132	287	12	or	or	CCONJ
fsr-3132	287	13	in	in	ADP
fsr-3132	287	14	other	other	ADJ
fsr-3132	287	15	words	word	NOUN
fsr-3132	287	16	start	start	VERB
fsr-3132	287	17	decreasing	decrease	VERB
fsr-3132	287	18	the	the	DET
fsr-3132	287	19	equity	equity	NOUN
fsr-3132	287	20	allocation	allocation	NOUN
fsr-3132	287	21	in	in	ADP
fsr-3132	287	22	the	the	DET
fsr-3132	287	23	portfolio	portfolio	NOUN
fsr-3132	287	24	right	right	ADV
fsr-3132	287	25	away	away	ADV
fsr-3132	287	26	.	.	PUNCT
fsr-3132	288	1	as	as	SCONJ
fsr-3132	288	2	our	our	PRON
fsr-3132	288	3	representative	representative	ADJ
fsr-3132	288	4	investor	investor	NOUN
fsr-3132	288	5	’s	’s	PART
fsr-3132	288	6	risk	risk	NOUN
fsr-3132	288	7	aversion	aversion	NOUN
fsr-3132	288	8	starts	start	VERB
fsr-3132	288	9	increasing	increase	VERB
fsr-3132	288	10	only	only	ADV
fsr-3132	288	11	later	later	ADV
fsr-3132	288	12	in	in	ADP
fsr-3132	288	13	life	life	NOUN
fsr-3132	288	14	,	,	PUNCT
fsr-3132	288	15	her	her	PRON
fsr-3132	288	16	average	average	ADJ
fsr-3132	288	17	risk	risk	NOUN
fsr-3132	288	18	aversion	aversion	NOUN
fsr-3132	288	19	over	over	ADP
fsr-3132	288	20	the	the	DET
fsr-3132	288	21	accumulation	accumulation	NOUN
fsr-3132	288	22	period	period	NOUN
fsr-3132	288	23	is	be	AUX
fsr-3132	288	24	relatively	relatively	ADV
fsr-3132	288	25	lower	low	ADJ
fsr-3132	288	26	.	.	PUNCT
fsr-3132	289	1	therefore	therefore	ADV
fsr-3132	289	2	,	,	PUNCT
fsr-3132	289	3	in	in	ADP
fsr-3132	289	4	general	general	ADJ
fsr-3132	289	5	this	this	DET
fsr-3132	289	6	investor	investor	NOUN
fsr-3132	289	7	reaches	reach	VERB
fsr-3132	289	8	higher	high	ADJ
fsr-3132	289	9	utility	utility	NOUN
fsr-3132	289	10	with	with	ADP
fsr-3132	289	11	more	more	ADV
fsr-3132	289	12	aggressive	aggressive	ADJ
fsr-3132	289	13	strategies	strategy	NOUN
fsr-3132	289	14	compared	compare	VERB
fsr-3132	289	15	with	with	ADP
fsr-3132	289	16	the	the	DET
fsr-3132	289	17	investor	investor	NOUN
fsr-3132	289	18	whose	whose	DET
fsr-3132	289	19	risk	risk	NOUN
fsr-3132	289	20	aversion	aversion	NOUN
fsr-3132	289	21	starts	start	VERB
fsr-3132	289	22	increasing	increase	VERB
fsr-3132	289	23	right	right	ADV
fsr-3132	289	24	away	away	ADV
fsr-3132	289	25	.	.	PUNCT
fsr-3132	290	1	more	more	ADV
fsr-3132	290	2	specifically	specifically	ADV
fsr-3132	290	3	our	our	PRON
fsr-3132	290	4	investor	investor	NOUN
fsr-3132	290	5	who	who	PRON
fsr-3132	290	6	is	be	AUX
fsr-3132	290	7	risk	risk	NOUN
fsr-3132	290	8	neutral	neutral	ADJ
fsr-3132	290	9	when	when	SCONJ
fsr-3132	290	10	she	she	PRON
fsr-3132	290	11	is	be	AUX
fsr-3132	290	12	young	young	ADJ
fsr-3132	290	13	and	and	CCONJ
fsr-3132	290	14	whose	whose	DET
fsr-3132	290	15	risk	risk	NOUN
fsr-3132	290	16	aversion	aversion	NOUN
fsr-3132	290	17	starts	start	VERB
fsr-3132	290	18	increasing	increase	VERB
fsr-3132	290	19	30	30	NUM
fsr-3132	290	20	years	year	NOUN
fsr-3132	290	21	before	before	ADP
fsr-3132	290	22	retirement	retirement	NOUN
fsr-3132	290	23	reaching	reach	VERB
fsr-3132	290	24	the	the	DET
fsr-3132	290	25	level	level	NOUN
fsr-3132	290	26	of	of	ADP
fsr-3132	290	27	4	4	NUM
fsr-3132	290	28	by	by	ADP
fsr-3132	290	29	the	the	DET
fsr-3132	290	30	target	target	NOUN
fsr-3132	290	31	date	date	NOUN
fsr-3132	290	32	,	,	PUNCT
fsr-3132	290	33	would	would	AUX
fsr-3132	290	34	reach	reach	VERB
fsr-3132	290	35	the	the	DET
fsr-3132	290	36	highest	high	ADJ
fsr-3132	290	37	total	total	ADJ
fsr-3132	290	38	expected	expect	VERB
fsr-3132	290	39	utility	utility	NOUN
fsr-3132	290	40	when	when	SCONJ
fsr-3132	290	41	investing	invest	VERB
fsr-3132	290	42	in	in	ADP
fsr-3132	290	43	the	the	DET
fsr-3132	290	44	tdf	tdf	NOUN
fsr-3132	290	45	that	that	PRON
fsr-3132	290	46	has	have	VERB
fsr-3132	290	47	100	100	NUM
fsr-3132	290	48	%	%	NOUN
fsr-3132	290	49	equity	equity	NOUN
fsr-3132	290	50	in	in	ADP
fsr-3132	290	51	the	the	DET
fsr-3132	290	52	beginning	beginning	NOUN
fsr-3132	290	53	and	and	CCONJ
fsr-3132	290	54	decreases	decrease	VERB
fsr-3132	290	55	it	it	PRON
fsr-3132	290	56	to	to	ADP
fsr-3132	290	57	the	the	DET
fsr-3132	290	58	level	level	NOUN
fsr-3132	290	59	of	of	ADP
fsr-3132	290	60	35	35	NUM
fsr-3132	290	61	%	%	NOUN
fsr-3132	290	62	equity	equity	NOUN
fsr-3132	290	63	by	by	ADP
fsr-3132	290	64	the	the	DET
fsr-3132	290	65	target	target	NOUN
fsr-3132	290	66	date	date	NOUN
fsr-3132	290	67	.	.	PUNCT
fsr-3132	291	1	the	the	DET
fsr-3132	291	2	more	more	ADJ
fsr-3132	291	3	risk	risk	NOUN
fsr-3132	291	4	averse	averse	ADJ
fsr-3132	291	5	investor	investor	NOUN
fsr-3132	291	6	whose	whose	DET
fsr-3132	291	7	risk	risk	NOUN
fsr-3132	291	8	aversion	aversion	NOUN
fsr-3132	291	9	changes	change	NOUN
fsr-3132	291	10	from	from	ADP
fsr-3132	291	11	2	2	NUM
fsr-3132	291	12	to	to	ADP
fsr-3132	291	13	6	6	NUM
fsr-3132	291	14	,	,	PUNCT
fsr-3132	291	15	would	would	AUX
fsr-3132	291	16	benefit	benefit	VERB
fsr-3132	291	17	from	from	ADP
fsr-3132	291	18	choosing	choose	VERB
fsr-3132	291	19	a	a	DET
fsr-3132	291	20	lifecycle	lifecycle	NOUN
fsr-3132	291	21	strategy	strategy	NOUN
fsr-3132	291	22	with	with	ADP
fsr-3132	291	23	the	the	DET
fsr-3132	291	24	glide	glide	ADJ
fsr-3132	291	25	path	path	NOUN
fsr-3132	291	26	from	from	ADP
fsr-3132	291	27	55	55	NUM
fsr-3132	291	28	%	%	NOUN
fsr-3132	291	29	equity	equity	NOUN
fsr-3132	291	30	to	to	ADP
fsr-3132	291	31	20	20	NUM
fsr-3132	291	32	%	%	NOUN
fsr-3132	291	33	equity	equity	NOUN
fsr-3132	291	34	.	.	PUNCT
fsr-3132	292	1	in	in	ADP
fsr-3132	292	2	both	both	DET
fsr-3132	292	3	cases	case	NOUN
fsr-3132	292	4	,	,	PUNCT
fsr-3132	292	5	the	the	DET
fsr-3132	292	6	improvements	improvement	NOUN
fsr-3132	292	7	are	be	AUX
fsr-3132	292	8	significant	significant	ADJ
fsr-3132	292	9	at	at	ADP
fsr-3132	292	10	the	the	DET
fsr-3132	292	11	1	1	NUM
fsr-3132	292	12	%	%	NOUN
fsr-3132	292	13	level	level	NOUN
fsr-3132	292	14	.	.	PUNCT
fsr-3132	293	1	panel	panel	NOUN
fsr-3132	293	2	b	b	PROPN
fsr-3132	293	3	shows	show	VERB
fsr-3132	293	4	that	that	SCONJ
fsr-3132	293	5	if	if	SCONJ
fsr-3132	293	6	investor	investor	NOUN
fsr-3132	293	7	’s	’s	PART
fsr-3132	293	8	risk	risk	NOUN
fsr-3132	293	9	aversion	aversion	NOUN
fsr-3132	293	10	is	be	AUX
fsr-3132	293	11	constant	constant	ADJ
fsr-3132	293	12	for	for	ADP
fsr-3132	293	13	a	a	DET
fsr-3132	293	14	period	period	NOUN
fsr-3132	293	15	and	and	CCONJ
fsr-3132	293	16	starts	start	VERB
fsr-3132	293	17	increasing	increase	VERB
fsr-3132	293	18	later	later	ADV
fsr-3132	293	19	in	in	ADP
fsr-3132	293	20	life	life	NOUN
fsr-3132	293	21	,	,	PUNCT
fsr-3132	293	22	the	the	DET
fsr-3132	293	23	lifecycle	lifecycle	NOUN
fsr-3132	293	24	strategies	strategy	NOUN
fsr-3132	293	25	still	still	ADV
fsr-3132	293	26	provide	provide	VERB
fsr-3132	293	27	higher	high	ADJ
fsr-3132	293	28	expected	expect	VERB
fsr-3132	293	29	utility	utility	NOUN
fsr-3132	293	30	than	than	ADP
fsr-3132	293	31	lifestyle	lifestyle	NOUN
fsr-3132	293	32	strategies	strategy	NOUN
fsr-3132	293	33	.	.	PUNCT
fsr-3132	294	1	in	in	ADP
fsr-3132	294	2	panel	panel	NOUN
fsr-3132	294	3	c	c	PROPN
fsr-3132	294	4	of	of	ADP
fsr-3132	294	5	table	table	NOUN
fsr-3132	294	6	5	5	NUM
fsr-3132	294	7	,	,	PUNCT
fsr-3132	294	8	we	we	PRON
fsr-3132	294	9	present	present	VERB
fsr-3132	294	10	the	the	DET
fsr-3132	294	11	results	result	NOUN
fsr-3132	294	12	for	for	ADP
fsr-3132	294	13	the	the	DET
fsr-3132	294	14	case	case	NOUN
fsr-3132	294	15	where	where	SCONJ
fsr-3132	294	16	the	the	DET
fsr-3132	294	17	glide	glide	ADJ
fsr-3132	294	18	path	path	NOUN
fsr-3132	294	19	has	have	VERB
fsr-3132	294	20	a	a	DET
fsr-3132	294	21	kink	kink	NOUN
fsr-3132	294	22	30	30	NUM
fsr-3132	294	23	years	year	NOUN
fsr-3132	294	24	before	before	ADP
fsr-3132	294	25	target	target	NOUN
fsr-3132	294	26	date	date	NOUN
fsr-3132	294	27	and	and	CCONJ
fsr-3132	294	28	investor	investor	NOUN
fsr-3132	294	29	’s	’s	PART
fsr-3132	294	30	risk	risk	NOUN
fsr-3132	294	31	aversion	aversion	NOUN
fsr-3132	294	32	starts	start	VERB
fsr-3132	294	33	increasing	increase	VERB
fsr-3132	294	34	30	30	NUM
fsr-3132	294	35	years	year	NOUN
fsr-3132	294	36	before	before	ADP
fsr-3132	294	37	the	the	DET
fsr-3132	294	38	target	target	NOUN
fsr-3132	294	39	retirement	retirement	NOUN
fsr-3132	294	40	.	.	PUNCT
fsr-3132	295	1	the	the	DET
fsr-3132	295	2	more	more	ADJ
fsr-3132	295	3	risk	risk	NOUN
fsr-3132	295	4	tolerant	tolerant	ADJ
fsr-3132	295	5	investor	investor	NOUN
fsr-3132	295	6	(	(	PUNCT
fsr-3132	295	7	risk	risk	NOUN
fsr-3132	295	8	aversion	aversion	NOUN
fsr-3132	295	9	increasing	increase	VERB
fsr-3132	295	10	from	from	ADP
fsr-3132	295	11	0	0	NUM
fsr-3132	295	12	to	to	ADP
fsr-3132	295	13	4	4	NUM
fsr-3132	295	14	and	and	CCONJ
fsr-3132	295	15	from	from	ADP
fsr-3132	295	16	0	0	NUM
fsr-3132	295	17	to	to	PART
fsr-3132	295	18	6	6	NUM
fsr-3132	295	19	)	)	PUNCT
fsr-3132	295	20	will	will	AUX
fsr-3132	295	21	reach	reach	VERB
fsr-3132	295	22	higher	high	ADJ
fsr-3132	295	23	expected	expect	VERB
fsr-3132	295	24	utility	utility	NOUN
fsr-3132	295	25	from	from	ADP
fsr-3132	295	26	investing	invest	VERB
fsr-3132	295	27	in	in	ADP
fsr-3132	295	28	the	the	DET
fsr-3132	295	29	common	common	ADJ
fsr-3132	295	30	lifecycle	lifecycle	NOUN
fsr-3132	295	31	strategies	strategy	NOUN
fsr-3132	295	32	than	than	ADP
fsr-3132	295	33	from	from	ADP
fsr-3132	295	34	lifestyle	lifestyle	NOUN
fsr-3132	295	35	strategies	strategy	NOUN
fsr-3132	295	36	.	.	PUNCT
fsr-3132	296	1	given	give	VERB
fsr-3132	296	2	the	the	DET
fsr-3132	296	3	flexibility	flexibility	NOUN
fsr-3132	296	4	in	in	ADP
fsr-3132	296	5	the	the	DET
fsr-3132	296	6	kinked	kinked	ADJ
fsr-3132	296	7	glide	glide	NOUN
fsr-3132	296	8	path	path	NOUN
fsr-3132	296	9	,	,	PUNCT
fsr-3132	296	10	the	the	DET
fsr-3132	296	11	percentage	percentage	NOUN
fsr-3132	296	12	increase	increase	NOUN
fsr-3132	296	13	in	in	ADP
fsr-3132	296	14	the	the	DET
fsr-3132	296	15	expected	expect	VERB
fsr-3132	296	16	utilities	utility	NOUN
fsr-3132	296	17	is	be	AUX
fsr-3132	296	18	higher	high	ADJ
fsr-3132	296	19	among	among	ADP
fsr-3132	296	20	the	the	DET
fsr-3132	296	21	lifecycle	lifecycle	NOUN
fsr-3132	296	22	strategies	strategy	NOUN
fsr-3132	296	23	.	.	PUNCT
fsr-3132	297	1	for	for	ADP
fsr-3132	297	2	example	example	NOUN
fsr-3132	297	3	the	the	DET
fsr-3132	297	4	investor	investor	NOUN
fsr-3132	297	5	with	with	ADP
fsr-3132	297	6	risk	risk	NOUN
fsr-3132	297	7	aversion	aversion	NOUN
fsr-3132	297	8	from	from	ADP
fsr-3132	297	9	0	0	NUM
fsr-3132	297	10	to	to	ADP
fsr-3132	297	11	4	4	NUM
fsr-3132	297	12	(	(	PUNCT
fsr-3132	297	13	with	with	ADP
fsr-3132	297	14	the	the	DET
fsr-3132	297	15	kink	kink	NOUN
fsr-3132	297	16	in	in	ADP
fsr-3132	297	17	30	30	NUM
fsr-3132	297	18	years	year	NOUN
fsr-3132	297	19	before	before	ADP
fsr-3132	297	20	the	the	DET
fsr-3132	297	21	target	target	NOUN
fsr-3132	297	22	year	year	NOUN
fsr-3132	297	23	)	)	PUNCT
fsr-3132	297	24	will	will	AUX
fsr-3132	297	25	reach	reach	VERB
fsr-3132	297	26	the	the	DET
fsr-3132	297	27	highest	high	ADJ
fsr-3132	297	28	utility	utility	NOUN
fsr-3132	297	29	with	with	ADP
fsr-3132	297	30	the	the	DET
fsr-3132	297	31	lifecycle	lifecycle	NOUN
fsr-3132	297	32	strategy	strategy	NOUN
fsr-3132	297	33	that	that	PRON
fsr-3132	297	34	has	have	VERB
fsr-3132	297	35	a	a	DET
fsr-3132	297	36	steep	steep	ADJ
fsr-3132	297	37	glide	glide	ADJ
fsr-3132	297	38	path	path	NOUN
fsr-3132	297	39	that	that	PRON
fsr-3132	297	40	holds	hold	VERB
fsr-3132	297	41	equity	equity	NOUN
fsr-3132	297	42	at	at	ADP
fsr-3132	297	43	100	100	NUM
fsr-3132	297	44	%	%	NOUN
fsr-3132	297	45	for	for	ADP
fsr-3132	297	46	the	the	DET
fsr-3132	297	47	first	first	ADJ
fsr-3132	297	48	10	10	NUM
fsr-3132	297	49	years	year	NOUN
fsr-3132	297	50	and	and	CCONJ
fsr-3132	297	51	decreases	decrease	VERB
fsr-3132	297	52	it	it	PRON
fsr-3132	297	53	to	to	ADP
fsr-3132	297	54	25	25	NUM
fsr-3132	297	55	%	%	NOUN
fsr-3132	297	56	over	over	ADP
fsr-3132	297	57	the	the	DET
fsr-3132	297	58	remaining	remain	VERB
fsr-3132	297	59	30	30	NUM
fsr-3132	297	60	years	year	NOUN
fsr-3132	297	61	.	.	PUNCT
fsr-3132	298	1	such	such	ADJ
fsr-3132	298	2	strategy	strategy	NOUN
fsr-3132	298	3	will	will	AUX
fsr-3132	298	4	yield	yield	VERB
fsr-3132	298	5	him	he	PRON
fsr-3132	298	6	7.1	7.1	NUM
fsr-3132	298	7	%	%	NOUN
fsr-3132	298	8	higher	high	ADJ
fsr-3132	298	9	expected	expect	VERB
fsr-3132	298	10	utility	utility	NOUN
fsr-3132	298	11	(	(	PUNCT
fsr-3132	298	12	significant	significant	ADJ
fsr-3132	298	13	at	at	ADP
fsr-3132	298	14	the	the	DET
fsr-3132	298	15	1	1	NUM
fsr-3132	298	16	%	%	NOUN
fsr-3132	298	17	level	level	NOUN
fsr-3132	298	18	)	)	PUNCT
fsr-3132	298	19	than	than	ADP
fsr-3132	298	20	the	the	DET
fsr-3132	298	21	best	good	ADJ
fsr-3132	298	22	lifestyle	lifestyle	NOUN
fsr-3132	298	23	strategy	strategy	NOUN
fsr-3132	298	24	with	with	ADP
fsr-3132	298	25	75	75	NUM
fsr-3132	298	26	%	%	NOUN
fsr-3132	298	27	equity	equity	NOUN
fsr-3132	298	28	fixed	fix	VERB
fsr-3132	298	29	over	over	ADP
fsr-3132	298	30	the	the	DET
fsr-3132	298	31	40	40	NUM
fsr-3132	298	32	years	year	NOUN
fsr-3132	298	33	of	of	ADP
fsr-3132	298	34	investment.12	investment.12	PROPN
fsr-3132	298	35	in	in	ADP
fsr-3132	298	36	summary	summary	NOUN
fsr-3132	298	37	,	,	PUNCT
fsr-3132	298	38	when	when	SCONJ
fsr-3132	298	39	the	the	DET
fsr-3132	298	40	investor	investor	NOUN
fsr-3132	298	41	has	have	VERB
fsr-3132	298	42	a	a	DET
fsr-3132	298	43	kinked	kinked	ADJ
fsr-3132	298	44	glide	glide	NOUN
fsr-3132	298	45	path	path	NOUN
fsr-3132	298	46	and/or	and/or	CCONJ
fsr-3132	298	47	kinked	kinked	ADJ
fsr-3132	298	48	risk	risk	NOUN
fsr-3132	298	49	aversion	aversion	NOUN
fsr-3132	298	50	before	before	ADP
fsr-3132	298	51	the	the	DET
fsr-3132	298	52	target	target	NOUN
fsr-3132	298	53	retirement	retirement	NOUN
fsr-3132	298	54	year	year	NOUN
fsr-3132	298	55	,	,	PUNCT
fsr-3132	298	56	our	our	PRON
fsr-3132	298	57	results	result	NOUN
fsr-3132	298	58	show	show	VERB
fsr-3132	298	59	that	that	SCONJ
fsr-3132	298	60	the	the	DET
fsr-3132	298	61	best	good	ADJ
fsr-3132	298	62	lifecycle	lifecycle	NOUN
fsr-3132	298	63	strategy	strategy	NOUN
fsr-3132	298	64	still	still	ADV
fsr-3132	298	65	outperforms	outperform	VERB
fsr-3132	298	66	all	all	DET
fsr-3132	298	67	lifestyle	lifestyle	NOUN
fsr-3132	298	68	strategies	strategy	NOUN
fsr-3132	298	69	which	which	PRON
fsr-3132	298	70	have	have	VERB
fsr-3132	298	71	the	the	DET
fsr-3132	298	72	fixed	fix	VERB
fsr-3132	298	73	equity	equity	NOUN
fsr-3132	298	74	allocation	allocation	NOUN
fsr-3132	298	75	.	.	PUNCT
fsr-3132	299	1	as	as	ADP
fsr-3132	299	2	in	in	ADP
fsr-3132	299	3	the	the	DET
fsr-3132	299	4	previous	previous	ADJ
fsr-3132	299	5	analyses	analysis	NOUN
fsr-3132	299	6	,	,	PUNCT
fsr-3132	299	7	for	for	ADP
fsr-3132	299	8	the	the	DET
fsr-3132	299	9	more	more	ADJ
fsr-3132	299	10	risk	risk	NOUN
fsr-3132	299	11	averse	averse	ADJ
fsr-3132	299	12	investor	investor	NOUN
fsr-3132	299	13	the	the	DET
fsr-3132	299	14	utility	utility	NOUN
fsr-3132	299	15	from	from	ADP
fsr-3132	299	16	the	the	DET
fsr-3132	299	17	more	more	ADV
fsr-3132	299	18	common	common	ADJ
fsr-3132	299	19	lifecycle	lifecycle	NOUN
fsr-3132	299	20	strategies	strategy	NOUN
fsr-3132	299	21	is	be	AUX
fsr-3132	299	22	184	184	NUM
fsr-3132	299	23	r.p	r.p	NOUN
fsr-3132	299	24	.	.	PUNCT
fsr-3132	300	1	chang	chang	PROPN
fsr-3132	300	2	et	et	PROPN
fsr-3132	300	3	al	al	PROPN
fsr-3132	300	4	.	.	PUNCT
fsr-3132	300	5	/	/	SYM
fsr-3132	300	6	financial	financial	ADJ
fsr-3132	300	7	services	service	NOUN
fsr-3132	300	8	review	review	VERB
fsr-3132	300	9	23	23	NUM
fsr-3132	300	10	(	(	PUNCT
fsr-3132	300	11	2014	2014	NUM
fsr-3132	300	12	)	)	PUNCT
fsr-3132	300	13	169–188	169–188	NUM
fsr-3132	300	14	typically	typically	ADV
fsr-3132	300	15	less	less	ADJ
fsr-3132	300	16	than	than	ADP
fsr-3132	300	17	the	the	DET
fsr-3132	300	18	best	good	ADJ
fsr-3132	300	19	lifestyle	lifestyle	NOUN
fsr-3132	300	20	strategy	strategy	NOUN
fsr-3132	300	21	,	,	PUNCT
fsr-3132	300	22	thus	thus	ADV
fsr-3132	300	23	needs	need	VERB
fsr-3132	300	24	more	more	ADJ
fsr-3132	300	25	conservative	conservative	ADJ
fsr-3132	300	26	tdfs	tdfs	NOUN
fsr-3132	300	27	than	than	SCONJ
fsr-3132	300	28	currently	currently	ADV
fsr-3132	300	29	offered	offer	VERB
fsr-3132	300	30	on	on	ADP
fsr-3132	300	31	the	the	DET
fsr-3132	300	32	market	market	NOUN
fsr-3132	300	33	.	.	PUNCT
fsr-3132	301	1	4	4	X
fsr-3132	301	2	.	.	X
fsr-3132	301	3	conclusions	conclusion	NOUN
fsr-3132	301	4	prior	prior	ADV
fsr-3132	301	5	literature	literature	NOUN
fsr-3132	301	6	has	have	AUX
fsr-3132	301	7	examined	examine	VERB
fsr-3132	301	8	several	several	ADJ
fsr-3132	301	9	reasons	reason	NOUN
fsr-3132	301	10	why	why	SCONJ
fsr-3132	301	11	investors	investor	NOUN
fsr-3132	301	12	should	should	AUX
fsr-3132	301	13	follow	follow	VERB
fsr-3132	301	14	the	the	DET
fsr-3132	301	15	conventional	conventional	ADJ
fsr-3132	301	16	wisdom	wisdom	NOUN
fsr-3132	301	17	of	of	ADP
fsr-3132	301	18	switching	switch	VERB
fsr-3132	301	19	their	their	PRON
fsr-3132	301	20	investment	investment	NOUN
fsr-3132	301	21	portfolio	portfolio	NOUN
fsr-3132	301	22	gradually	gradually	ADV
fsr-3132	301	23	into	into	ADP
fsr-3132	301	24	safer	safe	ADJ
fsr-3132	301	25	assets	asset	NOUN
fsr-3132	301	26	when	when	SCONJ
fsr-3132	301	27	they	they	PRON
fsr-3132	301	28	get	get	VERB
fsr-3132	301	29	older	old	ADJ
fsr-3132	301	30	.	.	PUNCT
fsr-3132	302	1	this	this	DET
fsr-3132	302	2	article	article	NOUN
fsr-3132	302	3	adds	add	VERB
fsr-3132	302	4	investors	investor	NOUN
fsr-3132	302	5	’	'	PUNCT
fsr-3132	302	6	increasing	increase	VERB
fsr-3132	302	7	risk	risk	NOUN
fsr-3132	302	8	aversion	aversion	NOUN
fsr-3132	302	9	to	to	ADP
fsr-3132	302	10	this	this	DET
fsr-3132	302	11	list	list	NOUN
fsr-3132	302	12	and	and	CCONJ
fsr-3132	302	13	shows	show	VERB
fsr-3132	302	14	that	that	SCONJ
fsr-3132	302	15	for	for	ADP
fsr-3132	302	16	the	the	DET
fsr-3132	302	17	investors	investor	NOUN
fsr-3132	302	18	who	who	PRON
fsr-3132	302	19	become	become	VERB
fsr-3132	302	20	less	less	ADJ
fsr-3132	302	21	risk	risk	NOUN
fsr-3132	302	22	tolerant	tolerant	ADJ
fsr-3132	302	23	over	over	ADP
fsr-3132	302	24	their	their	PRON
fsr-3132	302	25	lifetime	lifetime	NOUN
fsr-3132	302	26	,	,	PUNCT
fsr-3132	302	27	the	the	DET
fsr-3132	302	28	lifecycle	lifecycle	NOUN
fsr-3132	302	29	strategy	strategy	NOUN
fsr-3132	302	30	used	use	VERB
fsr-3132	302	31	by	by	ADP
fsr-3132	302	32	tdfs	tdfs	NOUN
fsr-3132	302	33	is	be	AUX
fsr-3132	302	34	a	a	DET
fsr-3132	302	35	choice	choice	NOUN
fsr-3132	302	36	that	that	PRON
fsr-3132	302	37	would	would	AUX
fsr-3132	302	38	yield	yield	VERB
fsr-3132	302	39	higher	high	ADJ
fsr-3132	302	40	expected	expect	VERB
fsr-3132	302	41	utility	utility	NOUN
fsr-3132	302	42	than	than	ADP
fsr-3132	302	43	a	a	DET
fsr-3132	302	44	constant	constant	ADJ
fsr-3132	302	45	allocation	allocation	NOUN
fsr-3132	302	46	strategy	strategy	NOUN
fsr-3132	302	47	.	.	PUNCT
fsr-3132	303	1	for	for	ADP
fsr-3132	303	2	investors	investor	NOUN
fsr-3132	303	3	who	who	PRON
fsr-3132	303	4	start	start	VERB
fsr-3132	303	5	saving	save	VERB
fsr-3132	303	6	for	for	ADP
fsr-3132	303	7	retirement	retirement	NOUN
fsr-3132	303	8	early	early	ADV
fsr-3132	303	9	and	and	CCONJ
fsr-3132	303	10	have	have	VERB
fsr-3132	303	11	40	40	NUM
fsr-3132	303	12	years	year	NOUN
fsr-3132	303	13	to	to	PART
fsr-3132	303	14	accumulate	accumulate	VERB
fsr-3132	303	15	wealth	wealth	NOUN
fsr-3132	303	16	to	to	PART
fsr-3132	303	17	support	support	VERB
fsr-3132	303	18	their	their	PRON
fsr-3132	303	19	golden	golden	ADJ
fsr-3132	303	20	years	year	NOUN
fsr-3132	303	21	,	,	PUNCT
fsr-3132	303	22	the	the	DET
fsr-3132	303	23	best	good	ADJ
fsr-3132	303	24	choice	choice	NOUN
fsr-3132	303	25	for	for	ADP
fsr-3132	303	26	the	the	DET
fsr-3132	303	27	retirement	retirement	NOUN
fsr-3132	303	28	plan	plan	NOUN
fsr-3132	303	29	depends	depend	VERB
fsr-3132	303	30	on	on	ADP
fsr-3132	303	31	their	their	PRON
fsr-3132	303	32	risk	risk	NOUN
fsr-3132	303	33	aversion	aversion	NOUN
fsr-3132	303	34	.	.	PUNCT
fsr-3132	304	1	to	to	ADP
fsr-3132	304	2	the	the	DET
fsr-3132	304	3	investors	investor	NOUN
fsr-3132	304	4	who	who	PRON
fsr-3132	304	5	are	be	AUX
fsr-3132	304	6	less	less	ADJ
fsr-3132	304	7	risk	risk	NOUN
fsr-3132	304	8	averse	averse	ADJ
fsr-3132	304	9	when	when	SCONJ
fsr-3132	304	10	young	young	ADJ
fsr-3132	304	11	and	and	CCONJ
fsr-3132	304	12	become	become	VERB
fsr-3132	304	13	moderately	moderately	ADV
fsr-3132	304	14	risk	risk	NOUN
fsr-3132	304	15	averse	averse	ADJ
fsr-3132	304	16	by	by	ADP
fsr-3132	304	17	the	the	DET
fsr-3132	304	18	time	time	NOUN
fsr-3132	304	19	they	they	PRON
fsr-3132	304	20	plan	plan	VERB
fsr-3132	304	21	to	to	PART
fsr-3132	304	22	finish	finish	VERB
fsr-3132	304	23	working	work	VERB
fsr-3132	304	24	,	,	PUNCT
fsr-3132	304	25	the	the	DET
fsr-3132	304	26	best	good	ADJ
fsr-3132	304	27	fit	fit	NOUN
fsr-3132	304	28	would	would	AUX
fsr-3132	304	29	be	be	AUX
fsr-3132	304	30	a	a	DET
fsr-3132	304	31	plan	plan	NOUN
fsr-3132	304	32	that	that	PRON
fsr-3132	304	33	is	be	AUX
fsr-3132	304	34	relatively	relatively	ADV
fsr-3132	304	35	aggressive	aggressive	ADJ
fsr-3132	304	36	and	and	CCONJ
fsr-3132	304	37	starts	start	VERB
fsr-3132	304	38	the	the	DET
fsr-3132	304	39	portfolio	portfolio	NOUN
fsr-3132	304	40	glide	glide	NOUN
fsr-3132	304	41	path	path	NOUN
fsr-3132	304	42	at	at	ADP
fsr-3132	304	43	a	a	DET
fsr-3132	304	44	high	high	ADJ
fsr-3132	304	45	level	level	NOUN
fsr-3132	304	46	of	of	ADP
fsr-3132	304	47	equity	equity	NOUN
fsr-3132	304	48	(	(	PUNCT
fsr-3132	304	49	close	close	ADJ
fsr-3132	304	50	to	to	PART
fsr-3132	304	51	100	100	NUM
fsr-3132	304	52	%	%	NOUN
fsr-3132	304	53	)	)	PUNCT
fsr-3132	304	54	,	,	PUNCT
fsr-3132	304	55	decreasing	decrease	VERB
fsr-3132	304	56	it	it	PRON
fsr-3132	304	57	over	over	ADP
fsr-3132	304	58	the	the	DET
fsr-3132	304	59	accumulation	accumulation	NOUN
fsr-3132	304	60	period	period	NOUN
fsr-3132	304	61	to	to	ADP
fsr-3132	304	62	a	a	DET
fsr-3132	304	63	low	low	ADJ
fsr-3132	304	64	level	level	NOUN
fsr-3132	304	65	(	(	PUNCT
fsr-3132	304	66	about	about	ADV
fsr-3132	304	67	25	25	NUM
fsr-3132	304	68	%	%	NOUN
fsr-3132	304	69	)	)	PUNCT
fsr-3132	304	70	at	at	ADP
fsr-3132	304	71	the	the	DET
fsr-3132	304	72	target	target	NOUN
fsr-3132	304	73	date	date	NOUN
fsr-3132	304	74	.	.	PUNCT
fsr-3132	305	1	investors	investor	NOUN
fsr-3132	305	2	,	,	PUNCT
fsr-3132	305	3	who	who	PRON
fsr-3132	305	4	are	be	AUX
fsr-3132	305	5	more	more	ADJ
fsr-3132	305	6	risk	risk	NOUN
fsr-3132	305	7	averse	averse	ADJ
fsr-3132	305	8	and	and	CCONJ
fsr-3132	305	9	become	become	VERB
fsr-3132	305	10	even	even	ADV
fsr-3132	305	11	less	less	ADJ
fsr-3132	305	12	risk	risk	NOUN
fsr-3132	305	13	tolerant	tolerant	ADJ
fsr-3132	305	14	throughout	throughout	ADP
fsr-3132	305	15	their	their	PRON
fsr-3132	305	16	life	life	NOUN
fsr-3132	305	17	,	,	PUNCT
fsr-3132	305	18	may	may	AUX
fsr-3132	305	19	not	not	PART
fsr-3132	305	20	find	find	VERB
fsr-3132	305	21	a	a	DET
fsr-3132	305	22	beneficial	beneficial	ADJ
fsr-3132	305	23	lifecycle	lifecycle	NOUN
fsr-3132	305	24	strategy	strategy	NOUN
fsr-3132	305	25	among	among	ADP
fsr-3132	305	26	the	the	DET
fsr-3132	305	27	tdfs	tdfs	NOUN
fsr-3132	305	28	offered	offer	VERB
fsr-3132	305	29	currently	currently	ADV
fsr-3132	305	30	by	by	ADP
fsr-3132	305	31	the	the	DET
fsr-3132	305	32	fund	fund	NOUN
fsr-3132	305	33	families	family	NOUN
fsr-3132	305	34	and	and	CCONJ
fsr-3132	305	35	would	would	AUX
fsr-3132	305	36	need	need	VERB
fsr-3132	305	37	a	a	DET
fsr-3132	305	38	lifecycle	lifecycle	NOUN
fsr-3132	305	39	strategy	strategy	NOUN
fsr-3132	305	40	with	with	ADP
fsr-3132	305	41	a	a	DET
fsr-3132	305	42	more	more	ADV
fsr-3132	305	43	conservative	conservative	ADJ
fsr-3132	305	44	beginning	beginning	NOUN
fsr-3132	305	45	and	and	CCONJ
fsr-3132	305	46	ending	end	VERB
fsr-3132	305	47	level	level	NOUN
fsr-3132	305	48	of	of	ADP
fsr-3132	305	49	equity	equity	NOUN
fsr-3132	305	50	.	.	PUNCT
fsr-3132	306	1	procrastinators	procrastinator	NOUN
fsr-3132	306	2	who	who	PRON
fsr-3132	306	3	leave	leave	VERB
fsr-3132	306	4	saving	save	VERB
fsr-3132	306	5	for	for	ADP
fsr-3132	306	6	retirement	retirement	NOUN
fsr-3132	306	7	until	until	ADP
fsr-3132	306	8	later	later	ADV
fsr-3132	306	9	in	in	ADP
fsr-3132	306	10	life	life	NOUN
fsr-3132	306	11	are	be	AUX
fsr-3132	306	12	also	also	ADV
fsr-3132	306	13	better	well	ADJ
fsr-3132	306	14	off	off	ADP
fsr-3132	306	15	with	with	ADP
fsr-3132	306	16	investment	investment	NOUN
fsr-3132	306	17	strategies	strategy	NOUN
fsr-3132	306	18	that	that	PRON
fsr-3132	306	19	have	have	VERB
fsr-3132	306	20	a	a	DET
fsr-3132	306	21	glide	glide	ADJ
fsr-3132	306	22	path	path	NOUN
fsr-3132	306	23	with	with	ADP
fsr-3132	306	24	decreasing	decrease	VERB
fsr-3132	306	25	stock	stock	NOUN
fsr-3132	306	26	allocation	allocation	NOUN
fsr-3132	306	27	over	over	ADP
fsr-3132	306	28	time	time	NOUN
fsr-3132	306	29	.	.	PUNCT
fsr-3132	307	1	in	in	ADP
fsr-3132	307	2	most	most	ADJ
fsr-3132	307	3	cases	case	NOUN
fsr-3132	307	4	they	they	PRON
fsr-3132	307	5	would	would	AUX
fsr-3132	307	6	still	still	ADV
fsr-3132	307	7	be	be	AUX
fsr-3132	307	8	better	well	ADJ
fsr-3132	307	9	off	off	ADP
fsr-3132	307	10	picking	pick	VERB
fsr-3132	307	11	the	the	DET
fsr-3132	307	12	tdf	tdf	NOUN
fsr-3132	307	13	that	that	PRON
fsr-3132	307	14	matches	match	VERB
fsr-3132	307	15	their	their	PRON
fsr-3132	307	16	planned	plan	VERB
fsr-3132	307	17	retirement	retirement	NOUN
fsr-3132	307	18	year	year	NOUN
fsr-3132	307	19	.	.	PUNCT
fsr-3132	308	1	if	if	SCONJ
fsr-3132	308	2	the	the	DET
fsr-3132	308	3	investor	investor	NOUN
fsr-3132	308	4	’s	’s	PART
fsr-3132	308	5	risk	risk	NOUN
fsr-3132	308	6	tolerance	tolerance	NOUN
fsr-3132	308	7	starts	start	VERB
fsr-3132	308	8	decreasing	decrease	VERB
fsr-3132	308	9	later	later	ADV
fsr-3132	308	10	in	in	ADP
fsr-3132	308	11	life	life	NOUN
fsr-3132	308	12	,	,	PUNCT
fsr-3132	308	13	for	for	ADP
fsr-3132	308	14	example	example	NOUN
fsr-3132	308	15	30	30	NUM
fsr-3132	308	16	years	year	NOUN
fsr-3132	308	17	before	before	ADP
fsr-3132	308	18	their	their	PRON
fsr-3132	308	19	planned	plan	VERB
fsr-3132	308	20	retirement	retirement	NOUN
fsr-3132	308	21	,	,	PUNCT
fsr-3132	308	22	lifecycle	lifecycle	NOUN
fsr-3132	308	23	strategies	strategy	NOUN
fsr-3132	308	24	will	will	AUX
fsr-3132	308	25	still	still	ADV
fsr-3132	308	26	provide	provide	VERB
fsr-3132	308	27	a	a	DET
fsr-3132	308	28	higher	high	ADJ
fsr-3132	308	29	expected	expect	VERB
fsr-3132	308	30	utility	utility	NOUN
fsr-3132	308	31	over	over	ADP
fsr-3132	308	32	the	the	DET
fsr-3132	308	33	accumulation	accumulation	NOUN
fsr-3132	308	34	period	period	NOUN
fsr-3132	308	35	than	than	ADP
fsr-3132	308	36	the	the	DET
fsr-3132	308	37	constant	constant	ADJ
fsr-3132	308	38	allocation	allocation	NOUN
fsr-3132	308	39	strategy	strategy	NOUN
fsr-3132	308	40	.	.	PUNCT
fsr-3132	309	1	compared	compare	VERB
fsr-3132	309	2	to	to	ADP
fsr-3132	309	3	the	the	DET
fsr-3132	309	4	lifestyle	lifestyle	NOUN
fsr-3132	309	5	strategies	strategy	NOUN
fsr-3132	309	6	,	,	PUNCT
fsr-3132	309	7	the	the	DET
fsr-3132	309	8	investor	investor	NOUN
fsr-3132	309	9	also	also	ADV
fsr-3132	309	10	enjoys	enjoy	VERB
fsr-3132	309	11	higher	high	ADJ
fsr-3132	309	12	utility	utility	NOUN
fsr-3132	309	13	from	from	ADP
fsr-3132	309	14	a	a	DET
fsr-3132	309	15	kinked	kinked	ADJ
fsr-3132	309	16	tdf	tdf	NOUN
fsr-3132	309	17	strategy	strategy	NOUN
fsr-3132	309	18	that	that	PRON
fsr-3132	309	19	keeps	keep	VERB
fsr-3132	309	20	the	the	DET
fsr-3132	309	21	equity	equity	NOUN
fsr-3132	309	22	allocation	allocation	NOUN
fsr-3132	309	23	at	at	ADP
fsr-3132	309	24	the	the	DET
fsr-3132	309	25	maximum	maximum	NOUN
fsr-3132	309	26	in	in	ADP
fsr-3132	309	27	the	the	DET
fsr-3132	309	28	beginning	beginning	ADJ
fsr-3132	309	29	years	year	NOUN
fsr-3132	309	30	.	.	PUNCT
fsr-3132	310	1	after	after	ADP
fsr-3132	310	2	incorporating	incorporate	VERB
fsr-3132	310	3	the	the	DET
fsr-3132	310	4	investor	investor	NOUN
fsr-3132	310	5	’s	’s	PART
fsr-3132	310	6	loss	loss	NOUN
fsr-3132	310	7	aversion	aversion	NOUN
fsr-3132	310	8	into	into	ADP
fsr-3132	310	9	the	the	DET
fsr-3132	310	10	conventional	conventional	ADJ
fsr-3132	310	11	expected	expect	VERB
fsr-3132	310	12	utility	utility	NOUN
fsr-3132	310	13	framework	framework	NOUN
fsr-3132	310	14	,	,	PUNCT
fsr-3132	310	15	our	our	PRON
fsr-3132	310	16	results	result	NOUN
fsr-3132	310	17	show	show	VERB
fsr-3132	310	18	that	that	SCONJ
fsr-3132	310	19	conservative	conservative	ADJ
fsr-3132	310	20	lifecycle	lifecycle	NOUN
fsr-3132	310	21	investment	investment	NOUN
fsr-3132	310	22	strategies	strategy	NOUN
fsr-3132	310	23	provide	provide	VERB
fsr-3132	310	24	higher	high	ADJ
fsr-3132	310	25	expected	expect	VERB
fsr-3132	310	26	utility	utility	NOUN
fsr-3132	310	27	than	than	ADP
fsr-3132	310	28	strategies	strategy	NOUN
fsr-3132	310	29	with	with	ADP
fsr-3132	310	30	constant	constant	ADJ
fsr-3132	310	31	equity	equity	NOUN
fsr-3132	310	32	allocation	allocation	NOUN
fsr-3132	310	33	,	,	PUNCT
fsr-3132	310	34	though	though	SCONJ
fsr-3132	310	35	the	the	DET
fsr-3132	310	36	tdfs	tdfs	NOUN
fsr-3132	310	37	currently	currently	ADV
fsr-3132	310	38	offered	offer	VERB
fsr-3132	310	39	by	by	ADP
fsr-3132	310	40	fund	fund	NOUN
fsr-3132	310	41	families	family	NOUN
fsr-3132	310	42	are	be	AUX
fsr-3132	310	43	not	not	PART
fsr-3132	310	44	conservative	conservative	ADJ
fsr-3132	310	45	enough	enough	ADV
fsr-3132	310	46	for	for	SCONJ
fsr-3132	310	47	the	the	DET
fsr-3132	310	48	loss	loss	NOUN
fsr-3132	310	49	averse	averse	ADJ
fsr-3132	310	50	and	and	CCONJ
fsr-3132	310	51	extremely	extremely	ADV
fsr-3132	310	52	risk	risk	VERB
fsr-3132	310	53	averse	averse	ADJ
fsr-3132	310	54	investor	investor	NOUN
fsr-3132	310	55	.	.	PUNCT
fsr-3132	311	1	we	we	PRON
fsr-3132	311	2	find	find	VERB
fsr-3132	311	3	it	it	PRON
fsr-3132	311	4	important	important	ADJ
fsr-3132	311	5	to	to	PART
fsr-3132	311	6	remember	remember	VERB
fsr-3132	311	7	that	that	SCONJ
fsr-3132	311	8	tdfs	tdfs	NOUN
fsr-3132	311	9	are	be	AUX
fsr-3132	311	10	not	not	PART
fsr-3132	311	11	a	a	DET
fsr-3132	311	12	one	one	NUM
fsr-3132	311	13	-	-	PUNCT
fsr-3132	311	14	size	size	NOUN
fsr-3132	311	15	-	-	PUNCT
fsr-3132	311	16	fits	fit	VERB
fsr-3132	311	17	-	-	PUNCT
fsr-3132	311	18	all	all	PRON
fsr-3132	311	19	solution	solution	NOUN
fsr-3132	311	20	.	.	PUNCT
fsr-3132	312	1	investors	investor	NOUN
fsr-3132	312	2	should	should	AUX
fsr-3132	312	3	look	look	VERB
fsr-3132	312	4	at	at	ADP
fsr-3132	312	5	the	the	DET
fsr-3132	312	6	tdfs	tdfs	ADJ
fsr-3132	312	7	strategy	strategy	NOUN
fsr-3132	312	8	a	a	DET
fsr-3132	312	9	bit	bit	NOUN
fsr-3132	312	10	closer	close	ADJ
fsr-3132	312	11	than	than	ADP
fsr-3132	312	12	just	just	ADV
fsr-3132	312	13	the	the	DET
fsr-3132	312	14	target	target	NOUN
fsr-3132	312	15	date	date	NOUN
fsr-3132	312	16	.	.	PUNCT
fsr-3132	313	1	financial	financial	ADJ
fsr-3132	313	2	advisors	advisor	NOUN
fsr-3132	313	3	should	should	AUX
fsr-3132	313	4	determine	determine	VERB
fsr-3132	313	5	individual	individual	ADJ
fsr-3132	313	6	investors	investor	NOUN
fsr-3132	313	7	’	'	PUNCT
fsr-3132	313	8	risk	risk	NOUN
fsr-3132	313	9	aversion	aversion	NOUN
fsr-3132	313	10	characteristics	characteristic	NOUN
fsr-3132	313	11	before	before	ADP
fsr-3132	313	12	suggesting	suggest	VERB
fsr-3132	313	13	the	the	DET
fsr-3132	313	14	appropriate	appropriate	ADJ
fsr-3132	313	15	tdf	tdf	NOUN
fsr-3132	313	16	.	.	PUNCT
fsr-3132	314	1	though	though	SCONJ
fsr-3132	314	2	it	it	PRON
fsr-3132	314	3	is	be	AUX
fsr-3132	314	4	hard	hard	ADJ
fsr-3132	314	5	to	to	PART
fsr-3132	314	6	predict	predict	VERB
fsr-3132	314	7	an	an	DET
fsr-3132	314	8	investor	investor	NOUN
fsr-3132	314	9	’s	’s	PART
fsr-3132	314	10	future	future	ADJ
fsr-3132	314	11	risk	risk	NOUN
fsr-3132	314	12	tolerance	tolerance	NOUN
fsr-3132	314	13	,	,	PUNCT
fsr-3132	314	14	her	her	PRON
fsr-3132	314	15	beginning	begin	VERB
fsr-3132	314	16	risk	risk	NOUN
fsr-3132	314	17	aversion	aversion	NOUN
fsr-3132	314	18	can	can	AUX
fsr-3132	314	19	give	give	VERB
fsr-3132	314	20	at	at	ADP
fsr-3132	314	21	least	least	ADJ
fsr-3132	314	22	some	some	PRON
fsr-3132	314	23	indication	indication	NOUN
fsr-3132	314	24	for	for	ADP
fsr-3132	314	25	the	the	DET
fsr-3132	314	26	starting	starting	NOUN
fsr-3132	314	27	point	point	NOUN
fsr-3132	314	28	of	of	ADP
fsr-3132	314	29	the	the	DET
fsr-3132	314	30	glide	glide	ADJ
fsr-3132	314	31	path	path	NOUN
fsr-3132	314	32	of	of	ADP
fsr-3132	314	33	the	the	DET
fsr-3132	314	34	portfolio	portfolio	NOUN
fsr-3132	314	35	strategy	strategy	NOUN
fsr-3132	314	36	.	.	PUNCT
fsr-3132	315	1	as	as	ADP
fsr-3132	315	2	one	one	NUM
fsr-3132	315	3	of	of	ADP
fsr-3132	315	4	the	the	DET
fsr-3132	315	5	qdia	qdia	NOUN
fsr-3132	315	6	options	option	NOUN
fsr-3132	315	7	,	,	PUNCT
fsr-3132	315	8	lifecycle	lifecycle	NOUN
fsr-3132	315	9	funds	fund	NOUN
fsr-3132	315	10	are	be	AUX
fsr-3132	315	11	targeted	target	VERB
fsr-3132	315	12	at	at	ADP
fsr-3132	315	13	individuals	individual	NOUN
fsr-3132	315	14	who	who	PRON
fsr-3132	315	15	have	have	AUX
fsr-3132	315	16	failed	fail	VERB
fsr-3132	315	17	to	to	PART
fsr-3132	315	18	pick	pick	VERB
fsr-3132	315	19	the	the	DET
fsr-3132	315	20	fund	fund	NOUN
fsr-3132	315	21	for	for	ADP
fsr-3132	315	22	their	their	PRON
fsr-3132	315	23	retirement	retirement	NOUN
fsr-3132	315	24	contributions	contribution	NOUN
fsr-3132	315	25	.	.	PUNCT
fsr-3132	316	1	our	our	PRON
fsr-3132	316	2	analyses	analysis	NOUN
fsr-3132	316	3	suggest	suggest	VERB
fsr-3132	316	4	that	that	SCONJ
fsr-3132	316	5	the	the	DET
fsr-3132	316	6	plan	plan	NOUN
fsr-3132	316	7	sponsors	sponsor	NOUN
fsr-3132	316	8	who	who	PRON
fsr-3132	316	9	make	make	VERB
fsr-3132	316	10	the	the	DET
fsr-3132	316	11	choice	choice	NOUN
fsr-3132	316	12	for	for	ADP
fsr-3132	316	13	them	they	PRON
fsr-3132	316	14	should	should	AUX
fsr-3132	316	15	become	become	VERB
fsr-3132	316	16	more	more	ADV
fsr-3132	316	17	familiar	familiar	ADJ
fsr-3132	316	18	with	with	ADP
fsr-3132	316	19	the	the	DET
fsr-3132	316	20	plan	plan	NOUN
fsr-3132	316	21	185r.p	185r.p	NOUN
fsr-3132	316	22	.	.	PUNCT
fsr-3132	317	1	chang	chang	PROPN
fsr-3132	317	2	et	et	PROPN
fsr-3132	317	3	al	al	PROPN
fsr-3132	317	4	.	.	PUNCT
fsr-3132	317	5	/	/	SYM
fsr-3132	317	6	financial	financial	ADJ
fsr-3132	317	7	services	service	NOUN
fsr-3132	317	8	review	review	VERB
fsr-3132	317	9	23	23	NUM
fsr-3132	317	10	(	(	PUNCT
fsr-3132	317	11	2014	2014	NUM
fsr-3132	317	12	)	)	PUNCT
fsr-3132	317	13	169–188	169–188	NUM
fsr-3132	317	14	participants	participant	NOUN
fsr-3132	317	15	’	'	PUNCT
fsr-3132	317	16	risk	risk	NOUN
fsr-3132	317	17	aversion	aversion	NOUN
fsr-3132	317	18	.	.	PUNCT
fsr-3132	318	1	in	in	ADP
fsr-3132	318	2	particular	particular	ADJ
fsr-3132	318	3	,	,	PUNCT
fsr-3132	318	4	fund	fund	NOUN
fsr-3132	318	5	families	family	NOUN
fsr-3132	318	6	should	should	AUX
fsr-3132	318	7	consider	consider	VERB
fsr-3132	318	8	offering	offer	VERB
fsr-3132	318	9	some	some	DET
fsr-3132	318	10	tdfs	tdfs	NOUN
fsr-3132	318	11	with	with	ADP
fsr-3132	318	12	more	more	ADJ
fsr-3132	318	13	conservative	conservative	ADJ
fsr-3132	318	14	glide	glide	ADJ
fsr-3132	318	15	paths	path	NOUN
fsr-3132	318	16	for	for	ADP
fsr-3132	318	17	those	those	DET
fsr-3132	318	18	investors	investor	NOUN
fsr-3132	318	19	who	who	PRON
fsr-3132	318	20	are	be	AUX
fsr-3132	318	21	more	more	ADJ
fsr-3132	318	22	risk	risk	NOUN
fsr-3132	318	23	averse	averse	ADJ
fsr-3132	318	24	.	.	PUNCT
fsr-3132	319	1	notes	note	NOUN
fsr-3132	319	2	1	1	NUM
fsr-3132	319	3	with	with	ADP
fsr-3132	319	4	the	the	DET
fsr-3132	319	5	enactment	enactment	NOUN
fsr-3132	319	6	of	of	ADP
fsr-3132	319	7	the	the	DET
fsr-3132	319	8	pension	pension	NOUN
fsr-3132	319	9	protection	protection	NOUN
fsr-3132	319	10	act	act	NOUN
fsr-3132	319	11	(	(	PUNCT
fsr-3132	319	12	ppa	ppa	PROPN
fsr-3132	319	13	)	)	PUNCT
fsr-3132	319	14	of	of	ADP
fsr-3132	319	15	2006	2006	NUM
fsr-3132	319	16	,	,	PUNCT
fsr-3132	319	17	the	the	DET
fsr-3132	319	18	u.s	u.s	PROPN
fsr-3132	319	19	.	.	PROPN
fsr-3132	319	20	department	department	PROPN
fsr-3132	319	21	of	of	ADP
fsr-3132	319	22	labor	labor	NOUN
fsr-3132	319	23	defines	define	VERB
fsr-3132	319	24	qualified	qualified	ADJ
fsr-3132	319	25	default	default	NOUN
fsr-3132	319	26	investment	investment	NOUN
fsr-3132	319	27	alternatives	alternative	NOUN
fsr-3132	319	28	(	(	PUNCT
fsr-3132	319	29	qdias	qdias	PROPN
fsr-3132	319	30	)	)	PUNCT
fsr-3132	319	31	for	for	ADP
fsr-3132	319	32	retirement	retirement	NOUN
fsr-3132	319	33	plan	plan	NOUN
fsr-3132	319	34	participants	participant	NOUN
fsr-3132	319	35	who	who	PRON
fsr-3132	319	36	fail	fail	VERB
fsr-3132	319	37	to	to	PART
fsr-3132	319	38	choose	choose	VERB
fsr-3132	319	39	an	an	DET
fsr-3132	319	40	allocation	allocation	NOUN
fsr-3132	319	41	for	for	ADP
fsr-3132	319	42	their	their	PRON
fsr-3132	319	43	retirement	retirement	NOUN
fsr-3132	319	44	contributions	contribution	NOUN
fsr-3132	319	45	.	.	PUNCT
fsr-3132	320	1	one	one	NUM
fsr-3132	320	2	of	of	ADP
fsr-3132	320	3	the	the	DET
fsr-3132	320	4	four	four	NUM
fsr-3132	320	5	mechanisms	mechanism	NOUN
fsr-3132	320	6	described	describe	VERB
fsr-3132	320	7	in	in	ADP
fsr-3132	320	8	the	the	DET
fsr-3132	320	9	ppa	ppa	PROPN
fsr-3132	320	10	says	say	VERB
fsr-3132	320	11	that	that	SCONJ
fsr-3132	320	12	the	the	DET
fsr-3132	320	13	qualified	qualified	ADJ
fsr-3132	320	14	default	default	NOUN
fsr-3132	320	15	instrument	instrument	NOUN
fsr-3132	320	16	should	should	AUX
fsr-3132	320	17	have	have	VERB
fsr-3132	320	18	a	a	DET
fsr-3132	320	19	portfolio	portfolio	NOUN
fsr-3132	320	20	mix	mix	NOUN
fsr-3132	320	21	that	that	PRON
fsr-3132	320	22	considers	consider	VERB
fsr-3132	320	23	an	an	DET
fsr-3132	320	24	investor	investor	NOUN
fsr-3132	320	25	’s	’s	PART
fsr-3132	320	26	age	age	NOUN
fsr-3132	320	27	or	or	CCONJ
fsr-3132	320	28	retirement	retirement	NOUN
fsr-3132	320	29	date	date	NOUN
fsr-3132	320	30	(	(	PUNCT
fsr-3132	320	31	employee	employee	NOUN
fsr-3132	320	32	benefits	benefit	VERB
fsr-3132	320	33	security	security	NOUN
fsr-3132	320	34	administration	administration	NOUN
fsr-3132	320	35	,	,	PUNCT
fsr-3132	320	36	2009	2009	NUM
fsr-3132	320	37	)	)	PUNCT
fsr-3132	320	38	.	.	PUNCT
fsr-3132	321	1	tdfs	tdfs	PROPN
fsr-3132	321	2	,	,	PUNCT
fsr-3132	321	3	also	also	ADV
fsr-3132	321	4	known	know	VERB
fsr-3132	321	5	as	as	ADP
fsr-3132	321	6	lifecycle	lifecycle	NOUN
fsr-3132	321	7	funds	fund	NOUN
fsr-3132	321	8	,	,	PUNCT
fsr-3132	321	9	change	change	VERB
fsr-3132	321	10	asset	asset	NOUN
fsr-3132	321	11	allocation	allocation	NOUN
fsr-3132	321	12	on	on	ADP
fsr-3132	321	13	a	a	DET
fsr-3132	321	14	pre	pre	ADJ
fsr-3132	321	15	-	-	ADJ
fsr-3132	321	16	stated	stated	ADJ
fsr-3132	321	17	schedule	schedule	NOUN
fsr-3132	321	18	,	,	PUNCT
fsr-3132	321	19	depending	depend	VERB
fsr-3132	321	20	upon	upon	SCONJ
fsr-3132	321	21	an	an	DET
fsr-3132	321	22	investor	investor	NOUN
fsr-3132	321	23	’s	’s	PART
fsr-3132	321	24	age	age	NOUN
fsr-3132	321	25	relative	relative	ADJ
fsr-3132	321	26	to	to	ADP
fsr-3132	321	27	retirement	retirement	NOUN
fsr-3132	321	28	,	,	PUNCT
fsr-3132	321	29	can	can	AUX
fsr-3132	321	30	therefore	therefore	ADV
fsr-3132	321	31	be	be	AUX
fsr-3132	321	32	used	use	VERB
fsr-3132	321	33	by	by	ADP
fsr-3132	321	34	plan	plan	NOUN
fsr-3132	321	35	sponsors	sponsor	NOUN
fsr-3132	321	36	as	as	ADP
fsr-3132	321	37	a	a	DET
fsr-3132	321	38	default	default	NOUN
fsr-3132	321	39	option	option	NOUN
fsr-3132	321	40	for	for	ADP
fsr-3132	321	41	those	those	DET
fsr-3132	321	42	participants	participant	NOUN
fsr-3132	321	43	who	who	PRON
fsr-3132	321	44	fail	fail	VERB
fsr-3132	321	45	to	to	PART
fsr-3132	321	46	choose	choose	VERB
fsr-3132	321	47	an	an	DET
fsr-3132	321	48	investment	investment	NOUN
fsr-3132	321	49	allocation	allocation	NOUN
fsr-3132	321	50	for	for	ADP
fsr-3132	321	51	themselves	themselves	PRON
fsr-3132	321	52	.	.	PUNCT
fsr-3132	322	1	2	2	NUM
fsr-3132	322	2	in	in	ADP
fsr-3132	322	3	this	this	DET
fsr-3132	322	4	article	article	NOUN
fsr-3132	322	5	we	we	PRON
fsr-3132	322	6	use	use	VERB
fsr-3132	322	7	terms	term	NOUN
fsr-3132	322	8	“	"	PUNCT
fsr-3132	322	9	lifecycle	lifecycle	NOUN
fsr-3132	322	10	fund	fund	NOUN
fsr-3132	322	11	”	"	PUNCT
fsr-3132	322	12	and	and	CCONJ
fsr-3132	322	13	“	"	PUNCT
fsr-3132	322	14	target	target	NOUN
fsr-3132	322	15	-	-	PUNCT
fsr-3132	322	16	date	date	NOUN
fsr-3132	322	17	fund	fund	NOUN
fsr-3132	322	18	(	(	PUNCT
fsr-3132	322	19	tdf	tdf	PROPN
fsr-3132	322	20	)	)	PUNCT
fsr-3132	322	21	”	"	PUNCT
fsr-3132	322	22	interchangeably	interchangeably	ADV
fsr-3132	322	23	.	.	PUNCT
fsr-3132	323	1	3	3	NUM
fsr-3132	323	2	when	when	SCONJ
fsr-3132	323	3	wealth	wealth	NOUN
fsr-3132	323	4	is	be	AUX
fsr-3132	323	5	taken	take	VERB
fsr-3132	323	6	into	into	ADP
fsr-3132	323	7	account	account	NOUN
fsr-3132	323	8	,	,	PUNCT
fsr-3132	323	9	some	some	DET
fsr-3132	323	10	studies	study	NOUN
fsr-3132	323	11	have	have	AUX
fsr-3132	323	12	shown	show	VERB
fsr-3132	323	13	that	that	SCONJ
fsr-3132	323	14	as	as	SCONJ
fsr-3132	323	15	investors	investor	NOUN
fsr-3132	323	16	get	get	VERB
fsr-3132	323	17	older	old	ADJ
fsr-3132	323	18	and	and	CCONJ
fsr-3132	323	19	their	their	PRON
fsr-3132	323	20	wealth	wealth	NOUN
fsr-3132	323	21	increases	increase	NOUN
fsr-3132	323	22	,	,	PUNCT
fsr-3132	323	23	their	their	PRON
fsr-3132	323	24	(	(	PUNCT
fsr-3132	323	25	absolute	absolute	ADJ
fsr-3132	323	26	)	)	PUNCT
fsr-3132	323	27	risk	risk	NOUN
fsr-3132	323	28	aversion	aversion	NOUN
fsr-3132	323	29	may	may	AUX
fsr-3132	323	30	not	not	PART
fsr-3132	323	31	increase	increase	VERB
fsr-3132	323	32	.	.	PUNCT
fsr-3132	324	1	however	however	ADV
fsr-3132	324	2	,	,	PUNCT
fsr-3132	324	3	siegel	siegel	NOUN
fsr-3132	324	4	and	and	CCONJ
fsr-3132	324	5	hoban	hoban	PROPN
fsr-3132	324	6	(	(	PUNCT
fsr-3132	324	7	1982	1982	NUM
fsr-3132	324	8	)	)	PUNCT
fsr-3132	324	9	show	show	VERB
fsr-3132	324	10	that	that	SCONJ
fsr-3132	324	11	there	there	PRON
fsr-3132	324	12	is	be	VERB
fsr-3132	324	13	an	an	DET
fsr-3132	324	14	increasing	increase	VERB
fsr-3132	324	15	relative	relative	ADJ
fsr-3132	324	16	risk	risk	NOUN
fsr-3132	324	17	aversion	aversion	NOUN
fsr-3132	324	18	with	with	ADP
fsr-3132	324	19	wealth	wealth	NOUN
fsr-3132	324	20	if	if	SCONJ
fsr-3132	324	21	a	a	DET
fsr-3132	324	22	broader	broader	ADV
fsr-3132	324	23	based	base	VERB
fsr-3132	324	24	sample	sample	NOUN
fsr-3132	324	25	and	and	CCONJ
fsr-3132	324	26	a	a	DET
fsr-3132	324	27	more	more	ADV
fsr-3132	324	28	comprehensive	comprehensive	ADJ
fsr-3132	324	29	measurement	measurement	NOUN
fsr-3132	324	30	of	of	ADP
fsr-3132	324	31	wealth	wealth	NOUN
fsr-3132	324	32	are	be	AUX
fsr-3132	324	33	used	use	VERB
fsr-3132	324	34	.	.	PUNCT
fsr-3132	324	35	4	4	NUM
fsr-3132	324	36	in	in	ADP
fsr-3132	324	37	this	this	DET
fsr-3132	324	38	article	article	NOUN
fsr-3132	324	39	we	we	PRON
fsr-3132	324	40	focus	focus	VERB
fsr-3132	324	41	on	on	ADP
fsr-3132	324	42	a	a	DET
fsr-3132	324	43	representative	representative	ADJ
fsr-3132	324	44	investor	investor	NOUN
fsr-3132	324	45	who	who	PRON
fsr-3132	324	46	has	have	AUX
fsr-3132	324	47	failed	fail	VERB
fsr-3132	324	48	to	to	PART
fsr-3132	324	49	choose	choose	VERB
fsr-3132	324	50	a	a	DET
fsr-3132	324	51	fund	fund	NOUN
fsr-3132	324	52	for	for	ADP
fsr-3132	324	53	his	his	PRON
fsr-3132	324	54	contributions	contribution	NOUN
fsr-3132	324	55	towards	towards	ADP
fsr-3132	324	56	retirement	retirement	NOUN
fsr-3132	324	57	,	,	PUNCT
fsr-3132	324	58	or	or	CCONJ
fsr-3132	324	59	who	who	PRON
fsr-3132	324	60	wants	want	VERB
fsr-3132	324	61	to	to	PART
fsr-3132	324	62	make	make	VERB
fsr-3132	324	63	his	his	PRON
fsr-3132	324	64	contributions	contribution	NOUN
fsr-3132	324	65	with	with	ADP
fsr-3132	324	66	minimal	minimal	ADJ
fsr-3132	324	67	or	or	CCONJ
fsr-3132	324	68	no	no	DET
fsr-3132	324	69	interference	interference	NOUN
fsr-3132	324	70	during	during	ADP
fsr-3132	324	71	the	the	DET
fsr-3132	324	72	full	full	ADJ
fsr-3132	324	73	investment	investment	NOUN
fsr-3132	324	74	period	period	NOUN
fsr-3132	324	75	.	.	PUNCT
fsr-3132	325	1	this	this	PRON
fsr-3132	325	2	is	be	AUX
fsr-3132	325	3	an	an	DET
fsr-3132	325	4	investor	investor	NOUN
fsr-3132	325	5	who	who	PRON
fsr-3132	325	6	is	be	AUX
fsr-3132	325	7	kept	keep	VERB
fsr-3132	325	8	in	in	ADP
fsr-3132	325	9	mind	mind	NOUN
fsr-3132	325	10	in	in	ADP
fsr-3132	325	11	the	the	DET
fsr-3132	325	12	ppa	ppa	PROPN
fsr-3132	325	13	2006	2006	NUM
fsr-3132	325	14	that	that	PRON
fsr-3132	325	15	defined	define	VERB
fsr-3132	325	16	qdias	qdia	NOUN
fsr-3132	325	17	.	.	PUNCT
fsr-3132	326	1	this	this	PRON
fsr-3132	326	2	is	be	AUX
fsr-3132	326	3	also	also	ADV
fsr-3132	326	4	the	the	DET
fsr-3132	326	5	investor	investor	NOUN
fsr-3132	326	6	who	who	PRON
fsr-3132	326	7	without	without	ADP
fsr-3132	326	8	this	this	DET
fsr-3132	326	9	default	default	NOUN
fsr-3132	326	10	choice	choice	NOUN
fsr-3132	326	11	would	would	AUX
fsr-3132	326	12	have	have	AUX
fsr-3132	326	13	made	make	VERB
fsr-3132	326	14	no	no	DET
fsr-3132	326	15	or	or	CCONJ
fsr-3132	326	16	very	very	ADV
fsr-3132	326	17	small	small	ADJ
fsr-3132	326	18	contributions	contribution	NOUN
fsr-3132	326	19	toward	toward	ADP
fsr-3132	326	20	his	his	PRON
fsr-3132	326	21	retirement	retirement	NOUN
fsr-3132	326	22	welfare	welfare	NOUN
fsr-3132	326	23	.	.	PUNCT
fsr-3132	327	1	therefore	therefore	ADV
fsr-3132	327	2	,	,	PUNCT
fsr-3132	327	3	it	it	PRON
fsr-3132	327	4	is	be	AUX
fsr-3132	327	5	important	important	ADJ
fsr-3132	327	6	to	to	PART
fsr-3132	327	7	remember	remember	VERB
fsr-3132	327	8	that	that	SCONJ
fsr-3132	327	9	an	an	DET
fsr-3132	327	10	investor	investor	NOUN
fsr-3132	327	11	who	who	PRON
fsr-3132	327	12	actively	actively	ADV
fsr-3132	327	13	manages	manage	VERB
fsr-3132	327	14	his	his	PRON
fsr-3132	327	15	retirement	retirement	NOUN
fsr-3132	327	16	portfolio	portfolio	NOUN
fsr-3132	327	17	may	may	AUX
fsr-3132	327	18	find	find	VERB
fsr-3132	327	19	other	other	ADJ
fsr-3132	327	20	strategies	strategy	NOUN
fsr-3132	327	21	more	more	ADV
fsr-3132	327	22	suitable	suitable	ADJ
fsr-3132	327	23	.	.	PUNCT
fsr-3132	328	1	5	5	NUM
fsr-3132	328	2	hereafter	hereafter	ADV
fsr-3132	328	3	,	,	PUNCT
fsr-3132	328	4	all	all	DET
fsr-3132	328	5	risk	risk	NOUN
fsr-3132	328	6	aversions	aversion	NOUN
fsr-3132	328	7	included	include	VERB
fsr-3132	328	8	in	in	ADP
fsr-3132	328	9	this	this	DET
fsr-3132	328	10	article	article	NOUN
fsr-3132	328	11	mean	mean	VERB
fsr-3132	328	12	relative	relative	ADJ
fsr-3132	328	13	risk	risk	NOUN
fsr-3132	328	14	aversion	aversion	NOUN
fsr-3132	328	15	.	.	PUNCT
fsr-3132	329	1	6	6	NUM
fsr-3132	329	2	we	we	PRON
fsr-3132	329	3	assume	assume	VERB
fsr-3132	329	4	that	that	SCONJ
fsr-3132	329	5	the	the	DET
fsr-3132	329	6	relative	relative	ADJ
fsr-3132	329	7	risk	risk	NOUN
fsr-3132	329	8	aversion	aversion	NOUN
fsr-3132	329	9	changes	change	NOUN
fsr-3132	329	10	annually	annually	ADV
fsr-3132	329	11	.	.	PUNCT
fsr-3132	330	1	within	within	ADP
fsr-3132	330	2	each	each	DET
fsr-3132	330	3	month	month	NOUN
fsr-3132	330	4	during	during	ADP
fsr-3132	330	5	a	a	DET
fsr-3132	330	6	year	year	NOUN
fsr-3132	330	7	the	the	DET
fsr-3132	330	8	investor	investor	NOUN
fsr-3132	330	9	’s	’s	PART
fsr-3132	330	10	risk	risk	NOUN
fsr-3132	330	11	aversion	aversion	NOUN
fsr-3132	330	12	is	be	AUX
fsr-3132	330	13	assumed	assume	VERB
fsr-3132	330	14	to	to	PART
fsr-3132	330	15	stay	stay	VERB
fsr-3132	330	16	the	the	DET
fsr-3132	330	17	same	same	ADJ
fsr-3132	330	18	.	.	PUNCT
fsr-3132	331	1	7	7	NUM
fsr-3132	331	2	for	for	ADP
fsr-3132	331	3	robustness	robustness	NOUN
fsr-3132	332	1	,	,	PUNCT
fsr-3132	332	2	we	we	PRON
fsr-3132	332	3	also	also	ADV
fsr-3132	332	4	test	test	VERB
fsr-3132	332	5	with	with	ADP
fsr-3132	332	6	�	�	PROPN
fsr-3132	332	7	of	of	ADP
fsr-3132	332	8	0.95	0.95	NUM
fsr-3132	332	9	and	and	CCONJ
fsr-3132	332	10	0.90	0.90	NUM
fsr-3132	332	11	.	.	PUNCT
fsr-3132	333	1	the	the	DET
fsr-3132	333	2	results	result	NOUN
fsr-3132	333	3	are	be	AUX
fsr-3132	333	4	available	available	ADJ
fsr-3132	333	5	upon	upon	SCONJ
fsr-3132	333	6	request	request	NOUN
fsr-3132	333	7	.	.	PUNCT
fsr-3132	334	1	8	8	NUM
fsr-3132	334	2	as	as	ADP
fsr-3132	334	3	in	in	ADP
fsr-3132	334	4	liu	liu	PROPN
fsr-3132	334	5	,	,	PUNCT
fsr-3132	334	6	chang	chang	PROPN
fsr-3132	334	7	,	,	PUNCT
fsr-3132	334	8	de	de	PROPN
fsr-3132	334	9	jong	jong	PROPN
fsr-3132	334	10	,	,	PUNCT
fsr-3132	334	11	and	and	CCONJ
fsr-3132	334	12	robinson	robinson	PROPN
fsr-3132	334	13	(	(	PUNCT
fsr-3132	334	14	2011	2011	NUM
fsr-3132	334	15	)	)	PUNCT
fsr-3132	334	16	,	,	PUNCT
fsr-3132	334	17	we	we	PRON
fsr-3132	334	18	rebalance	rebalance	VERB
fsr-3132	334	19	the	the	DET
fsr-3132	334	20	portfolio	portfolio	NOUN
fsr-3132	334	21	annually	annually	ADV
fsr-3132	334	22	in	in	ADP
fsr-3132	334	23	the	the	DET
fsr-3132	334	24	beginning	beginning	NOUN
fsr-3132	334	25	of	of	ADP
fsr-3132	334	26	each	each	DET
fsr-3132	334	27	year	year	NOUN
fsr-3132	334	28	.	.	PUNCT
fsr-3132	335	1	therefore	therefore	ADV
fsr-3132	335	2	,	,	PUNCT
fsr-3132	335	3	within	within	ADP
fsr-3132	335	4	the	the	DET
fsr-3132	335	5	year	year	NOUN
fsr-3132	335	6	the	the	DET
fsr-3132	335	7	level	level	NOUN
fsr-3132	335	8	of	of	ADP
fsr-3132	335	9	equity	equity	NOUN
fsr-3132	335	10	in	in	ADP
fsr-3132	335	11	the	the	DET
fsr-3132	335	12	portfolio	portfolio	NOUN
fsr-3132	335	13	is	be	AUX
fsr-3132	335	14	kept	keep	VERB
fsr-3132	335	15	constant	constant	ADJ
fsr-3132	335	16	.	.	PUNCT
fsr-3132	336	1	9	9	NUM
fsr-3132	336	2	in	in	ADP
fsr-3132	336	3	eq	eq	ADP
fsr-3132	336	4	.	.	PUNCT
fsr-3132	337	1	(	(	PUNCT
fsr-3132	337	2	2	2	NUM
fsr-3132	337	3	)	)	PUNCT
fsr-3132	337	4	,	,	PUNCT
fsr-3132	337	5	the	the	DET
fsr-3132	337	6	lifetime	lifetime	NOUN
fsr-3132	337	7	expected	expect	VERB
fsr-3132	337	8	utility	utility	NOUN
fsr-3132	337	9	is	be	AUX
fsr-3132	337	10	based	base	VERB
fsr-3132	337	11	on	on	ADP
fsr-3132	337	12	the	the	DET
fsr-3132	337	13	mean	mean	NOUN
fsr-3132	337	14	and	and	CCONJ
fsr-3132	337	15	variance	variance	NOUN
fsr-3132	337	16	of	of	ADP
fsr-3132	337	17	the	the	DET
fsr-3132	337	18	portfolio	portfolio	NOUN
fsr-3132	337	19	,	,	PUNCT
fsr-3132	337	20	which	which	PRON
fsr-3132	337	21	are	be	AUX
fsr-3132	337	22	the	the	DET
fsr-3132	337	23	same	same	ADJ
fsr-3132	337	24	in	in	ADP
fsr-3132	337	25	the	the	DET
fsr-3132	337	26	1,000	1,000	NUM
fsr-3132	337	27	simulations	simulation	NOUN
fsr-3132	337	28	.	.	PUNCT
fsr-3132	338	1	this	this	PRON
fsr-3132	338	2	leads	lead	VERB
fsr-3132	338	3	to	to	ADP
fsr-3132	338	4	a	a	DET
fsr-3132	338	5	small	small	ADJ
fsr-3132	338	6	standard	standard	ADJ
fsr-3132	338	7	deviation	deviation	NOUN
fsr-3132	338	8	of	of	ADP
fsr-3132	338	9	the	the	DET
fsr-3132	338	10	utility	utility	NOUN
fsr-3132	338	11	difference	difference	NOUN
fsr-3132	338	12	series	series	NOUN
fsr-3132	338	13	and	and	CCONJ
fsr-3132	338	14	very	very	ADV
fsr-3132	338	15	large	large	ADJ
fsr-3132	338	16	t	t	NOUN
fsr-3132	338	17	-	-	PUNCT
fsr-3132	338	18	statistic	statistic	NOUN
fsr-3132	338	19	correspondingly	correspondingly	ADV
fsr-3132	338	20	.	.	PUNCT
fsr-3132	339	1	10	10	NUM
fsr-3132	339	2	unlike	unlike	ADP
fsr-3132	339	3	table	table	NOUN
fsr-3132	339	4	3	3	NUM
fsr-3132	339	5	,	,	PUNCT
fsr-3132	339	6	the	the	DET
fsr-3132	339	7	utility	utility	NOUN
fsr-3132	339	8	difference	difference	NOUN
fsr-3132	339	9	between	between	ADP
fsr-3132	339	10	the	the	DET
fsr-3132	339	11	best	good	ADJ
fsr-3132	339	12	lifecycle	lifecycle	NOUN
fsr-3132	339	13	and	and	CCONJ
fsr-3132	339	14	lifestyle	lifestyle	NOUN
fsr-3132	339	15	strategies	strategy	NOUN
fsr-3132	339	16	is	be	AUX
fsr-3132	339	17	not	not	PART
fsr-3132	339	18	statistically	statistically	ADV
fsr-3132	339	19	significant	significant	ADJ
fsr-3132	339	20	at	at	ADP
fsr-3132	339	21	any	any	DET
fsr-3132	339	22	conventional	conventional	ADJ
fsr-3132	339	23	level	level	NOUN
fsr-3132	339	24	for	for	ADP
fsr-3132	339	25	many	many	ADJ
fsr-3132	339	26	highly	highly	ADV
fsr-3132	339	27	risk	risk	NOUN
fsr-3132	339	28	averse	averse	ADJ
fsr-3132	339	29	investors	investor	NOUN
fsr-3132	339	30	.	.	PUNCT
fsr-3132	340	1	this	this	PRON
fsr-3132	340	2	is	be	AUX
fsr-3132	340	3	because	because	SCONJ
fsr-3132	340	4	of	of	ADP
fsr-3132	340	5	the	the	DET
fsr-3132	340	6	much	much	ADV
fsr-3132	340	7	higher	high	ADJ
fsr-3132	340	8	standard	standard	ADJ
fsr-3132	340	9	deviation	deviation	NOUN
fsr-3132	340	10	of	of	ADP
fsr-3132	340	11	the	the	DET
fsr-3132	340	12	utility	utility	NOUN
fsr-3132	340	13	differ186	differ186	PROPN
fsr-3132	340	14	r.p	r.p	PROPN
fsr-3132	340	15	.	.	PROPN
fsr-3132	340	16	chang	chang	PROPN
fsr-3132	340	17	et	et	PROPN
fsr-3132	340	18	al	al	PROPN
fsr-3132	340	19	.	.	PUNCT
fsr-3132	340	20	/	/	SYM
fsr-3132	340	21	financial	financial	ADJ
fsr-3132	340	22	services	service	NOUN
fsr-3132	340	23	review	review	VERB
fsr-3132	340	24	23	23	NUM
fsr-3132	340	25	(	(	PUNCT
fsr-3132	340	26	2014	2014	NUM
fsr-3132	340	27	)	)	PUNCT
fsr-3132	340	28	169–188	169–188	NUM
fsr-3132	340	29	ence	ence	NOUN
fsr-3132	340	30	series	series	NOUN
fsr-3132	340	31	in	in	ADP
fsr-3132	340	32	the	the	DET
fsr-3132	340	33	1,000	1,000	NUM
fsr-3132	340	34	simulations	simulation	NOUN
fsr-3132	340	35	,	,	PUNCT
fsr-3132	340	36	generated	generate	VERB
fsr-3132	340	37	from	from	ADP
fsr-3132	340	38	a	a	DET
fsr-3132	340	39	path	path	NOUN
fsr-3132	340	40	-	-	PUNCT
fsr-3132	340	41	dependent	dependent	ADJ
fsr-3132	340	42	utility	utility	NOUN
fsr-3132	340	43	model	model	NOUN
fsr-3132	340	44	specified	specify	VERB
fsr-3132	340	45	in	in	ADP
fsr-3132	340	46	eq	eq	ADP
fsr-3132	340	47	.	.	PUNCT
fsr-3132	341	1	(	(	PUNCT
fsr-3132	341	2	3	3	NUM
fsr-3132	341	3	)	)	PUNCT
fsr-3132	341	4	.	.	PUNCT
fsr-3132	342	1	11	11	NUM
fsr-3132	342	2	we	we	PRON
fsr-3132	342	3	also	also	ADV
fsr-3132	342	4	calculate	calculate	VERB
fsr-3132	342	5	the	the	DET
fsr-3132	342	6	expected	expect	VERB
fsr-3132	342	7	utility	utility	NOUN
fsr-3132	342	8	for	for	ADP
fsr-3132	342	9	glide	glide	ADJ
fsr-3132	342	10	path	path	NOUN
fsr-3132	342	11	strategies	strategy	NOUN
fsr-3132	342	12	with	with	ADP
fsr-3132	342	13	the	the	DET
fsr-3132	342	14	kink	kink	NOUN
fsr-3132	342	15	at	at	ADP
fsr-3132	342	16	20	20	NUM
fsr-3132	342	17	and	and	CCONJ
fsr-3132	342	18	10	10	NUM
fsr-3132	342	19	years	year	NOUN
fsr-3132	342	20	before	before	ADP
fsr-3132	342	21	the	the	DET
fsr-3132	342	22	target	target	NOUN
fsr-3132	342	23	year	year	NOUN
fsr-3132	342	24	and	and	CCONJ
fsr-3132	342	25	our	our	PRON
fsr-3132	342	26	results	result	NOUN
fsr-3132	342	27	are	be	AUX
fsr-3132	342	28	qualitatively	qualitatively	ADV
fsr-3132	342	29	similar	similar	ADJ
fsr-3132	342	30	as	as	ADP
fsr-3132	342	31	in	in	ADP
fsr-3132	342	32	the	the	DET
fsr-3132	342	33	30	30	NUM
fsr-3132	342	34	year	year	NOUN
fsr-3132	342	35	case	case	NOUN
fsr-3132	342	36	.	.	PUNCT
fsr-3132	343	1	these	these	DET
fsr-3132	343	2	results	result	NOUN
fsr-3132	343	3	are	be	AUX
fsr-3132	343	4	unreported	unreported	ADJ
fsr-3132	343	5	to	to	PART
fsr-3132	343	6	save	save	VERB
fsr-3132	343	7	place	place	NOUN
fsr-3132	343	8	,	,	PUNCT
fsr-3132	343	9	and	and	CCONJ
fsr-3132	343	10	are	be	AUX
fsr-3132	343	11	available	available	ADJ
fsr-3132	343	12	upon	upon	SCONJ
fsr-3132	343	13	request	request	NOUN
fsr-3132	343	14	.	.	PUNCT
fsr-3132	344	1	12	12	NUM
fsr-3132	344	2	the	the	DET
fsr-3132	344	3	results	result	NOUN
fsr-3132	344	4	are	be	AUX
fsr-3132	344	5	similar	similar	ADJ
fsr-3132	344	6	when	when	SCONJ
fsr-3132	344	7	we	we	PRON
fsr-3132	344	8	assume	assume	VERB
fsr-3132	344	9	the	the	DET
fsr-3132	344	10	investor	investor	NOUN
fsr-3132	344	11	’s	’s	PART
fsr-3132	344	12	risk	risk	NOUN
fsr-3132	344	13	aversion	aversion	NOUN
fsr-3132	344	14	starts	start	VERB
fsr-3132	344	15	to	to	PART
fsr-3132	344	16	increase	increase	VERB
fsr-3132	344	17	20	20	NUM
fsr-3132	344	18	years	year	NOUN
fsr-3132	344	19	before	before	ADP
fsr-3132	344	20	the	the	DET
fsr-3132	344	21	target	target	NOUN
fsr-3132	344	22	retirement	retirement	NOUN
fsr-3132	344	23	.	.	PUNCT
fsr-3132	345	1	they	they	PRON
fsr-3132	345	2	are	be	AUX
fsr-3132	345	3	available	available	ADJ
fsr-3132	345	4	upon	upon	SCONJ
fsr-3132	345	5	request	request	NOUN
fsr-3132	345	6	.	.	PUNCT
fsr-3132	346	1	references	reference	NOUN
fsr-3132	346	2	agnew	agnew	PROPN
fsr-3132	346	3	,	,	PUNCT
fsr-3132	346	4	j.	j.	PROPN
fsr-3132	346	5	,	,	PUNCT
fsr-3132	346	6	balduzzi	balduzzi	NOUN
fsr-3132	346	7	,	,	PUNCT
fsr-3132	346	8	p.	p.	PROPN
fsr-3132	346	9	,	,	PUNCT
fsr-3132	346	10	&	&	CCONJ
fsr-3132	346	11	sundén	sundén	PROPN
fsr-3132	346	12	,	,	PUNCT
fsr-3132	346	13	a.(2003	a.(2003	PROPN
fsr-3132	346	14	)	)	PUNCT
fsr-3132	346	15	.	.	PUNCT
fsr-3132	347	1	portfolio	portfolio	NOUN
fsr-3132	347	2	choice	choice	NOUN
fsr-3132	347	3	and	and	CCONJ
fsr-3132	347	4	trading	trading	NOUN
fsr-3132	347	5	in	in	ADP
fsr-3132	347	6	a	a	DET
fsr-3132	347	7	large	large	ADJ
fsr-3132	347	8	401(k	401(k	PROPN
fsr-3132	347	9	)	)	PUNCT
fsr-3132	347	10	plan	plan	NOUN
fsr-3132	347	11	.	.	PUNCT
fsr-3132	348	1	american	american	PROPN
fsr-3132	348	2	economic	economic	PROPN
fsr-3132	348	3	review	review	PROPN
fsr-3132	348	4	,	,	PUNCT
fsr-3132	348	5	93	93	NUM
fsr-3132	348	6	,	,	PUNCT
fsr-3132	348	7	193–215	193–215	NUM
fsr-3132	348	8	.	.	PUNCT
fsr-3132	349	1	ameriks	ameriks	PROPN
fsr-3132	349	2	,	,	PUNCT
fsr-3132	349	3	j.	j.	PROPN
fsr-3132	349	4	,	,	PUNCT
fsr-3132	349	5	&	&	CCONJ
fsr-3132	349	6	zeldes	zelde	NOUN
fsr-3132	349	7	,	,	PUNCT
fsr-3132	349	8	s.	s.	PROPN
fsr-3132	349	9	p.	p.	PROPN
fsr-3132	349	10	(	(	PUNCT
fsr-3132	349	11	2004	2004	NUM
fsr-3132	349	12	)	)	PUNCT
fsr-3132	349	13	.	.	PUNCT
fsr-3132	350	1	how	how	SCONJ
fsr-3132	350	2	do	do	AUX
fsr-3132	350	3	household	household	NOUN
fsr-3132	350	4	portfolio	portfolio	NOUN
fsr-3132	350	5	shares	share	NOUN
fsr-3132	350	6	vary	vary	VERB
fsr-3132	350	7	with	with	ADP
fsr-3132	350	8	age	age	NOUN
fsr-3132	350	9	?	?	PUNCT
fsr-3132	351	1	working	work	VERB
fsr-3132	351	2	paper	paper	NOUN
fsr-3132	351	3	,	,	PUNCT
fsr-3132	351	4	columbia	columbia	PROPN
fsr-3132	351	5	business	business	PROPN
fsr-3132	351	6	school	school	PROPN
fsr-3132	351	7	.	.	PUNCT
fsr-3132	352	1	bakshi	bakshi	PROPN
fsr-3132	352	2	,	,	PUNCT
fsr-3132	352	3	g.	g.	PROPN
fsr-3132	352	4	s.	s.	PROPN
fsr-3132	352	5	,	,	PUNCT
fsr-3132	352	6	&	&	CCONJ
fsr-3132	352	7	chen	chen	PROPN
fsr-3132	352	8	,	,	PUNCT
fsr-3132	352	9	z.	z.	PROPN
fsr-3132	352	10	(	(	PUNCT
fsr-3132	352	11	1994	1994	NUM
fsr-3132	352	12	)	)	PUNCT
fsr-3132	352	13	.	.	PUNCT
fsr-3132	353	1	baby	baby	NOUN
fsr-3132	353	2	boom	boom	NOUN
fsr-3132	353	3	,	,	PUNCT
fsr-3132	353	4	population	population	NOUN
fsr-3132	353	5	aging	aging	NOUN
fsr-3132	353	6	,	,	PUNCT
fsr-3132	353	7	and	and	CCONJ
fsr-3132	353	8	capital	capital	NOUN
fsr-3132	353	9	markets	market	NOUN
fsr-3132	353	10	.	.	PUNCT
fsr-3132	354	1	journal	journal	NOUN
fsr-3132	354	2	of	of	ADP
fsr-3132	354	3	business	business	NOUN
fsr-3132	354	4	,	,	PUNCT
fsr-3132	354	5	67	67	NUM
fsr-3132	354	6	,	,	PUNCT
fsr-3132	354	7	165–202	165–202	NUM
fsr-3132	354	8	.	.	PUNCT
fsr-3132	355	1	balduzzi	balduzzi	NOUN
fsr-3132	355	2	,	,	PUNCT
fsr-3132	355	3	p.	p.	PROPN
fsr-3132	355	4	,	,	PUNCT
fsr-3132	355	5	&	&	CCONJ
fsr-3132	355	6	reuter	reuter	PROPN
fsr-3132	355	7	,	,	PUNCT
fsr-3132	355	8	j.	j.	PROPN
fsr-3132	355	9	(	(	PUNCT
fsr-3132	355	10	2012	2012	NUM
fsr-3132	355	11	)	)	PUNCT
fsr-3132	355	12	.	.	PUNCT
fsr-3132	356	1	heterogeneity	heterogeneity	NOUN
fsr-3132	356	2	in	in	ADP
fsr-3132	356	3	target	target	NOUN
fsr-3132	356	4	-	-	PUNCT
fsr-3132	356	5	date	date	NOUN
fsr-3132	356	6	funds	fund	NOUN
fsr-3132	356	7	and	and	CCONJ
fsr-3132	356	8	the	the	DET
fsr-3132	356	9	pension	pension	NOUN
fsr-3132	356	10	protection	protection	NOUN
fsr-3132	356	11	act	act	NOUN
fsr-3132	356	12	of	of	ADP
fsr-3132	356	13	2006	2006	NUM
fsr-3132	356	14	.	.	PUNCT
fsr-3132	357	1	working	work	VERB
fsr-3132	357	2	paper	paper	NOUN
fsr-3132	357	3	,	,	PUNCT
fsr-3132	357	4	national	national	ADJ
fsr-3132	357	5	bureau	bureau	PROPN
fsr-3132	357	6	of	of	ADP
fsr-3132	357	7	economic	economic	ADJ
fsr-3132	357	8	research	research	NOUN
fsr-3132	357	9	.	.	PUNCT
fsr-3132	358	1	bali	bali	PROPN
fsr-3132	358	2	,	,	PUNCT
fsr-3132	358	3	t.	t.	PROPN
fsr-3132	358	4	g.	g.	PROPN
fsr-3132	358	5	,	,	PUNCT
fsr-3132	358	6	demirtas	demirta	NOUN
fsr-3132	358	7	,	,	PUNCT
fsr-3132	358	8	k.	k.	PROPN
fsr-3132	358	9	o.	o.	PROPN
fsr-3132	358	10	,	,	PUNCT
fsr-3132	358	11	levy	levy	NOUN
fsr-3132	358	12	,	,	PUNCT
fsr-3132	358	13	h.	h.	PROPN
fsr-3132	358	14	,	,	PUNCT
fsr-3132	358	15	&	&	CCONJ
fsr-3132	358	16	wolf	wolf	PROPN
fsr-3132	358	17	,	,	PUNCT
fsr-3132	358	18	a.	a.	NOUN
fsr-3132	358	19	(	(	PUNCT
fsr-3132	358	20	2009	2009	NUM
fsr-3132	358	21	)	)	PUNCT
fsr-3132	358	22	.	.	PUNCT
fsr-3132	359	1	bonds	bond	NOUN
fsr-3132	359	2	versus	versus	ADP
fsr-3132	359	3	stocks	stock	NOUN
fsr-3132	359	4	:	:	PUNCT
fsr-3132	359	5	investors	investor	NOUN
fsr-3132	359	6	’	’	PART
fsr-3132	359	7	age	age	NOUN
fsr-3132	359	8	and	and	CCONJ
fsr-3132	359	9	risk	risk	NOUN
fsr-3132	359	10	taking	taking	NOUN
fsr-3132	359	11	.	.	PUNCT
fsr-3132	360	1	journal	journal	PROPN
fsr-3132	360	2	of	of	ADP
fsr-3132	360	3	monetary	monetary	ADJ
fsr-3132	360	4	economics	economic	NOUN
fsr-3132	360	5	,	,	PUNCT
fsr-3132	360	6	56	56	NUM
fsr-3132	360	7	,	,	PUNCT
fsr-3132	360	8	817–830	817–830	NUM
fsr-3132	360	9	.	.	PUNCT
fsr-3132	361	1	basu	basu	PROPN
fsr-3132	361	2	,	,	PUNCT
fsr-3132	361	3	a.	a.	PROPN
fsr-3132	361	4	k.	k.	PROPN
fsr-3132	361	5	,	,	PUNCT
fsr-3132	361	6	&	&	CCONJ
fsr-3132	361	7	drew	draw	VERB
fsr-3132	361	8	,	,	PUNCT
fsr-3132	361	9	m.	m.	PROPN
fsr-3132	361	10	e.	e.	PROPN
fsr-3132	361	11	(	(	PUNCT
fsr-3132	361	12	2009	2009	NUM
fsr-3132	361	13	)	)	PUNCT
fsr-3132	361	14	.	.	PUNCT
fsr-3132	362	1	portfolio	portfolio	NOUN
fsr-3132	362	2	size	size	NOUN
fsr-3132	362	3	effect	effect	NOUN
fsr-3132	362	4	in	in	ADP
fsr-3132	362	5	retirement	retirement	NOUN
fsr-3132	362	6	accounts	account	NOUN
fsr-3132	362	7	:	:	PUNCT
fsr-3132	362	8	what	what	PRON
fsr-3132	362	9	does	do	AUX
fsr-3132	362	10	it	it	PRON
fsr-3132	362	11	imply	imply	VERB
fsr-3132	362	12	for	for	ADP
fsr-3132	362	13	lifecycle	lifecycle	NOUN
fsr-3132	362	14	asset	asset	NOUN
fsr-3132	362	15	allocation	allocation	NOUN
fsr-3132	362	16	funds	fund	NOUN
fsr-3132	362	17	?	?	PUNCT
fsr-3132	363	1	journal	journal	PROPN
fsr-3132	363	2	of	of	ADP
fsr-3132	363	3	portfolio	portfolio	NOUN
fsr-3132	363	4	management	management	NOUN
fsr-3132	363	5	,	,	PUNCT
fsr-3132	363	6	35	35	NUM
fsr-3132	363	7	,	,	PUNCT
fsr-3132	363	8	61–72	61–72	NUM
fsr-3132	363	9	.	.	PUNCT
fsr-3132	364	1	bodie	bodie	PROPN
fsr-3132	364	2	,	,	PUNCT
fsr-3132	364	3	z.	z.	PROPN
fsr-3132	364	4	,	,	PUNCT
fsr-3132	364	5	merton	merton	PROPN
fsr-3132	364	6	,	,	PUNCT
fsr-3132	364	7	r.	r.	PROPN
fsr-3132	364	8	c.	c.	PROPN
fsr-3132	364	9	,	,	PUNCT
fsr-3132	364	10	&	&	CCONJ
fsr-3132	364	11	samuelson	samuelson	PROPN
fsr-3132	364	12	,	,	PUNCT
fsr-3132	364	13	w.	w.	PROPN
fsr-3132	364	14	f.(1992	f.(1992	PROPN
fsr-3132	364	15	)	)	PUNCT
fsr-3132	364	16	.	.	PUNCT
fsr-3132	365	1	labor	labor	NOUN
fsr-3132	365	2	supply	supply	NOUN
fsr-3132	365	3	flexibility	flexibility	NOUN
fsr-3132	365	4	and	and	CCONJ
fsr-3132	365	5	portfolio	portfolio	NOUN
fsr-3132	365	6	choice	choice	NOUN
fsr-3132	365	7	in	in	ADP
fsr-3132	365	8	a	a	DET
fsr-3132	365	9	life	life	NOUN
fsr-3132	365	10	cycle	cycle	NOUN
fsr-3132	365	11	model	model	NOUN
fsr-3132	365	12	.	.	PUNCT
fsr-3132	366	1	journal	journal	PROPN
fsr-3132	366	2	of	of	ADP
fsr-3132	366	3	economic	economic	ADJ
fsr-3132	366	4	dynamics	dynamic	NOUN
fsr-3132	366	5	and	and	CCONJ
fsr-3132	366	6	control	control	NOUN
fsr-3132	366	7	,	,	PUNCT
fsr-3132	366	8	16	16	NUM
fsr-3132	366	9	,	,	PUNCT
fsr-3132	366	10	427–449	427–449	NUM
fsr-3132	366	11	.	.	PUNCT
fsr-3132	367	1	bodie	bodie	PROPN
fsr-3132	367	2	,	,	PUNCT
fsr-3132	367	3	z.	z.	PROPN
fsr-3132	367	4	,	,	PUNCT
fsr-3132	367	5	&	&	CCONJ
fsr-3132	367	6	treussard	treussard	ADJ
fsr-3132	367	7	,	,	PUNCT
fsr-3132	367	8	j.(2007	j.(2007	PROPN
fsr-3132	367	9	)	)	PUNCT
fsr-3132	367	10	.	.	PUNCT
fsr-3132	368	1	making	make	VERB
fsr-3132	368	2	investment	investment	NOUN
fsr-3132	368	3	choices	choice	NOUN
fsr-3132	368	4	as	as	ADV
fsr-3132	368	5	simple	simple	ADJ
fsr-3132	368	6	as	as	ADP
fsr-3132	368	7	possible	possible	ADJ
fsr-3132	368	8	,	,	PUNCT
fsr-3132	368	9	but	but	CCONJ
fsr-3132	368	10	not	not	PART
fsr-3132	368	11	simpler	simple	ADJ
fsr-3132	368	12	.	.	PUNCT
fsr-3132	369	1	financial	financial	ADJ
fsr-3132	369	2	analysts	analyst	NOUN
fsr-3132	369	3	journal	journal	NOUN
fsr-3132	369	4	,	,	PUNCT
fsr-3132	369	5	63	63	NUM
fsr-3132	369	6	,	,	PUNCT
fsr-3132	369	7	42–47	42–47	NUM
fsr-3132	369	8	.	.	PUNCT
fsr-3132	369	9	branch	branch	PROPN
fsr-3132	369	10	,	,	PUNCT
fsr-3132	369	11	b.	b.	PROPN
fsr-3132	369	12	,	,	PUNCT
fsr-3132	369	13	&	&	CCONJ
fsr-3132	369	14	qiu	qiu	PROPN
fsr-3132	369	15	,	,	PUNCT
fsr-3132	369	16	l.	l.	PROPN
fsr-3132	369	17	(	(	PUNCT
fsr-3132	369	18	2011	2011	NUM
fsr-3132	369	19	)	)	PUNCT
fsr-3132	369	20	.	.	PUNCT
fsr-3132	370	1	exploring	explore	VERB
fsr-3132	370	2	the	the	DET
fsr-3132	370	3	pros	pro	NOUN
fsr-3132	370	4	and	and	CCONJ
fsr-3132	370	5	cons	con	NOUN
fsr-3132	370	6	of	of	ADP
fsr-3132	370	7	target	target	NOUN
fsr-3132	370	8	date	date	NOUN
fsr-3132	370	9	funds	fund	NOUN
fsr-3132	370	10	.	.	PUNCT
fsr-3132	371	1	financial	financial	ADJ
fsr-3132	371	2	services	service	NOUN
fsr-3132	371	3	review	review	PROPN
fsr-3132	371	4	,	,	PUNCT
fsr-3132	371	5	20	20	NUM
fsr-3132	371	6	,	,	PUNCT
fsr-3132	371	7	95–111	95–111	NUM
fsr-3132	371	8	.	.	PUNCT
fsr-3132	372	1	deakin	deakin	PROPN
fsr-3132	372	2	,	,	PUNCT
fsr-3132	372	3	j.	j.	PROPN
fsr-3132	372	4	,	,	PUNCT
fsr-3132	372	5	aitken	aitken	PROPN
fsr-3132	372	6	,	,	PUNCT
fsr-3132	372	7	m.	m.	NOUN
fsr-3132	372	8	,	,	PUNCT
fsr-3132	372	9	robbins	robbin	NOUN
fsr-3132	372	10	,	,	PUNCT
fsr-3132	372	11	t.	t.	PROPN
fsr-3132	372	12	,	,	PUNCT
fsr-3132	372	13	&	&	CCONJ
fsr-3132	372	14	bahakian	bahakian	PROPN
fsr-3132	372	15	,	,	PUNCT
fsr-3132	372	16	b.	b.	PROPN
fsr-3132	372	17	j.	j.	PROPN
fsr-3132	372	18	(	(	PUNCT
fsr-3132	372	19	2004	2004	NUM
fsr-3132	372	20	)	)	PUNCT
fsr-3132	372	21	.	.	PUNCT
fsr-3132	373	1	risk	risk	NOUN
fsr-3132	373	2	taking	take	VERB
fsr-3132	373	3	during	during	ADP
fsr-3132	373	4	decision	decision	NOUN
fsr-3132	373	5	-	-	PUNCT
fsr-3132	373	6	making	making	NOUN
fsr-3132	373	7	in	in	ADP
fsr-3132	373	8	normal	normal	ADJ
fsr-3132	373	9	volunteers	volunteer	NOUN
fsr-3132	373	10	changes	change	NOUN
fsr-3132	373	11	with	with	ADP
fsr-3132	373	12	age	age	NOUN
fsr-3132	373	13	.	.	PUNCT
fsr-3132	374	1	journal	journal	PROPN
fsr-3132	374	2	of	of	ADP
fsr-3132	374	3	international	international	ADJ
fsr-3132	374	4	neuropsychological	neuropsychological	ADJ
fsr-3132	374	5	society	society	NOUN
fsr-3132	374	6	,	,	PUNCT
fsr-3132	374	7	10	10	NUM
fsr-3132	374	8	,	,	PUNCT
fsr-3132	374	9	590–598	590–598	NUM
fsr-3132	374	10	.	.	PUNCT
fsr-3132	375	1	dynan	dynan	PROPN
fsr-3132	375	2	,	,	PUNCT
fsr-3132	375	3	k.	k.	PROPN
fsr-3132	375	4	e.	e.	PROPN
fsr-3132	375	5	,	,	PUNCT
fsr-3132	375	6	skinner	skinner	PROPN
fsr-3132	375	7	,	,	PUNCT
fsr-3132	375	8	j.	j.	PROPN
fsr-3132	375	9	,	,	PUNCT
fsr-3132	375	10	&	&	CCONJ
fsr-3132	375	11	zeldes	zelde	NOUN
fsr-3132	375	12	,	,	PUNCT
fsr-3132	376	1	s.	s.	PROPN
fsr-3132	376	2	p.	p.	PROPN
fsr-3132	376	3	(	(	PUNCT
fsr-3132	376	4	2002	2002	NUM
fsr-3132	376	5	)	)	PUNCT
fsr-3132	376	6	.	.	PUNCT
fsr-3132	377	1	the	the	DET
fsr-3132	377	2	importance	importance	NOUN
fsr-3132	377	3	of	of	ADP
fsr-3132	377	4	bequests	bequest	NOUN
fsr-3132	377	5	and	and	CCONJ
fsr-3132	377	6	lifecycle	lifecycle	NOUN
fsr-3132	377	7	saving	save	VERB
fsr-3132	377	8	in	in	ADP
fsr-3132	377	9	capital	capital	NOUN
fsr-3132	377	10	accumulation	accumulation	NOUN
fsr-3132	377	11	:	:	PUNCT
fsr-3132	377	12	a	a	DET
fsr-3132	377	13	new	new	ADJ
fsr-3132	377	14	answer	answer	NOUN
fsr-3132	377	15	.	.	PUNCT
fsr-3132	378	1	american	american	PROPN
fsr-3132	378	2	economic	economic	PROPN
fsr-3132	378	3	review	review	PROPN
fsr-3132	378	4	,	,	PUNCT
fsr-3132	378	5	92	92	NUM
fsr-3132	378	6	,	,	PUNCT
fsr-3132	378	7	274–278	274–278	NUM
fsr-3132	378	8	.	.	PUNCT
fsr-3132	379	1	employee	employee	NOUN
fsr-3132	379	2	benefits	benefit	VERB
fsr-3132	379	3	security	security	NOUN
fsr-3132	379	4	administration	administration	NOUN
fsr-3132	379	5	.	.	PUNCT
fsr-3132	380	1	(	(	PUNCT
fsr-3132	380	2	2009	2009	NUM
fsr-3132	380	3	)	)	PUNCT
fsr-3132	380	4	.	.	PUNCT
fsr-3132	381	1	factsheet	factsheet	NOUN
fsr-3132	381	2	:	:	PUNCT
fsr-3132	381	3	regulation	regulation	NOUN
fsr-3132	381	4	relating	relate	VERB
fsr-3132	381	5	to	to	ADP
fsr-3132	381	6	qualified	qualified	ADJ
fsr-3132	381	7	default	default	NOUN
fsr-3132	381	8	investment	investment	NOUN
fsr-3132	381	9	alternatives	alternative	NOUN
fsr-3132	381	10	in	in	ADP
fsr-3132	381	11	participant	participant	ADV
fsr-3132	381	12	-	-	PUNCT
fsr-3132	381	13	directed	direct	VERB
fsr-3132	381	14	individual	individual	ADJ
fsr-3132	381	15	account	account	NOUN
fsr-3132	381	16	plans	plan	NOUN
fsr-3132	381	17	.	.	PUNCT
fsr-3132	382	1	employee	employee	NOUN
fsr-3132	382	2	benefits	benefit	VERB
fsr-3132	382	3	security	security	PROPN
fsr-3132	382	4	administration	administration	NOUN
fsr-3132	382	5	(	(	PUNCT
fsr-3132	382	6	ebsa	ebsa	NOUN
fsr-3132	382	7	)	)	PUNCT
fsr-3132	382	8	newsroom	newsroom	NOUN
fsr-3132	382	9	.	.	PUNCT
fsr-3132	383	1	friend	friend	NOUN
fsr-3132	383	2	,	,	PUNCT
fsr-3132	383	3	i.	i.	PROPN
fsr-3132	383	4	,	,	PUNCT
fsr-3132	383	5	&	&	CCONJ
fsr-3132	383	6	blume	blume	PROPN
fsr-3132	383	7	,	,	PUNCT
fsr-3132	383	8	m.	m.	PROPN
fsr-3132	383	9	e.	e.	PROPN
fsr-3132	383	10	(	(	PUNCT
fsr-3132	383	11	1975	1975	NUM
fsr-3132	383	12	)	)	PUNCT
fsr-3132	383	13	.	.	PUNCT
fsr-3132	384	1	the	the	DET
fsr-3132	384	2	demand	demand	NOUN
fsr-3132	384	3	for	for	ADP
fsr-3132	384	4	risky	risky	ADJ
fsr-3132	384	5	assets	asset	NOUN
fsr-3132	384	6	.	.	PUNCT
fsr-3132	385	1	american	american	PROPN
fsr-3132	385	2	economic	economic	PROPN
fsr-3132	385	3	review	review	PROPN
fsr-3132	385	4	,	,	PUNCT
fsr-3132	385	5	65	65	NUM
fsr-3132	385	6	,	,	PUNCT
fsr-3132	385	7	900–922	900–922	NUM
fsr-3132	385	8	.	.	PUNCT
fsr-3132	385	9	gibson	gibson	PROPN
fsr-3132	385	10	,	,	PUNCT
fsr-3132	385	11	r.	r.	PROPN
fsr-3132	385	12	,	,	PUNCT
fsr-3132	385	13	michayluk	michayluk	PROPN
fsr-3132	385	14	,	,	PUNCT
fsr-3132	385	15	d.	d.	PROPN
fsr-3132	385	16	,	,	PUNCT
fsr-3132	385	17	&	&	CCONJ
fsr-3132	385	18	vane	vane	PROPN
fsr-3132	385	19	de	de	PROPN
fsr-3132	385	20	venter	venter	PROPN
fsr-3132	385	21	,	,	PUNCT
fsr-3132	385	22	g.	g.	PROPN
fsr-3132	385	23	(	(	PUNCT
fsr-3132	385	24	2013	2013	NUM
fsr-3132	385	25	)	)	PUNCT
fsr-3132	385	26	.	.	PUNCT
fsr-3132	386	1	financial	financial	ADJ
fsr-3132	386	2	risk	risk	NOUN
fsr-3132	386	3	tolerance	tolerance	NOUN
fsr-3132	386	4	:	:	PUNCT
fsr-3132	386	5	an	an	DET
fsr-3132	386	6	analysis	analysis	NOUN
fsr-3132	386	7	of	of	ADP
fsr-3132	386	8	unexplored	unexplored	ADJ
fsr-3132	386	9	factors	factor	NOUN
fsr-3132	386	10	.	.	PUNCT
fsr-3132	387	1	financial	financial	ADJ
fsr-3132	387	2	services	service	NOUN
fsr-3132	387	3	review	review	PROPN
fsr-3132	387	4	,	,	PUNCT
fsr-3132	387	5	22	22	NUM
fsr-3132	387	6	,	,	PUNCT
fsr-3132	387	7	23–50	23–50	NUM
fsr-3132	387	8	.	.	PUNCT
fsr-3132	388	1	grossman	grossman	PROPN
fsr-3132	388	2	,	,	PUNCT
fsr-3132	388	3	s.	s.	PROPN
fsr-3132	388	4	j.	j.	PROPN
fsr-3132	388	5	,	,	PUNCT
fsr-3132	388	6	&	&	CCONJ
fsr-3132	388	7	shiller	shiller	PROPN
fsr-3132	388	8	,	,	PUNCT
fsr-3132	388	9	r.	r.	PROPN
fsr-3132	388	10	j.	j.	PROPN
fsr-3132	388	11	(	(	PUNCT
fsr-3132	388	12	1982	1982	NUM
fsr-3132	388	13	)	)	PUNCT
fsr-3132	388	14	.	.	PUNCT
fsr-3132	389	1	the	the	DET
fsr-3132	389	2	determinants	determinant	NOUN
fsr-3132	389	3	of	of	ADP
fsr-3132	389	4	the	the	DET
fsr-3132	389	5	variability	variability	NOUN
fsr-3132	389	6	of	of	ADP
fsr-3132	389	7	stock	stock	NOUN
fsr-3132	389	8	market	market	NOUN
fsr-3132	389	9	prices	price	NOUN
fsr-3132	389	10	.	.	PUNCT
fsr-3132	390	1	american	american	PROPN
fsr-3132	390	2	economic	economic	PROPN
fsr-3132	390	3	review	review	PROPN
fsr-3132	390	4	,	,	PUNCT
fsr-3132	390	5	71	71	NUM
fsr-3132	390	6	,	,	PUNCT
fsr-3132	390	7	222–227	222–227	NUM
fsr-3132	390	8	.	.	PUNCT
fsr-3132	391	1	huang	huang	PROPN
fsr-3132	391	2	,	,	PUNCT
fsr-3132	391	3	c.	c.	PROPN
fsr-3132	391	4	,	,	PUNCT
fsr-3132	391	5	&	&	CCONJ
fsr-3132	391	6	litzenberger	litzenberger	PROPN
fsr-3132	391	7	,	,	PUNCT
fsr-3132	391	8	r.	r.	PROPN
fsr-3132	391	9	h.	h.	PROPN
fsr-3132	391	10	(	(	PUNCT
fsr-3132	391	11	1988	1988	NUM
fsr-3132	391	12	)	)	PUNCT
fsr-3132	391	13	.	.	PUNCT
fsr-3132	392	1	foundations	foundation	NOUN
fsr-3132	392	2	for	for	ADP
fsr-3132	392	3	financial	financial	ADJ
fsr-3132	392	4	economics	economic	NOUN
fsr-3132	392	5	.	.	PUNCT
fsr-3132	393	1	upper	upper	ADJ
fsr-3132	393	2	saddle	saddle	PROPN
fsr-3132	393	3	river	river	PROPN
fsr-3132	393	4	,	,	PUNCT
fsr-3132	393	5	nj	nj	PROPN
fsr-3132	393	6	:	:	PUNCT
fsr-3132	393	7	pearson	pearson	PROPN
fsr-3132	393	8	education	education	PROPN
fsr-3132	393	9	company	company	NOUN
fsr-3132	393	10	.	.	PUNCT
fsr-3132	394	1	idzorek	idzorek	NOUN
fsr-3132	394	2	,	,	PUNCT
fsr-3132	394	3	t.	t.	PROPN
fsr-3132	394	4	(	(	PUNCT
fsr-3132	394	5	2009	2009	NUM
fsr-3132	394	6	)	)	PUNCT
fsr-3132	394	7	.	.	PUNCT
fsr-3132	395	1	target	target	NOUN
fsr-3132	395	2	date	date	NOUN
fsr-3132	395	3	solutions	solution	NOUN
fsr-3132	395	4	:	:	PUNCT
fsr-3132	395	5	is	be	AUX
fsr-3132	395	6	a	a	DET
fsr-3132	395	7	target	target	NOUN
fsr-3132	395	8	date	date	NOUN
fsr-3132	395	9	enough	enough	ADV
fsr-3132	395	10	?	?	PUNCT
fsr-3132	396	1	cfa	cfa	PROPN
fsr-3132	396	2	institute	institute	PROPN
fsr-3132	396	3	conference	conference	PROPN
fsr-3132	396	4	proceedings	proceeding	NOUN
fsr-3132	396	5	quarterly	quarterly	ADV
fsr-3132	396	6	,	,	PUNCT
fsr-3132	396	7	26	26	NUM
fsr-3132	396	8	,	,	PUNCT
fsr-3132	396	9	81–89	81–89	NUM
fsr-3132	396	10	.	.	PUNCT
fsr-3132	397	1	investment	investment	NOUN
fsr-3132	397	2	company	company	PROPN
fsr-3132	397	3	institute	institute	NOUN
fsr-3132	397	4	.	.	PUNCT
fsr-3132	398	1	(	(	PUNCT
fsr-3132	398	2	2013	2013	NUM
fsr-3132	398	3	)	)	PUNCT
fsr-3132	398	4	.	.	PUNCT
fsr-3132	399	1	2013	2013	NUM
fsr-3132	399	2	investment	investment	NOUN
fsr-3132	399	3	company	company	NOUN
fsr-3132	399	4	institute	institute	PROPN
fsr-3132	399	5	fact	fact	NOUN
fsr-3132	399	6	book	book	NOUN
fsr-3132	399	7	:	:	PUNCT
fsr-3132	399	8	review	review	NOUN
fsr-3132	399	9	of	of	ADP
fsr-3132	399	10	trends	trend	NOUN
fsr-3132	399	11	and	and	CCONJ
fsr-3132	399	12	activities	activity	NOUN
fsr-3132	399	13	in	in	ADP
fsr-3132	399	14	the	the	DET
fsr-3132	399	15	u.s	u.s	PROPN
fsr-3132	399	16	.	.	PROPN
fsr-3132	399	17	investment	investment	NOUN
fsr-3132	399	18	company	company	NOUN
fsr-3132	399	19	industry	industry	NOUN
fsr-3132	399	20	.	.	PUNCT
fsr-3132	400	1	washington	washington	PROPN
fsr-3132	400	2	,	,	PUNCT
fsr-3132	400	3	dc	dc	PROPN
fsr-3132	400	4	:	:	PUNCT
fsr-3132	400	5	investment	investment	NOUN
fsr-3132	400	6	company	company	PROPN
fsr-3132	400	7	institute	institute	PROPN
fsr-3132	400	8	.	.	PUNCT
fsr-3132	401	1	jagannathan	jagannathan	PROPN
fsr-3132	401	2	,	,	PUNCT
fsr-3132	401	3	r.	r.	PROPN
fsr-3132	401	4	,	,	PUNCT
fsr-3132	401	5	&	&	CCONJ
fsr-3132	401	6	kocherlakota	kocherlakota	PROPN
fsr-3132	401	7	,	,	PUNCT
fsr-3132	401	8	n.	n.	PROPN
fsr-3132	401	9	r.	r.	PROPN
fsr-3132	401	10	(	(	PUNCT
fsr-3132	401	11	1996	1996	NUM
fsr-3132	401	12	)	)	PUNCT
fsr-3132	401	13	.	.	PUNCT
fsr-3132	402	1	why	why	SCONJ
fsr-3132	402	2	should	should	AUX
fsr-3132	402	3	older	old	ADJ
fsr-3132	402	4	people	people	NOUN
fsr-3132	402	5	invest	invest	VERB
fsr-3132	402	6	less	less	ADJ
fsr-3132	402	7	in	in	ADP
fsr-3132	402	8	stocks	stock	NOUN
fsr-3132	402	9	than	than	ADP
fsr-3132	402	10	younger	young	ADJ
fsr-3132	402	11	people	people	NOUN
fsr-3132	402	12	?	?	PUNCT
fsr-3132	403	1	federal	federal	PROPN
fsr-3132	403	2	reserve	reserve	PROPN
fsr-3132	403	3	bank	bank	PROPN
fsr-3132	403	4	of	of	ADP
fsr-3132	403	5	minneapolis	minneapolis	PROPN
fsr-3132	403	6	quarterly	quarterly	PROPN
fsr-3132	403	7	review	review	PROPN
fsr-3132	403	8	,	,	PUNCT
fsr-3132	403	9	20	20	NUM
fsr-3132	403	10	,	,	PUNCT
fsr-3132	403	11	11–23	11–23	NUM
fsr-3132	403	12	.	.	PUNCT
fsr-3132	404	1	187r.p	187r.p	PROPN
fsr-3132	404	2	.	.	PUNCT
fsr-3132	404	3	chang	chang	PROPN
fsr-3132	404	4	et	et	PROPN
fsr-3132	404	5	al	al	PROPN
fsr-3132	404	6	.	.	PUNCT
fsr-3132	404	7	/	/	SYM
fsr-3132	404	8	financial	financial	ADJ
fsr-3132	404	9	services	service	NOUN
fsr-3132	404	10	review	review	VERB
fsr-3132	404	11	23	23	NUM
fsr-3132	404	12	(	(	PUNCT
fsr-3132	404	13	2014	2014	NUM
fsr-3132	404	14	)	)	PUNCT
fsr-3132	404	15	169–188	169–188	NUM
fsr-3132	404	16	kahneman	kahneman	NOUN
fsr-3132	404	17	,	,	PUNCT
fsr-3132	404	18	d.	d.	PROPN
fsr-3132	404	19	,	,	PUNCT
fsr-3132	404	20	&	&	CCONJ
fsr-3132	404	21	tversky	tversky	PROPN
fsr-3132	404	22	,	,	PUNCT
fsr-3132	404	23	a.	a.	NOUN
fsr-3132	404	24	(	(	PUNCT
fsr-3132	404	25	1979	1979	NUM
fsr-3132	404	26	)	)	PUNCT
fsr-3132	404	27	.	.	PUNCT
fsr-3132	405	1	prospect	prospect	PROPN
fsr-3132	405	2	theory	theory	NOUN
fsr-3132	405	3	:	:	PUNCT
fsr-3132	405	4	an	an	DET
fsr-3132	405	5	analysis	analysis	NOUN
fsr-3132	405	6	of	of	ADP
fsr-3132	405	7	decision	decision	NOUN
fsr-3132	405	8	under	under	ADP
fsr-3132	405	9	risk	risk	NOUN
fsr-3132	405	10	.	.	PUNCT
fsr-3132	406	1	econometrica	econometrica	PROPN
fsr-3132	406	2	,	,	PUNCT
fsr-3132	406	3	47	47	NUM
fsr-3132	406	4	,	,	PUNCT
fsr-3132	406	5	263–291	263–291	NUM
fsr-3132	406	6	.	.	PUNCT
fsr-3132	407	1	lee	lee	PROPN
fsr-3132	407	2	,	,	PUNCT
fsr-3132	407	3	t.	t.	PROPN
fsr-3132	407	4	m.	m.	PROPN
fsr-3132	407	5	c.	c.	PROPN
fsr-3132	407	6	,	,	PUNCT
fsr-3132	407	7	leung	leung	PROPN
fsr-3132	407	8	,	,	PUNCT
fsr-3132	407	9	a.	a.	PROPN
fsr-3132	407	10	w.	w.	PROPN
fsr-3132	407	11	s.	s.	PROPN
fsr-3132	407	12	,	,	PUNCT
fsr-3132	407	13	fox	fox	PROPN
fsr-3132	407	14	,	,	PUNCT
fsr-3132	407	15	p.	p.	PROPN
fsr-3132	407	16	t.	t.	PROPN
fsr-3132	407	17	,	,	PUNCT
fsr-3132	407	18	&	&	CCONJ
fsr-3132	407	19	gao	gao	PROPN
fsr-3132	407	20	,	,	PUNCT
fsr-3132	407	21	j.	j.	PROPN
fsr-3132	407	22	(	(	PUNCT
fsr-3132	407	23	2007	2007	NUM
fsr-3132	407	24	)	)	PUNCT
fsr-3132	407	25	.	.	PUNCT
fsr-3132	408	1	age	age	NOUN
fsr-3132	408	2	-	-	PUNCT
fsr-3132	408	3	related	relate	VERB
fsr-3132	408	4	differences	difference	NOUN
fsr-3132	408	5	in	in	ADP
fsr-3132	408	6	neural	neural	ADJ
fsr-3132	408	7	activities	activity	NOUN
fsr-3132	408	8	during	during	ADP
fsr-3132	408	9	risk	risk	NOUN
fsr-3132	408	10	taking	taking	NOUN
fsr-3132	408	11	as	as	SCONJ
fsr-3132	408	12	revealed	reveal	VERB
fsr-3132	408	13	by	by	ADP
fsr-3132	408	14	functional	functional	ADJ
fsr-3132	408	15	mri	mri	NOUN
fsr-3132	408	16	.	.	PUNCT
fsr-3132	409	1	social	social	ADJ
fsr-3132	409	2	cognitive	cognitive	ADJ
fsr-3132	409	3	and	and	CCONJ
fsr-3132	409	4	affective	affective	ADJ
fsr-3132	409	5	neuroscience	neuroscience	NOUN
fsr-3132	409	6	,	,	PUNCT
fsr-3132	409	7	3	3	NUM
fsr-3132	409	8	,	,	PUNCT
fsr-3132	409	9	7–15	7–15	PROPN
fsr-3132	409	10	.	.	PUNCT
fsr-3132	410	1	lipton	lipton	PROPN
fsr-3132	410	2	,	,	PUNCT
fsr-3132	410	3	a.	a.	PROPN
fsr-3132	410	4	f.	f.	PROPN
fsr-3132	410	5	,	,	PUNCT
fsr-3132	410	6	&	&	CCONJ
fsr-3132	410	7	kish	kish	PROPN
fsr-3132	410	8	,	,	PUNCT
fsr-3132	410	9	r.	r.	PROPN
fsr-3132	410	10	j.(2011	j.(2011	PROPN
fsr-3132	410	11	)	)	PUNCT
fsr-3132	410	12	.	.	PUNCT
fsr-3132	411	1	life	life	NOUN
fsr-3132	411	2	cycle	cycle	NOUN
fsr-3132	411	3	funds	fund	NOUN
fsr-3132	411	4	:	:	PUNCT
fsr-3132	411	5	lack	lack	NOUN
fsr-3132	411	6	of	of	ADP
fsr-3132	411	7	disclosure	disclosure	NOUN
fsr-3132	411	8	and	and	CCONJ
fsr-3132	411	9	lack	lack	NOUN
fsr-3132	411	10	of	of	ADP
fsr-3132	411	11	return	return	NOUN
fsr-3132	411	12	.	.	PUNCT
fsr-3132	412	1	financial	financial	ADJ
fsr-3132	412	2	services	service	NOUN
fsr-3132	412	3	review	review	PROPN
fsr-3132	412	4	,	,	PUNCT
fsr-3132	412	5	20	20	NUM
fsr-3132	412	6	,	,	PUNCT
fsr-3132	412	7	75–94	75–94	NUM
fsr-3132	412	8	.	.	PUNCT
fsr-3132	413	1	liu	liu	PROPN
fsr-3132	413	2	,	,	PUNCT
fsr-3132	413	3	q.	q.	PROPN
fsr-3132	413	4	,	,	PUNCT
fsr-3132	413	5	chang	chang	PROPN
fsr-3132	413	6	,	,	PUNCT
fsr-3132	413	7	r.	r.	PROPN
fsr-3132	413	8	p.	p.	PROPN
fsr-3132	413	9	,	,	PUNCT
fsr-3132	413	10	de	de	PROPN
fsr-3132	413	11	jong	jong	PROPN
fsr-3132	413	12	,	,	PUNCT
fsr-3132	413	13	j.	j.	PROPN
fsr-3132	413	14	c.	c.	PROPN
fsr-3132	413	15	,	,	PUNCT
fsr-3132	413	16	&	&	CCONJ
fsr-3132	413	17	robinson	robinson	PROPN
fsr-3132	413	18	,	,	PUNCT
fsr-3132	413	19	j.	j.	PROPN
fsr-3132	413	20	h.(2009	h.(2009	PROPN
fsr-3132	413	21	)	)	PUNCT
fsr-3132	413	22	.	.	PUNCT
fsr-3132	414	1	reality	reality	NOUN
fsr-3132	414	2	check	check	NOUN
fsr-3132	414	3	:	:	PUNCT
fsr-3132	414	4	the	the	DET
fsr-3132	414	5	implications	implication	NOUN
fsr-3132	414	6	of	of	ADP
fsr-3132	414	7	applying	apply	VERB
fsr-3132	414	8	sustainable	sustainable	ADJ
fsr-3132	414	9	withdrawal	withdrawal	NOUN
fsr-3132	414	10	rate	rate	NOUN
fsr-3132	414	11	analysis	analysis	NOUN
fsr-3132	414	12	to	to	ADP
fsr-3132	414	13	real	real	ADJ
fsr-3132	414	14	world	world	NOUN
fsr-3132	414	15	portfolios	portfolio	NOUN
fsr-3132	414	16	.	.	PUNCT
fsr-3132	415	1	financial	financial	ADJ
fsr-3132	415	2	services	service	NOUN
fsr-3132	415	3	review	review	PROPN
fsr-3132	415	4	,	,	PUNCT
fsr-3132	415	5	18	18	NUM
fsr-3132	415	6	,	,	PUNCT
fsr-3132	415	7	123–139	123–139	NUM
fsr-3132	415	8	.	.	PUNCT
fsr-3132	416	1	liu	liu	PROPN
fsr-3132	416	2	,	,	PUNCT
fsr-3132	416	3	q.	q.	PROPN
fsr-3132	416	4	,	,	PUNCT
fsr-3132	416	5	chang	chang	PROPN
fsr-3132	416	6	,	,	PUNCT
fsr-3132	416	7	r.	r.	PROPN
fsr-3132	416	8	p.	p.	PROPN
fsr-3132	416	9	,	,	PUNCT
fsr-3132	416	10	de	de	PROPN
fsr-3132	416	11	jong	jong	PROPN
fsr-3132	416	12	,	,	PUNCT
fsr-3132	416	13	j.	j.	PROPN
fsr-3132	416	14	c	c	PROPN
fsr-3132	416	15	,	,	PUNCT
fsr-3132	416	16	&	&	CCONJ
fsr-3132	416	17	robinson	robinson	PROPN
fsr-3132	416	18	,	,	PUNCT
fsr-3132	416	19	j.	j.	PROPN
fsr-3132	416	20	h.	h.	PROPN
fsr-3132	416	21	(	(	PUNCT
fsr-3132	416	22	2011	2011	NUM
fsr-3132	416	23	)	)	PUNCT
fsr-3132	416	24	.	.	PUNCT
fsr-3132	417	1	are	be	AUX
fsr-3132	417	2	lifecycle	lifecycle	NOUN
fsr-3132	417	3	finds	find	VERB
fsr-3132	417	4	getting	get	VERB
fsr-3132	417	5	a	a	DET
fsr-3132	417	6	bum	bum	NOUN
fsr-3132	417	7	rap	rap	NOUN
fsr-3132	417	8	?	?	PUNCT
fsr-3132	418	1	a	a	DET
fsr-3132	418	2	comprehensive	comprehensive	ADJ
fsr-3132	418	3	comparison	comparison	NOUN
fsr-3132	418	4	of	of	ADP
fsr-3132	418	5	lifecycle	lifecycle	NOUN
fsr-3132	418	6	versus	versus	ADP
fsr-3132	418	7	lifestyle	lifestyle	NOUN
fsr-3132	418	8	retirement	retirement	NOUN
fsr-3132	418	9	strategies	strategy	NOUN
fsr-3132	418	10	from	from	ADP
fsr-3132	418	11	accumulation	accumulation	NOUN
fsr-3132	418	12	through	through	ADP
fsr-3132	418	13	withdrawal	withdrawal	NOUN
fsr-3132	418	14	.	.	PUNCT
fsr-3132	419	1	journal	journal	PROPN
fsr-3132	419	2	of	of	ADP
fsr-3132	419	3	wealth	wealth	NOUN
fsr-3132	419	4	management	management	NOUN
fsr-3132	419	5	,	,	PUNCT
fsr-3132	419	6	14	14	NUM
fsr-3132	419	7	,	,	PUNCT
fsr-3132	419	8	68–84	68–84	PROPN
fsr-3132	419	9	.	.	PUNCT
fsr-3132	420	1	malkiel	malkiel	PROPN
fsr-3132	420	2	,	,	PUNCT
fsr-3132	420	3	b.	b.	PROPN
fsr-3132	420	4	g.	g.	PROPN
fsr-3132	420	5	(	(	PUNCT
fsr-3132	420	6	2011	2011	NUM
fsr-3132	420	7	)	)	PUNCT
fsr-3132	420	8	.	.	PUNCT
fsr-3132	421	1	a	a	DET
fsr-3132	421	2	random	random	ADJ
fsr-3132	421	3	walk	walk	NOUN
fsr-3132	421	4	down	down	ADP
fsr-3132	421	5	wall	wall	PROPN
fsr-3132	421	6	street	street	PROPN
fsr-3132	421	7	:	:	PUNCT
fsr-3132	421	8	time	time	NOUN
fsr-3132	421	9	-	-	PUNCT
fsr-3132	421	10	tested	test	VERB
fsr-3132	421	11	strategy	strategy	NOUN
fsr-3132	421	12	for	for	ADP
fsr-3132	421	13	successful	successful	ADJ
fsr-3132	421	14	investing	investing	NOUN
fsr-3132	421	15	.	.	PUNCT
fsr-3132	422	1	new	new	PROPN
fsr-3132	422	2	york	york	PROPN
fsr-3132	422	3	,	,	PUNCT
fsr-3132	422	4	ny	ny	PROPN
fsr-3132	422	5	:	:	PUNCT
fsr-3132	422	6	w.w	w.w	PROPN
fsr-3132	422	7	.	.	PROPN
fsr-3132	422	8	norton	norton	PROPN
fsr-3132	422	9	&	&	CCONJ
fsr-3132	422	10	company	company	PROPN
fsr-3132	422	11	.	.	PUNCT
fsr-3132	423	1	morin	morin	PROPN
fsr-3132	423	2	,	,	PUNCT
fsr-3132	423	3	r.	r.	PROPN
fsr-3132	423	4	a.	a.	PROPN
fsr-3132	423	5	,	,	PUNCT
fsr-3132	423	6	&	&	CCONJ
fsr-3132	423	7	suarez	suarez	PROPN
fsr-3132	423	8	,	,	PUNCT
fsr-3132	423	9	a.	a.	PROPN
fsr-3132	423	10	f.	f.	PROPN
fsr-3132	423	11	(	(	PUNCT
fsr-3132	423	12	1983	1983	NUM
fsr-3132	423	13	)	)	PUNCT
fsr-3132	423	14	.	.	PUNCT
fsr-3132	424	1	risk	risk	NOUN
fsr-3132	424	2	aversion	aversion	NOUN
fsr-3132	424	3	revisited	revisit	VERB
fsr-3132	424	4	.	.	PUNCT
fsr-3132	425	1	journal	journal	PROPN
fsr-3132	425	2	of	of	ADP
fsr-3132	425	3	finance	finance	NOUN
fsr-3132	425	4	,	,	PUNCT
fsr-3132	425	5	38	38	NUM
fsr-3132	425	6	,	,	PUNCT
fsr-3132	425	7	1201–1216	1201–1216	NUM
fsr-3132	425	8	.	.	PUNCT
fsr-3132	426	1	morningstar	morningstar	PROPN
fsr-3132	426	2	fund	fund	PROPN
fsr-3132	426	3	research	research	NOUN
fsr-3132	426	4	.	.	PUNCT
fsr-3132	427	1	(	(	PUNCT
fsr-3132	427	2	2009	2009	NUM
fsr-3132	427	3	)	)	PUNCT
fsr-3132	427	4	.	.	PUNCT
fsr-3132	428	1	target	target	NOUN
fsr-3132	428	2	-	-	PUNCT
fsr-3132	428	3	date	date	NOUN
fsr-3132	428	4	series	series	NOUN
fsr-3132	428	5	research	research	NOUN
fsr-3132	428	6	paper	paper	NOUN
fsr-3132	428	7	:	:	PUNCT
fsr-3132	428	8	2009	2009	NUM
fsr-3132	428	9	industry	industry	NOUN
fsr-3132	428	10	survey	survey	NOUN
fsr-3132	428	11	.	.	PUNCT
fsr-3132	429	1	pålsson	pålsson	NOUN
fsr-3132	429	2	,	,	PUNCT
fsr-3132	429	3	a.	a.	NOUN
fsr-3132	429	4	(	(	PUNCT
fsr-3132	429	5	1996	1996	NUM
fsr-3132	429	6	)	)	PUNCT
fsr-3132	429	7	.	.	PUNCT
fsr-3132	430	1	does	do	AUX
fsr-3132	430	2	the	the	DET
fsr-3132	430	3	degree	degree	NOUN
fsr-3132	430	4	of	of	ADP
fsr-3132	430	5	relative	relative	ADJ
fsr-3132	430	6	risk	risk	NOUN
fsr-3132	430	7	aversion	aversion	NOUN
fsr-3132	430	8	vary	vary	VERB
fsr-3132	430	9	with	with	ADP
fsr-3132	430	10	household	household	NOUN
fsr-3132	430	11	characteristics	characteristic	NOUN
fsr-3132	430	12	?	?	PUNCT
fsr-3132	431	1	journal	journal	NOUN
fsr-3132	431	2	of	of	ADP
fsr-3132	431	3	economic	economic	ADJ
fsr-3132	431	4	psychology	psychology	NOUN
fsr-3132	431	5	,	,	PUNCT
fsr-3132	431	6	17	17	NUM
fsr-3132	431	7	,	,	PUNCT
fsr-3132	431	8	771–787	771–787	NUM
fsr-3132	431	9	.	.	PUNCT
fsr-3132	432	1	pang	pang	NOUN
fsr-3132	432	2	,	,	PUNCT
fsr-3132	432	3	g.	g.	PROPN
fsr-3132	432	4	,	,	PUNCT
fsr-3132	432	5	&	&	CCONJ
fsr-3132	432	6	warshawsky	warshawsky	NOUN
fsr-3132	432	7	,	,	PUNCT
fsr-3132	432	8	m.	m.	NOUN
fsr-3132	432	9	(	(	PUNCT
fsr-3132	432	10	2011	2011	NUM
fsr-3132	432	11	)	)	PUNCT
fsr-3132	432	12	.	.	PUNCT
fsr-3132	433	1	target	target	NOUN
fsr-3132	433	2	-	-	PUNCT
fsr-3132	433	3	date	date	NOUN
fsr-3132	433	4	and	and	CCONJ
fsr-3132	433	5	balanced	balanced	ADJ
fsr-3132	433	6	funds	fund	NOUN
fsr-3132	433	7	:	:	PUNCT
fsr-3132	433	8	latest	late	ADJ
fsr-3132	433	9	market	market	NOUN
fsr-3132	433	10	offerings	offering	NOUN
fsr-3132	433	11	and	and	CCONJ
fsr-3132	433	12	risk	risk	NOUN
fsr-3132	433	13	-	-	PUNCT
fsr-3132	433	14	return	return	NOUN
fsr-3132	433	15	analysis	analysis	NOUN
fsr-3132	433	16	.	.	PUNCT
fsr-3132	434	1	financial	financial	ADJ
fsr-3132	434	2	services	service	NOUN
fsr-3132	434	3	review	review	PROPN
fsr-3132	434	4	,	,	PUNCT
fsr-3132	434	5	20	20	NUM
fsr-3132	434	6	,	,	PUNCT
fsr-3132	434	7	21–34	21–34	NUM
fsr-3132	434	8	.	.	PUNCT
fsr-3132	435	1	pfau	pfau	NOUN
fsr-3132	435	2	,	,	PUNCT
fsr-3132	435	3	w.	w.	PROPN
fsr-3132	435	4	d.	d.	PROPN
fsr-3132	435	5	(	(	PUNCT
fsr-3132	435	6	2010	2010	NUM
fsr-3132	435	7	)	)	PUNCT
fsr-3132	435	8	.	.	PUNCT
fsr-3132	436	1	lifecycle	lifecycle	NOUN
fsr-3132	436	2	funds	fund	NOUN
fsr-3132	436	3	and	and	CCONJ
fsr-3132	436	4	wealth	wealth	NOUN
fsr-3132	436	5	accumulation	accumulation	NOUN
fsr-3132	436	6	for	for	ADP
fsr-3132	436	7	retirement	retirement	NOUN
fsr-3132	436	8	:	:	PUNCT
fsr-3132	436	9	evidence	evidence	NOUN
fsr-3132	436	10	for	for	ADP
fsr-3132	436	11	a	a	DET
fsr-3132	436	12	more	more	ADV
fsr-3132	436	13	conservative	conservative	ADJ
fsr-3132	436	14	asset	asset	NOUN
fsr-3132	436	15	allocation	allocation	NOUN
fsr-3132	436	16	as	as	ADP
fsr-3132	436	17	retirement	retirement	NOUN
fsr-3132	436	18	approaches	approach	NOUN
fsr-3132	436	19	.	.	PUNCT
fsr-3132	437	1	financial	financial	ADJ
fsr-3132	437	2	services	service	NOUN
fsr-3132	437	3	review	review	PROPN
fsr-3132	437	4	,	,	PUNCT
fsr-3132	437	5	19	19	NUM
fsr-3132	437	6	,	,	PUNCT
fsr-3132	437	7	59–74	59–74	NUM
fsr-3132	437	8	.	.	PUNCT
fsr-3132	438	1	pfau	pfau	NOUN
fsr-3132	438	2	,	,	PUNCT
fsr-3132	438	3	w.	w.	PROPN
fsr-3132	438	4	d.	d.	PROPN
fsr-3132	438	5	(	(	PUNCT
fsr-3132	438	6	2011	2011	NUM
fsr-3132	438	7	)	)	PUNCT
fsr-3132	438	8	.	.	PUNCT
fsr-3132	439	1	the	the	DET
fsr-3132	439	2	portfolio	portfolio	NOUN
fsr-3132	439	3	size	size	NOUN
fsr-3132	439	4	effect	effect	NOUN
fsr-3132	439	5	and	and	CCONJ
fsr-3132	439	6	lifecycle	lifecycle	NOUN
fsr-3132	439	7	asset	asset	NOUN
fsr-3132	439	8	allocation	allocation	NOUN
fsr-3132	439	9	funds	fund	NOUN
fsr-3132	439	10	:	:	PUNCT
fsr-3132	439	11	a	a	DET
fsr-3132	439	12	different	different	ADJ
fsr-3132	439	13	perspective	perspective	NOUN
fsr-3132	439	14	.	.	PUNCT
fsr-3132	440	1	journal	journal	PROPN
fsr-3132	440	2	of	of	ADP
fsr-3132	440	3	portfolio	portfolio	NOUN
fsr-3132	440	4	management	management	NOUN
fsr-3132	440	5	,	,	PUNCT
fsr-3132	440	6	37	37	NUM
fsr-3132	440	7	,	,	PUNCT
fsr-3132	440	8	44–53	44–53	NUM
fsr-3132	440	9	.	.	PUNCT
fsr-3132	441	1	poterba	poterba	PROPN
fsr-3132	441	2	,	,	PUNCT
fsr-3132	441	3	j.	j.	PROPN
fsr-3132	441	4	m.	m.	PROPN
fsr-3132	441	5	,	,	PUNCT
fsr-3132	441	6	&	&	CCONJ
fsr-3132	441	7	samwick	samwick	PROPN
fsr-3132	441	8	,	,	PUNCT
fsr-3132	441	9	a.	a.	NOUN
fsr-3132	441	10	a.	a.	NOUN
fsr-3132	441	11	(	(	PUNCT
fsr-3132	441	12	1997	1997	NUM
fsr-3132	441	13	)	)	PUNCT
fsr-3132	441	14	.	.	PUNCT
fsr-3132	442	1	household	household	NOUN
fsr-3132	442	2	portfolio	portfolio	NOUN
fsr-3132	442	3	allocation	allocation	NOUN
fsr-3132	442	4	over	over	ADP
fsr-3132	442	5	the	the	DET
fsr-3132	442	6	life	life	NOUN
fsr-3132	442	7	cycle	cycle	NOUN
fsr-3132	442	8	.	.	PUNCT
fsr-3132	443	1	working	working	NOUN
fsr-3132	443	2	paper	paper	NOUN
fsr-3132	443	3	,	,	PUNCT
fsr-3132	443	4	national	national	ADJ
fsr-3132	443	5	bureau	bureau	PROPN
fsr-3132	443	6	of	of	ADP
fsr-3132	443	7	economic	economic	ADJ
fsr-3132	443	8	research	research	NOUN
fsr-3132	443	9	.	.	PUNCT
fsr-3132	444	1	samuelson	samuelson	PROPN
fsr-3132	444	2	,	,	PUNCT
fsr-3132	444	3	p.	p.	NOUN
fsr-3132	444	4	a.	a.	NOUN
fsr-3132	444	5	(	(	PUNCT
fsr-3132	444	6	1989	1989	NUM
fsr-3132	444	7	)	)	PUNCT
fsr-3132	444	8	.	.	PUNCT
fsr-3132	445	1	a	a	DET
fsr-3132	445	2	case	case	NOUN
fsr-3132	445	3	at	at	ADP
fsr-3132	445	4	last	last	ADJ
fsr-3132	445	5	for	for	ADP
fsr-3132	445	6	age	age	NOUN
fsr-3132	445	7	-	-	PUNCT
fsr-3132	445	8	phased	phase	VERB
fsr-3132	445	9	reduction	reduction	NOUN
fsr-3132	445	10	in	in	ADP
fsr-3132	445	11	equity	equity	NOUN
fsr-3132	445	12	.	.	PUNCT
fsr-3132	446	1	proceedings	proceeding	NOUN
fsr-3132	446	2	of	of	ADP
fsr-3132	446	3	the	the	DET
fsr-3132	446	4	national	national	PROPN
fsr-3132	446	5	academy	academy	PROPN
fsr-3132	446	6	of	of	ADP
fsr-3132	446	7	sciences	sciences	PROPN
fsr-3132	446	8	of	of	ADP
fsr-3132	446	9	the	the	DET
fsr-3132	446	10	united	united	PROPN
fsr-3132	446	11	states	states	PROPN
fsr-3132	446	12	of	of	ADP
fsr-3132	446	13	america	america	PROPN
fsr-3132	446	14	,	,	PUNCT
fsr-3132	446	15	86	86	NUM
fsr-3132	446	16	,	,	PUNCT
fsr-3132	446	17	9048–9051	9048–9051	NUM
fsr-3132	446	18	.	.	PUNCT
fsr-3132	447	1	schleef	schleef	PROPN
fsr-3132	447	2	,	,	PUNCT
fsr-3132	447	3	h.	h.	PROPN
fsr-3132	447	4	j.	j.	PROPN
fsr-3132	447	5	,	,	PUNCT
fsr-3132	447	6	&	&	CCONJ
fsr-3132	447	7	eisinger	eisinger	PROPN
fsr-3132	447	8	,	,	PUNCT
fsr-3132	447	9	r.	r.	PROPN
fsr-3132	447	10	m.	m.	PROPN
fsr-3132	447	11	(	(	PUNCT
fsr-3132	447	12	2007	2007	NUM
fsr-3132	447	13	)	)	PUNCT
fsr-3132	447	14	.	.	PUNCT
fsr-3132	448	1	hitting	hit	VERB
fsr-3132	448	2	or	or	CCONJ
fsr-3132	448	3	missing	miss	VERB
fsr-3132	448	4	the	the	DET
fsr-3132	448	5	retirement	retirement	NOUN
fsr-3132	448	6	target	target	NOUN
fsr-3132	448	7	:	:	PUNCT
fsr-3132	448	8	comparing	compare	VERB
fsr-3132	448	9	contribution	contribution	NOUN
fsr-3132	448	10	and	and	CCONJ
fsr-3132	448	11	asset	asset	NOUN
fsr-3132	448	12	allocation	allocation	NOUN
fsr-3132	448	13	schemes	scheme	NOUN
fsr-3132	448	14	of	of	ADP
fsr-3132	448	15	simulated	simulated	ADJ
fsr-3132	448	16	portfolios	portfolio	NOUN
fsr-3132	448	17	.	.	PUNCT
fsr-3132	449	1	financial	financial	ADJ
fsr-3132	449	2	services	service	NOUN
fsr-3132	449	3	review	review	PROPN
fsr-3132	449	4	,	,	PUNCT
fsr-3132	449	5	16	16	NUM
fsr-3132	449	6	,	,	PUNCT
fsr-3132	449	7	229–243	229–243	NUM
fsr-3132	449	8	.	.	PUNCT
fsr-3132	450	1	siegel	siegel	PROPN
fsr-3132	450	2	,	,	PUNCT
fsr-3132	450	3	f.	f.	PROPN
fsr-3132	450	4	w.	w.	PROPN
fsr-3132	450	5	,	,	PUNCT
fsr-3132	450	6	&	&	CCONJ
fsr-3132	450	7	hoban	hoban	PROPN
fsr-3132	450	8	,	,	PUNCT
fsr-3132	450	9	j.	j.	PROPN
fsr-3132	450	10	p.	p.	PROPN
fsr-3132	450	11	jr	jr	PROPN
fsr-3132	450	12	.	.	PUNCT
fsr-3132	450	13	(	(	PUNCT
fsr-3132	450	14	1982	1982	NUM
fsr-3132	450	15	)	)	PUNCT
fsr-3132	450	16	.	.	PUNCT
fsr-3132	451	1	relative	relative	ADJ
fsr-3132	451	2	risk	risk	NOUN
fsr-3132	451	3	aversion	aversion	NOUN
fsr-3132	451	4	revisited	revisit	VERB
fsr-3132	451	5	.	.	PUNCT
fsr-3132	452	1	review	review	NOUN
fsr-3132	452	2	of	of	ADP
fsr-3132	452	3	economics	economic	NOUN
fsr-3132	452	4	and	and	CCONJ
fsr-3132	452	5	statistics	statistic	NOUN
fsr-3132	452	6	,	,	PUNCT
fsr-3132	452	7	64	64	NUM
fsr-3132	452	8	,	,	PUNCT
fsr-3132	452	9	481–487	481–487	NUM
fsr-3132	452	10	.	.	PUNCT
fsr-3132	453	1	spitzer	spitzer	PROPN
fsr-3132	453	2	,	,	PUNCT
fsr-3132	453	3	j.	j.	PROPN
fsr-3132	453	4	j.	j.	PROPN
fsr-3132	453	5	,	,	PUNCT
fsr-3132	453	6	&	&	CCONJ
fsr-3132	453	7	singh	singh	PROPN
fsr-3132	453	8	s.	s.	PROPN
fsr-3132	453	9	(	(	PUNCT
fsr-3132	453	10	2008	2008	NUM
fsr-3132	453	11	)	)	PUNCT
fsr-3132	453	12	.	.	PUNCT
fsr-3132	454	1	shortfall	shortfall	NOUN
fsr-3132	454	2	risk	risk	NOUN
fsr-3132	454	3	of	of	ADP
fsr-3132	454	4	target	target	NOUN
fsr-3132	454	5	-	-	PUNCT
fsr-3132	454	6	date	date	NOUN
fsr-3132	454	7	funds	fund	NOUN
fsr-3132	454	8	during	during	ADP
fsr-3132	454	9	retirement	retirement	NOUN
fsr-3132	454	10	.	.	PUNCT
fsr-3132	455	1	financial	financial	ADJ
fsr-3132	455	2	services	services	PROPN
fsr-3132	455	3	review	review	PROPN
fsr-3132	455	4	,	,	PUNCT
fsr-3132	455	5	17	17	NUM
fsr-3132	455	6	,	,	PUNCT
fsr-3132	455	7	143–153	143–153	NUM
fsr-3132	455	8	.	.	PUNCT
fsr-3132	456	1	spitzer	spitzer	PROPN
fsr-3132	456	2	,	,	PUNCT
fsr-3132	456	3	j.	j.	PROPN
fsr-3132	456	4	j.	j.	PROPN
fsr-3132	456	5	,	,	PUNCT
fsr-3132	456	6	&	&	CCONJ
fsr-3132	456	7	singh	singh	PROPN
fsr-3132	456	8	s.	s.	PROPN
fsr-3132	456	9	(	(	PUNCT
fsr-3132	456	10	2011	2011	NUM
fsr-3132	456	11	)	)	PUNCT
fsr-3132	456	12	.	.	PUNCT
fsr-3132	457	1	assessing	assess	VERB
fsr-3132	457	2	the	the	DET
fsr-3132	457	3	effectiveness	effectiveness	NOUN
fsr-3132	457	4	of	of	ADP
fsr-3132	457	5	lifecycle	lifecycle	NOUN
fsr-3132	457	6	(	(	PUNCT
fsr-3132	457	7	target	target	NOUN
fsr-3132	457	8	-	-	PUNCT
fsr-3132	457	9	date	date	NOUN
fsr-3132	457	10	)	)	PUNCT
fsr-3132	457	11	funds	fund	NOUN
fsr-3132	457	12	during	during	ADP
fsr-3132	457	13	the	the	DET
fsr-3132	457	14	accumulation	accumulation	NOUN
fsr-3132	457	15	phase	phase	NOUN
fsr-3132	457	16	.	.	PUNCT
fsr-3132	458	1	financial	financial	ADJ
fsr-3132	458	2	services	service	NOUN
fsr-3132	458	3	review	review	PROPN
fsr-3132	458	4	,	,	PUNCT
fsr-3132	458	5	20	20	NUM
fsr-3132	458	6	,	,	PUNCT
fsr-3132	458	7	327–341	327–341	NUM
fsr-3132	458	8	.	.	PUNCT
fsr-3132	459	1	thaler	thaler	PROPN
fsr-3132	459	2	,	,	PUNCT
fsr-3132	459	3	r.	r.	PROPN
fsr-3132	459	4	h.	h.	PROPN
fsr-3132	459	5	,	,	PUNCT
fsr-3132	459	6	tversky	tversky	PROPN
fsr-3132	459	7	,	,	PUNCT
fsr-3132	459	8	a.	a.	NOUN
fsr-3132	459	9	,	,	PUNCT
fsr-3132	459	10	kahneman	kahneman	PROPN
fsr-3132	459	11	,	,	PUNCT
fsr-3132	459	12	d.	d.	PROPN
fsr-3132	459	13	,	,	PUNCT
fsr-3132	459	14	&	&	CCONJ
fsr-3132	459	15	schwartz	schwartz	PROPN
fsr-3132	459	16	,	,	PUNCT
fsr-3132	459	17	a.	a.	NOUN
fsr-3132	459	18	(	(	PUNCT
fsr-3132	459	19	1997	1997	NUM
fsr-3132	459	20	)	)	PUNCT
fsr-3132	459	21	.	.	PUNCT
fsr-3132	460	1	the	the	DET
fsr-3132	460	2	effect	effect	NOUN
fsr-3132	460	3	of	of	ADP
fsr-3132	460	4	myopia	myopia	NOUN
fsr-3132	460	5	and	and	CCONJ
fsr-3132	460	6	loss	loss	NOUN
fsr-3132	460	7	aversion	aversion	NOUN
fsr-3132	460	8	on	on	ADP
fsr-3132	460	9	risk	risk	NOUN
fsr-3132	460	10	taking	taking	NOUN
fsr-3132	460	11	:	:	PUNCT
fsr-3132	460	12	an	an	DET
fsr-3132	460	13	experimental	experimental	ADJ
fsr-3132	460	14	test	test	NOUN
fsr-3132	460	15	.	.	PUNCT
fsr-3132	461	1	quarterly	quarterly	ADJ
fsr-3132	461	2	journal	journal	NOUN
fsr-3132	461	3	of	of	ADP
fsr-3132	461	4	economics	economic	NOUN
fsr-3132	461	5	,	,	PUNCT
fsr-3132	461	6	112	112	NUM
fsr-3132	461	7	,	,	PUNCT
fsr-3132	461	8	647–661	647–661	NUM
fsr-3132	461	9	.	.	PUNCT
fsr-3132	462	1	tversky	tversky	PROPN
fsr-3132	462	2	,	,	PUNCT
fsr-3132	462	3	a.	a.	PROPN
fsr-3132	462	4	,	,	PUNCT
fsr-3132	462	5	&	&	CCONJ
fsr-3132	462	6	kahneman	kahneman	PROPN
fsr-3132	462	7	,	,	PUNCT
fsr-3132	462	8	d.	d.	PROPN
fsr-3132	462	9	(	(	PUNCT
fsr-3132	462	10	1992	1992	NUM
fsr-3132	462	11	)	)	PUNCT
fsr-3132	462	12	.	.	PUNCT
fsr-3132	463	1	advances	advance	NOUN
fsr-3132	463	2	in	in	ADP
fsr-3132	463	3	prospect	prospect	NOUN
fsr-3132	463	4	theory	theory	NOUN
fsr-3132	463	5	:	:	PUNCT
fsr-3132	463	6	cumulative	cumulative	ADJ
fsr-3132	463	7	representation	representation	NOUN
fsr-3132	463	8	of	of	ADP
fsr-3132	463	9	uncertainty	uncertainty	NOUN
fsr-3132	463	10	.	.	PUNCT
fsr-3132	464	1	journal	journal	NOUN
fsr-3132	464	2	of	of	ADP
fsr-3132	464	3	risk	risk	NOUN
fsr-3132	464	4	and	and	CCONJ
fsr-3132	464	5	uncertainty	uncertainty	NOUN
fsr-3132	464	6	,	,	PUNCT
fsr-3132	464	7	5	5	NUM
fsr-3132	464	8	,	,	PUNCT
fsr-3132	464	9	297–323	297–323	NUM
fsr-3132	464	10	.	.	PUNCT
fsr-3132	465	1	188	188	NUM
fsr-3132	465	2	r.p	r.p	PROPN
fsr-3132	465	3	.	.	PUNCT
fsr-3132	465	4	chang	chang	PROPN
fsr-3132	465	5	et	et	PROPN
fsr-3132	465	6	al	al	PROPN
fsr-3132	465	7	.	.	PUNCT
fsr-3132	465	8	/	/	SYM
fsr-3132	465	9	financial	financial	ADJ
fsr-3132	465	10	services	service	NOUN
fsr-3132	465	11	review	review	VERB
fsr-3132	465	12	23	23	NUM
fsr-3132	465	13	(	(	PUNCT
fsr-3132	465	14	2014	2014	NUM
fsr-3132	465	15	)	)	PUNCT
fsr-3132	465	16	169–188	169–188	NUM