Artificial intelligence is one of the buzzwords when innovations are discussed. The financial industry is no exception. But what's the fuss about algorithms and data?

We examine instruments for the consumption of saved capital at retirement age and look at private annuities, annuity (pools), bond plans and reverse mortgages.

Instead of limiting itself to existential risks, the state is increasingly insuring citizens against losses in their standard of living. We show alternatives that strengthen individual responsibility.

British government bonds recently lost more than 20 percent of their value within days. Where might further shoals lurk in the financial system? This is an attempt to draw up a map of financial risks.

Tax revenues have been rising faster than GDP since 2007. The equivalent value often remains unclear due to a lack of balance sheets. Where there is transparency, it is clear that we are over-indebted.

We use simulations to investigate a possible, concrete design of the stock pension in Germany. The solution smoothes volatile investment returns over time.