将生命周期模型与均值-方差优化相结合的重要性（英文版）

For nearly three-quarters of a century, there has been a large separation between lifecycle finance models stemming from numerous Nobel laureates and the single-period mean-variance optimization-oriented models starting with Markowitz. Recent advances allow for a new class of models that combine both lifecycle models and mean-variance models. This new class of models uses lifecycle models to answer key financial planning questions and then mean-variance optimization models to answer investmen