Huang, Huaxiong2018-11-212018-11-212018-04-202018-11-21http://hdl.handle.net/10315/35491In this thesis we develop and analyze a technique for finding the optimal investment strategy for a deferred income annuity (DIA). We first present some initial background needed to understand what a DIA is. We then lay out a mathematical framework which will allow us to formalize the optimization process. The method and implementation of the optimization is explained, and the results are then analyzed. We then add an extra layer of complication to our model by allowing our optimal portfolio to contain more types of assets. The results of this new model are analyzed, and finally we mention possible extensions to this work.enAuthor owns copyright, except where explicitly noted. Please contact the author directly with licensing requests.FinanceElectronic Thesis or Dissertation2018-11-21AnnuityAnnuitiesDeferredFinancialMathematicsDIASPIAOptimalInvestmentStrategyMertonPortfolioHamiltonJacobiBellmanEquation