Wealth Planning Under Uncertainty

McCabe, Bernard J.; Boinske, Charles P.
March 2000
Journal of Financial Planning;Mar2000, Vol. 13 Issue 3, p84
Academic Journal
This article discusses the issue of spending planning for retirees in the context of uncertainty. This article also illustrates how simulation models help financial advisors develop a realistic spending and savings plan. The Monte Carlo simulation approach offers the financial planners an alternative to the linear approach most often used in the financial planning industry. There is a need for wealth managers to further investigation on the effectiveness of this approach in financial planning. Most clients are interested to know that their situations are subjected to a more careful analysis.


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