How do you feel about financial risk? Well, more importantly, how much are you willing to lose? Have you heard of the Monte Carlo Simulation? To put it simply, this model takes your variables and predicts the outcomes. For example, in the financial world, it would tell us that you are 85% likely to NOT outlive your money. We’ve learned already that we don’t want to outlive our money, so that sounds fairly good. However, that still leaves 15% of people who WILL outlive their money! We do not want that to be you! As you continue with budgeting, planning, and fine-tuning your finances in preparation for retirement, you have to think about how much of your money do you want guaranteed. Give me a call to chat about this more in a free consultation at 719-210-4242.
