fp101_r3_how_retirement_planning_fits_within_your_plan

fp101_r3_how_retirement_planning_fits_within_your_plan -...

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Axia College Material How Retirement Planning Fits within your Financial Planning You want to know how long your retirement money will last. Who doesn't? But first you must tackle an even tougher question: how long will you live? Ah, if we only knew. But you can have some fun coming up with an educated guesstimate by going to the Paul Beeson Physician Faculty Scholars in Aging Research Program Here's how: type in Beeson-- beeson.org/livingto100 – if only we could --/quiz.htm. The life expectancy calculator asks 23 questions ranging from do you smoke to eating habits to a little family history. According to the calculator, I can expect to live a fraction more than the male average of 84 years. Obviously you really can't predict how long you'll live, just as you can't know how well your portfolio would do over time. But a new generation of calculators will compute the odds that your mix of stocks, bonds and cash will support your desired standard of living during retirement. These Monte Carlo simulations work out the probability by running thousands upon thousands of
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This note was uploaded on 01/23/2011 for the course FP 101 taught by Professor Unknown during the Spring '10 term at University of Phoenix.

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