“Retirement planning depends heavily on probabilistic forecasts (usually via Monte Carlo simulations), but few have stopped to ask whether these forecasts are at all accurate. In this webinar we’ll examine how different forecasting models perform in the real world. We’ll see that the usual approach to Monte Carlo simulation is a poor performer compared to other available methods and that the errors inherent in forecasting call for ongoing plan monitoring and adjustments.”
Justin Fitzpatrick is President and Co-Founder of Income Lab, retirement income planning software used by thousands of financial advisors. He developed the guardrails-based approach to retirement income distribution after a decade in financial services at Jackson and seven years in academia at MIT, Harvard, and UCLA. His research on adjustment-based planning has been published on Kitces.com, ThinkAdvisor, AdvisorPerspectives, and FinancialPlanning Magazine.
