Uncertain Retirement Planning

              

Retirement planners use dubious assumed models. They take into account investments, forms of diversification, along with outlay plans, and a number of probabilities. One may be Monte Carlo simulation, a well-known model used by investment advisers for this purpose.

                     

But such investment planning fails to work for many reasons.

                     

A major financial market meltdown is one. And other unforeseen events happen; illness, a job loss, business failure, unexpected educational expenses. The result of a lifetime of retirement planning is often failure.

                     

The solution? Be realistic. Be prepared to work at least part-time past what you had originally thought would have been retirement age. (See the Earl J Weinreb NewsHole® comments and @BusinessNewshole at twitter.)