What does a casino and retirement have to do with one another? No, it’s not taking a nice trip to Vegas and spending your children’s inheritance on gambling. Today’s article explains what Monte Carlo simulations are and how you can use it to see if you’ve saved enough for retirement or whether your money will make it through your entire retirement. Here’s what they had to say, “named after the famed casino in Monaco, Monte Carlo simulations attempt to incorporate the variability of real life into financial projections. The adviser plugs in such information as how much you saved, how much you’re saving on an ongoing basis (if you’re still working), how you invest that money, when you plan to retire, how much you plan to withdraw from your savings once you retire and how long you estimate you’ll need your savings to last.” To read more, CLICK HERE.
