Why a Monte Carlo Analysis Is Not a Financial Plan

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 25 January 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our topic on this episode of the Ready for Retirement podcast is about why a Monte Carlo analysis is not a financial plan Questions answered: What is a Monte Carlo analysis and how does it impact our retirement plan? What strategies can you implement to ensure you create your ideal retirement? What is the best strategy for your individual situation? Are you ready to start focusing on the things that truly matter when it comes to your financial future? We’re on YouTube! Check us ...

Transcript

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0:00.0	Discover the tips and strategies that will help you achieve your retirement goals.
0:09.3	I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.
0:14.6	It all starts right here on Ready for Retirement. for retirement.
0:29.1	Hi, everyone, and welcome back to another episode of Ready for Retirement.
0:30.2	I'm your host, James Cannell.
0:36.3	On today's episode, we are going to talk about Monte Carlo analysis and specifically why a Monte Carlo analysis is not a financial plan. If you don't know what a Monte Carlo analysis and specifically why a Monte Carlo analysis is not a financial plan.
0:40.3	If you don't know what a Monte Carlo analysis is, I will walk through it, what it is, how it works,
0:44.4	what it's used for. But more importantly, I want to reframe how it works and what its importance is
0:50.2	in a financial plan. Before we dive in today, though, want to highlight a recent review on Apple Podcasts.
0:56.6	I always appreciate when you leave reviews and want to highlight this one from Doug Bob.
1:01.0	Doug Bob says James does a great job clearly addressing a specific topic in each podcast.
1:05.5	I've mostly been listening through YouTube.
1:07.4	He isn't sensationalist, and he has a nice balance of encouraging, reasonable investing in letting
1:12.2	people know when they have enough and can enjoy the fruits of their labors.
1:15.5	Very refreshing.
1:16.9	Thank you, Doug Bob, for that review.
1:18.9	If you have not left a review, it would really appreciate it if you would do so.
1:21.7	You can do that on Apple Podcasts and you can now also do that on Spotify.
1:26.4	So if you're listening on Spotify, you've listened to a few episodes, you're enjoying the content.
1:29.6	Please just give this a quick five-star review.
1:32.0	It helps more people find the show and really love to be able to impact as many people as possible.
1:36.6	And as this review said, this is also on YouTube.
	...

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