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Improving Monte Carlo In Retirement Planning: Best Practices For Better Conversations

About This Webinar

Monte Carlo analysis has become the dominant methodology for advisors to analyze retirement income planning strategies. But the way the results of Monte Carlo analysis are framed for clients can invoke different emotional responses and can affect portfolio withdrawal rate decisions. With this in mind, advisors can take advantage of a range of options to improve their use of Monte Carlo analysis, including framing the results as a “Probability of Adjustment” rather than “Probability of Success”, comparing results using historical scenarios, leveraging regime-based models, and using risk-based guardrails. Using these methods, advisors can potentially provide clients with greater peace of mind regarding their retirement income choices and better help them achieve their specific income and legacy goals.

Join us at the July Kitces Monthly Webinar where Kitces Lead Researcher, Derek Tharp, Ph.D., CFP, CLU, will discuss best practices when using Monte Carlo Analysis for retirement planning.

In this webinar, advisors will learn:

- What makes Monte Carlo more reliable than straight-line analysis when portfolio withdrawals are being taken

- Why framing Monte Carlo results as a “Probability of Adjustment” rather than “Probability of Success” can leave clients more confident during a market downturn

- How Monte Carlo simulations can be improved by using a regime-based approach and by comparing the results to historical returns

- How risk-based guardrails combine the advantages of standard guardrails and Monte Carlo analysis and can be used to account for client-specific cash flows and risk preferences

Continuing Education (CE): 1 Credit
For those who attend the live session for at least 50 minutes, we will report your attendance directly to the CFP Board, IWI and American College within 72 hours as long as you enter your certification numbers during registration. You will also receive a completion certificate that you can use to report CE to other organizations. We don't report for state level insurance licensing although some states may accept completion certificates if you self-report.

Non-Members: Those who are NOT Kitces.com Members will have access to the recording for 30 days. Though continuing education is available for the live session, the recording is not CE eligible. 

Kitces.com Basic & Premier Members: The video presentation and a recording of the live Q&A will be available on the Webinars page in the Members Section. Note: If you were not able to attend the live session for the full 50 minutes, successful completion of a quiz will be required in order to receive CE for viewing the RECORDED VERSION posted to the Members Section.

Who can view: People who attended or registered for the webinar only
Webinar Price: $5.00
Featured Presenters
Webinar hosting presenter
Lead Researcher, Kitces.com
Derek Tharp, lead Researcher at Kitces.com and an assistant professor of finance at the University of Southern Maine. In addition to his work on this site, Derek assists clients through his RIA Conscious Capital. Derek is a Certified Financial Planner and earned his Ph.D. in Personal Financial Planning at Kansas State University.
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