Numbers are rather useful. This is unfortunate, because they're also rather confusing. Our brains have a hard time making sense of lists of numbers, so we employ an imaginary friend to help us — the ...

How might you go about using Monte Carlo simulations for your retirement plan? Well, first you need to understand what Monte Carlo is and what it isn’t. According to Dana Anspach, CFP, RMA, the ...

As a financial advisor, I’ve had the pleasure of helping many clients comfortably reach and enjoy their retirement years. During my career, a few consistent themes have emerged. Clients generally want ...

Bob’s financial advisor just ran a “Monte Carlo analysis” for him.What’s a “Monte Carlo analysis”?It’s a tool used to test how a person’s retirement savings and plan would hold up given a variety of ...

Important events sometimes occur with too little notice. Occasionally, even a monumental development can escape adequate attention. An example of this occurred on Jan. 9. That day saw a historic ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...