The Grow Your Wealthy Mindset Podcast

Episode 121: Testing Your Retirement Portfolio with Monte Carlo Simulations

Elisa Chiang Season 3 Episode 121

No one wants their retirement portfolio to run out of money before they die. Many retirement calculators use static assumptions, like a constant growth rate or inflation rate. The stock market may have average returns of around 10% per year but in any given year, it’s rarely a 10% return. Some years it can be up 18% and other years down 10% or anywhere in between. 

If you really want to put your retirement portfolio (or your future retirement portfolio) to the test, there are online tools to help you do that. These tools use Monte Carlo simulations, which is a mathematical technique that predicts possible outcomes of an uncertain event. 

 

In this episode, I specifically discuss:

https://thepoorswiss.com/fire-calculator/

https://Firecalc.com

https://ficalc.app/

https://www.portfoliovisualizer.com/monte-carlo-simulation

Two additional tools can be found at:

https://cfiresim.com/

https://engaging-data.com/will-money-last-retire-early/

 

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Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

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