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Old 01-22-2013, 07:00 PM   #21
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... the current retirement income dogma ...has you spending you nest egg at some rate derived from two unknowable numbers; the performance of the stock market and your life expectancy....
That's known as the probability-based method of retiree income. There's another method called safety-based. Wade Pfau compares/contrasts them in this table:
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Old 01-22-2013, 08:00 PM   #22
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That's known as the probability-based method of retiree income. There's another method called safety-based. Wade Pfau compares/contrasts them in this table:
Retirement Researcher Blog
Probability works if you want to predict something for a population. I know exactly what the pattern of electrons beyond 2 slits will be, but I can't tell you where a particular electrom will end up. This is why I look skeptically at the current dogma of probability based methods when planning my own specific retirement. As I said probability works for insurance companies and governments who deal with sample sizes greater than one.
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