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A Comparative Analysis of Retirement Portfolio Success Rates: Simulation versus Overlapping Periods
Beginning of article
Abstract
One of the risks faced by retirees is the possibility of outliving money saved for the retirement years. Knowing the sustainability of withdrawal rates from a portfolio, or at least the risks associated with them, would greatly help retirees deal with this problem. Two procedures proposed to analyze the problem are Monte Carlo simulation and the overlapping periods methodology. This study compares and contrasts the implications of these two procedures for sustainable withdrawal rates from a retirement portfolio. Under some conditions, the procedures produce similar results, but in others the differences are quite large. (C) 2003 Academy of Financial Services. All rights …
