Helping Clients Use the What-if? Screen:
When discussing Silver Online’s Monte Carlo simulation graphs and reports with clients, you might also mention how they could use the What-If? screen in the Client Access Portal to test out and explore different assumptions and change potential spending levels, retirement ages, returns, inflation and longevity. Before you send them their personal link to the Client Access Portal, you may want to offer some insight and cautions to help them from becoming too optimistic or too concerned about results they’re seeing.
Multiple Conservative Assumptions Have Multiplicative Impact on Monte Carlo Outcome
As clients use the Client Access Portal What-If? screen, it may seem reasonable to make several assumptions at the same time that are all more conservative than the historical averages you have explained to them, and may be using as planning input starting points. When doing this, they may be dismayed to see Monte Carlo results drop dramatically, and it may put them into a tailspin in terms of their ability to successfully retire in the timeframe they had hoped for or had considered quite feasible.
Read the entire article here: Helping Clients Use the What-if? Screen
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