RISE (Retirement Income Simulation Expert)
Retirement Income Simulation Expert (RISE) illustrates how guaranteed income products affect the likelihood of meeting retirement goals. This module can be used to facilitate a discussion of guaranteed income products with clients who are just retiring or who are already retired. Simple retirement goals are input and Monte Carlo Simulation is used to illustrate the likelihood of meeting those goals. The planner can easily illustrate moving dollars from risky assets to guaranteed income and the tool compares the likelihood of meeting retirement goals using the risky vs. guaranteed scenarios.
Module Target User – Advisors
Completion Time –10 to 20 minutes
This module:
- Reviews the retirement planning process from a sustained income perspective
- Uses Monte Carlo Simulation to establish probabilities of meeting goals for multiple sets of differing assumptions
- Includes side-by-side probability illustrations
- Facilitates moving accumulated assets from a risky investment portfolio into one or more annuities or other guaranteed products
- Illustrates how annuities affect the risk inherent in a lifetime income plan