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Risk aversion is well understood by economists. There’s a mathematical underpinning to it that may be tricky for the layman to understand. The basic idea is quite easy to understand. In the context of retirement planning there are some unique
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Buying a lifetime annuity is a decision you shouldn’t take lightly. In return for a guaranteed income for life you’d be sacrificing a chunk of capital. On the other hand guaranteed income can do wonders for our peace of mind.
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The concept of utility is central to how EvolveMyRetirement® is able to optimise your retirement strategy. Some of our users have asked to learn more about it, and this article is designed to provide some insight. Utility is an economic concept,
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Monte Carlo simulation is a modelling technique that’s useful in many areas, including physics, engineering and finance. If a process depends on multiple random variables, it can be impossible or impractical to calculate the odds of different outcomes. The Monte
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When you use the EvolveMyRetirement® app for the first time, you’ll no doubt have an initial emotional reaction to the resulting optimisation. This reaction depends both on the state of your finances and on your prior expectations. Unlike most retirement
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With a typical online retirement calculator, scenarios mean trying out different inputs and seeing how they change the results. So for example, you might vary your assumed income, investment growth or spending. But whatever you set them to, the calculator
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Optimisation isn’t usually the first word that comes to mind when thinking about retirement. Some people have grand dreams, others hope to avoid poverty; many avoid thinking about it. Here at EvolveMyRetirement® we’ve recognised that optimisation is an important component
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If you’re part of a couple, whether married, in a civil partnership or just committed, retirement planning means considering both partners. That’s easier said than done. Simple retirement calculators are usually based on just one individual; and they’re usually too
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