Using Monte Carlo for Inflation Assumptions in Financial Plans
How to use Monte Carlo simulation’s lognormal distribution tool to make inflation assumptions in a financial plan.
Using Distributions in Monte Carlo Simulation
Looking at some MCS distributions and learning how to use the most appropriate one.
How Financial Planning Improves Investors’ Bottom Lines
My financial planning "software" stress-tests a client’s portfolio by calculating their federal and state tax burden for years to come.
Should I Stay or Should I Go (Independent)?
There are a lot of issues to consider before making the move from a wirehouse or bank to an independent advisor.
Factoring Medicare Part B Premiums Into Financial Plans
Since I’ve built my own financial planning software, I can forecast clients’ Medicare Part B premiums as part of their future expenses in retirement.
Financial Planning Software Tradeoffs: My Experience
I considered using a different financial planning software package, but decided to stay with my current software. Here’s why.
Why It’s Called the Web, Plus How I Use Insurance to Update Clients’ Financial Plans
Mike Patton discusses how he's enhancing his website, and how he updates financial plans with an eye toward life insurance.
Temperament & Tools
When you consider the financial planning industry as a profession, the future is extremely bright. This is partly because the financial planner is the only...
On Monte Carlo, E-Mail, and E&O
What a week! I had several appointments that were very productive. I was also working feverishly to tie up some loose ends before I set...
No Trust, No Relationship
Last week was a very interesting one. It consisted of appointments with prospective clients, centers of influence, and a business trip to California. What was...