Customer Comments
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"R$P 2000 dramatically shortened the learning curve for us while converting
a sophisticated mathematical analysis into an understandable story with
nice graphics for our clients."
Mark Balasa, CPA, CFP
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"The excellent R$P 2000 program and technical support have made the transition to Monte Carlo planning much easier."
John C. Lynch, CPA, CFA, CFP
Lynch Financial Group
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"I like your R$P 2000 program. It provides the kind of insights into retirement I have always wondered about."
Ray Mosher
R$P 2000 user
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"I am pleased with the program. The first few
times I used it I thought "Oh, bother" when confronted with all the required
input, but the effort proved worthwhile. Monte Carlo simulation is useful
for those who understand its limitations. In my fee only practice I present
clients with a deterministic model, validated with a stochastic model (RSP).
If both models indicate the likelihood of success, I figure the chances are
pretty good that it will work in the real world. I prefer the 95% confidence
level in the stochastic model, although that is not always feasible.
"The instructions that came with the original program were not terribly
useful, but the later revised instruction booklet was quite helpful. Reading
it helped me better understand how the program works. Overall, I rate RSP a
solid "A.""
Barry Vokes, MBA, MSFS, CFP, ChFC, FLMI, REBC, RHU
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Articles
Ed McCarthy,
"Puzzling Predictions",
Bloomberg Wealth Manager,
December 2002/January 2003
Jeff D. Opdyke,
"Will My Nest Egg Last?",
The Wall Street Journal,
June 5, 2000
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Reviews
2002 Software Review at www.montecarlosimulations.org
www.montecarlosimulations.org:
R$P 2000 reviewed under "WAGNER ASSOCIATES R$P 2000"
Software Review at www.montecarlosimulations.org
www.montecarlosimulations.org:
R$P 2000 reviewed under "Retirement Capital Needs Analysis Models"
Review of R$P 2000 by Independence Advisors, Inc.
Independence Advisors, Inc. is thrilled
with your latest version of RSP. It has enabled us to give a peace of mind
to numerous clients largely by answering the question -
"Do we have enough money to live out our days in financial security?"
By giving a range of
answers as opposed to the single point type provided by static, single
return, retirement calculators, our clients have gained a better vision of
their financial futures. It is one that more closely resembles their real
life experience where investment returns are far from steady and predictable
over the short term. Furthermore, it gives us one more opportunity to drive
home our investment philosophy, which focuses on getting investment returns
with the least amount of risk and greatest degree of predictability
possible.
Once the question of financial security is addressed, then a whole range of
wealth management issues can be effectively dealt with - Answers begin to
surface like:
"It looks like we can go on an extra vacation each year."
"We should begin to reduce our estate by starting a gifting program."
"I have enough assets even in the face of a long term illness."
"I am glad I don't have to rely on the volatile NASDAQ to secure my retirement."
"Now I understand why bonds are so useful in my portfolio."
One interesting nuance that we dealt with recently comes under the heading
of risk and concentrated positions. Our clients, a married couple in their
early 70's, both in good health had just over 70% of their investable assets
in 11 large cap US Stocks with low cost bases. We were confident that the
size of their portfolio virtually guaranteed their financial security.
However we wanted to indicate to them that a better-diversified portfolio
would give them a higher probability for a larger terminal wealth number.
Taxes are always the friction point with these types of situation. We
hypothesized though that after paying capital gains taxes, and having a
portfolio with a lower standard deviation, they would be better off. Sure
enough, RSP bore this out.
Tom Post, CFP
Partner, Independence Advisors, Inc.
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