Retirement Planning: Probabilities, Problems and the Power of Policy. CISI Financial Planning Conference 2019.
A keynote presentation by Amyr Rocha-Lima, CFP®.
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As financial cash flow planning and Monte Carlo analysis become increasingly popular in retirement planning, financial planners are talking more about the probabilities of a client’s success or failure.
Most planners evaluate client goals, look at the probability of success (defined usually as not running out of money), and the client then makes a decision about whether they like the result or not.
However, given the long term nature of a retirement plan, the truth is that ‘failures’ might merely require mid-course adjustments and that ‘successes’ actually leave over excess money. Which is why it’s so important to agree on a withdrawal policy statement to guide the financial planner’s (and the client’s) actions going forward.
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Amyr Rocha-Lima, MSc FPFS CFP®
Amyr is a financial planner who specialises in helping successful business owners and senior professionals feel educated, relaxed and optimistic about their retirement plans.
He is a partner at Holland Hahn & Wills, a financial planning and wealth management firm based in Kingston upon Thames (United Kingdom).
Amyr is a Fellow of the Personal Finance Society and a frequent commentator on financial planning and wealth management matters for both national and specialist media.
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