Using Monte Carlo Methods for Retirement Simulations

Aditya Gupta and Vijay K. Tayal

Papers from arXiv.org

Abstract: Retirement prediction helps individuals and institutions make informed financial, lifestyle, and workforce decisions based on estimated retirement portfolios. This paper attempts to predict retirement using Monte Carlo simulations, allowing one to probabilistically account for a range of possibilities. The authors propose a model to predict the values of the investment accounts IRA and 401(k) through the simulation of inflation rates, interest rates, and other pertinent factors. They provide a user case study to discuss the implications of the proposed model.

Date: 2023-06, Revised 2023-11
New Economics Papers: this item is included in nep-age and nep-cmp
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