by CI Staff
MCRetire is a Monte Carlo simulation program by Efficient Solutions Inc. that helps users determine if they have adequate assets to meet their retirement needs. Unlike most retirement calculators, MCRetire takes into account fluctuations in return on investment ( during the retirement period and calculates the probability of success.
To be more specific, a Monte Carlo simulation uses random variables to approximate the probability of certain outcomes, rather than naively assuming a constant growth rate. By also allowing users to adjust for tax, inflation and obstacles, MCRetire provides users with a more realistic and potentially more accurate representation of their retirement situation.
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