Retirement age financial simulator
First Claim
1. For use in a computer implemented tool for financial retirement simulation, comprising:
- input means for receiving user information, static assumptions, and dynamic variable parameters;
means to simulate one full retirement scenario with user information and static assumptions;
means for storing the result of one full retirement scenario simulation with user information and static assumptions;
means to simulate multiple full retirement scenarios with user information and static assumptions, modifying the static assumptions by the Monte Carlo technique into dynamic variables within the dynamic variable parameters;
means for storing results of multiple full retirement scenario simulations with user information and dynamic variables; and
output means for generating a graphical output report of stored results illustrating the simulated retirement scenarios.
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Abstract
The present invention provides the user a financial retirement simulation tool that accepts user inputs like investment portfolio value, retirement age ranges and post retirement spending rules based on the retirement circumstance, further inputs are included like projected market performance and inflation impact assumptions, the invention then simulates a multitude of retirement financial scenarios at various retirement ages and various post retirement spending levels with the retirement circumstance dynamically simulated with the market performance and inflation impact assumptions modified within a statistically acceptable range using the Monte Carlo technique, resulting in a plurality of potential retirement financial scenarios with probabilities of those scenarios occurring.
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Citations
20 Claims
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1. For use in a computer implemented tool for financial retirement simulation, comprising:
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input means for receiving user information, static assumptions, and dynamic variable parameters; means to simulate one full retirement scenario with user information and static assumptions; means for storing the result of one full retirement scenario simulation with user information and static assumptions; means to simulate multiple full retirement scenarios with user information and static assumptions, modifying the static assumptions by the Monte Carlo technique into dynamic variables within the dynamic variable parameters; means for storing results of multiple full retirement scenario simulations with user information and dynamic variables; and output means for generating a graphical output report of stored results illustrating the simulated retirement scenarios. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. For use in a computer implemented tool for financial retirement simulation, comprising:
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input means for receiving user information, static assumptions, and dynamic variable parameters; means to simulate multiple full retirement scenarios with user information and static assumptions, said static assumptions modified by the Monte Carlo technique into dynamic variables within dynamic variable parameters; means for storing results of multiple full retirement scenario simulations with user information and dynamic variables; and output means for generating a graphical output report of stored results illustrating the simulated retirement scenarios. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification