Comprehensive Retirement Planning with Prestenback Wealth
At Prestenback Wealth, we specialize in creating detailed retirement plans tailored to your unique needs. And we can provide this customized approach to retirement planning thanks to not just our talented personnel… but also advanced technology such as our eMoney tool, and proven testing strategies like the Monte Carlo simulation.
Understanding eMoney
eMoney is a powerful digital platform that helps advisors and clients alike see, plan, and manage their entire financial lives. It includes features like budgeting, goal tracking, investment analysis, estate planning, and retirement planning.
How eMoney Enhances Your Retirement Planning
Complete Financial View
With eMoney, we can bring all your financial accounts and assets together in one place. This comprehensive view helps us make better decisions and create a retirement plan that covers all aspects of your financial life.
Scenario Planning
eMoney lets us explore different retirement scenarios by changing factors like when you retire, how much you save, investment returns, and spending habits. This helps us spot potential risks and opportunities and adjust your plan as needed.
Interactive Planning
eMoney’s interactive tools allow you to take an active role in your retirement planning. You can explore different strategies and scenarios, making sure your plan matches your goals and preferences.
Using Monte Carlo Simulation
What Is Monte Carlo Simulation?
Monte Carlo simulation is a method we use to understand the impact of risk and uncertainty in financial planning. It helps us predict the chances of different outcomes under various market conditions.
Benefits of Monte Carlo Simulation in Retirement Planning
1. Risk Assessment
We run a Monte Carlo simulation to evaluate thousands of possible scenarios, allowing us to understand the range of possible outcomes and the likelihood of each scenario. During the process, we examine variables such as how much in monthly income you’ll withdraw, how the market might perform, or the age at which you’ll retire. Ultimately, this simulation system helps advisor and client alike understand every risk involved.
2. Stress Testing
We then use the Monte Carlo system to determine how your retirement plan would perform under difficult conditions, including economic downturns or unexpected major expenses. We conduct these stress tests to ensure that, even in dire situations, your retirement plan won’t collapse.
3. Optimization
The results from our Monte Carlo simulation help us fine-tune your retirement plan, balancing your investment risks and returns to give you the best chance of reaching your goals
Why Choose Prestenback Wealth for Your Retirement Planning?
We don’t believe you have to choose between personal, tailored service and a data-driven approach. When you choose us as your dedicated financial advisors, you’re signing up to get both. Between our earnest, one-on-one conversations about your money needs, as well as the use of high-tech tools such as eMoney and our Monte Carlo simulation software, you’ll receive everything you need to make well-informed decisions and achieve financial security.
