Nancy walks through the Bolden Planner's Overview page, showing your retirement success odds from 1,000 Monte Carlo runs, your savings rate and lifetime tax rate, net worth trends with retirement milestones, and income versus expenses in today's dollars. The next video covers how to adjust your assumptions.
Chapters
Hi everyone, this is Nancy from Bolden and I want to welcome you to Day three of our Get Started series designed to guide you in accurately setting up your plan. In today's video, I'll discuss the overview page of the Bolden Planner. The important metrics of your plan begin with your retirement chance of success, which indicates the probability of funding your plan through longevity age. The chance of success is based upon a Monte Carlo simulation of 1000 runs where the returns on your investments change monthly in order to estimate the probability that you will never run out of money in retirement. Below that, you can access your plan completion and coach, which we discussed in a previous video. Moving down the Financial Wellness Snapshot can help you gain valuable insight into financial wellness metrics such as your savings rate, lifetime effective tax rate, debt to income ratio, and more. I highly recommend seeing the snapshot. Next up is your Net Worth chart. This is where you can learn how your net worth changed in the last month and how your net worth changes over time, including the important milestones of retirement age and longevity age. The Income versus Expenses chart indicates how your income covers your expenses in average after retirement age. The income is based on a calculation of income streams such as pensions and Social Security, as well as a 4% withdrawal from your assets. This chart is displayed in today's dollars and is not an exact calculation of your income and expenses under the withdrawal strategy you have selected. And the last items on the overview are nudges about attending our live events and how you can use our Explorers to do better with your money. Thank you for joining me in today's video. I'll see you in Get Started Series four to discuss the assumptions in the Bolden Planner.
