Monte Carlo runs thousands of “what if” scenarios based on different possible market returns, inflation rates, and lifespans. If a plan has a 90% “success rate,” that doesn’t mean a 10% chance of going broke. It means that in 1 out of 10 scenarios, a retiree might need to adjust spending. I am constantly staying up to date on research and best practices in financial planning. Uncertain about whether they'd outlive their money in retirement, 62-year-old frequent travelers Lisa and Mike met with me to go over their situation. After our first plan, they have a 75% probability of success. They could increase it with spending adjustments over time, which may just mean they take international trips every nine months rather than every six. I'm a good referral for 67-year-old Steve, whose mother-in-law is relying on him to support her $9500 a month memory care cost. He wants to be sure that he doesn't put his twin daughters in the same predicament. Ask him who the Mississippi State Bulldogs are playing this weekend.