Retirement models

Retirement models are frameworks used to estimate how much money you'll need and how to save for your retirement. They consider factors like expected expenses, investment growth, inflation, and your desired lifestyle to project your future savings. Common models include the traditional goal-based approach, which plans for specific financial targets, and the more dynamic Monte Carlo simulations that assess different scenarios and uncertainties. These models help individuals and planners develop strategies to ensure financial security and a comfortable retirement by balancing saving, investing, and timing withdrawals effectively.