dollar amount for all years pre-retirement dollar amount varying by year pre-retirement consulting income consumption post-retirement percent of final salary percent of final salary in first year, changing by a growth rate dollar amount each year percent of assets in all years percent of assets in first year, changing by a growth rate Objectives maximize assets at retirement maximize allowable percent of final salary maximize number of years assets are adequate minimize probability of negative assets at death minimize probability of running out of assets by age 90 ensure no more than a 10% chance of running out of assets by death of longest living spouse Constraints adequate consumption spending reasonable rates of return on assets support elders in old... [continues]
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