Significant Success Rate Differences
Hey all,
Recently completed a financial plan with Objective Financial Planners to assess retirement readiness (I'm 49) and wanted to use a self-managed tool to track changes from there. After some time reviewing options, decided to use Adviice.
Have re-constructed essentially the same outcome as OFP completed for me in their tool (Planworth) but there is a significant difference between their estimate of success (90-95% depending on a few minor tweaks to plan) and Adviice (51%). I get both use a Monte Carlo analysis and the range of variables may differ but also expected these would be much closer to each other.
This has me a bit deflated tbh as I was ready to go scorched earth at work in anticipation of retiring next year (kidding).
Anyone else find this using different tools for planning? Thoughts on what might be the main driver(s)?
Thanks!