Retirement Income Planning Is As Easy As XYZ
As an alternative to failure rates, I suggest calibrating the downside risk across strategies in order to match them for a level of risk the retiree is comfortable taking. This calibration is done with a customized “XYZ formula” that I first outlined in my article, “Making Sense Out of Variable Strategies for Retirees” in the Journal of Financial Planning.
Pfau, Wade D. PhD, "Retirement Income Planning Is As Easy As XYZ" (2016). Faculty Publications. 592.