MaxFi product
Incredibly disappointed in your article in my Tucson newspaper concerning MaxFi. There was no data comparison provided between MaxFi and other companies who use Monte Carlo algorithms. In an equal
Comparison does maxfi consistently show less of a chance of money levels and survival than Fidelity? Maybe but you can’t actually know if the results are valid. And you imply the Fidelity tool will show you will have more money than you actually will. To what purpose would that work for them? If people ran that calculator they would be perfectly happy with their current positions and not change. However if Fidelity showed you ran out of money and maybe that is why you should be either using them as a service or changing your positions or adding more money then wouldn’t that be more beneficial to Fidelity making more money? I feel your article was simply a bought and paid for ad for a guy who is supposedly just selling software but wants you to sign up for an annual subscription. I know a bait and switch when I see it.
Terry Says
Well, you’re wrong about that. I think Larry Kotlikoff may win a Nobel prize one day for his work in changing the current popular approach to financial planning. But rather than defend him, I’m going ask you to read his full substack column, by clicking on THIS LINK:
https://larrykotlikoff.substack.com/p/fidelitys-retirement-planner-versus
I think he makes the comparison far more clearly than I could do in a 750 word column. And I DO admire his bravery in challenging the prevailing “wisdom” on how planning should be done. But don’t take my word for it — or his word. Why don’t you try both services. I’m guessing that if you aren’t satisfied with the results after seeing the difference, he would refund your payment! (And if that’s the case, you can show him this post, and say it was MY suggestion!)
Thanks for reading the column, and caring enough to comment. Now, please take the next step and read his complete explanation for the challenge to the Fidelity model.
