The holy grail of Internet personal finance sites has been to create a retirement-planning calculator that’s almost as good as a face-to-face consultation with a financial planner. Now some sites ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...

Tzveta Iordanova is an expert in credit and risk management, financial reporting, and a writer for online financial services platforms. Andy Smith is a Certified Financial Planner (CFP®), licensed ...

Monte Carlo Simulations are a modeling tool used to simulate reality and calculate probabilities of a portfolio supporting a certain withdrawal rate. With the market collapse of 2008, however, many ...

The calculation of multivariate normal probabilities is of great importance in many statistical and economic applications. In this paper we propose a spherical Monte Carlo method with both theoretical ...

ABSTRACT There is randomness in both the applied loads and the strength of systems. Therefore, to account for the uncertainty, the safety of the system must be quantified using its reliability. Monte ...

What is a Monte Carlo simulation? A Monte Carlo simulation in investing is like rolling the dice on potential outcomes for your investments. Instead of relying on past performance or gut feelings, ...