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Author: mtclimber Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Planning for retirement Date: 7/20/1999 8:07 PM
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Hi,

My father asked to help him to plan a portfolio for my parents retirement. Basically they have a large mix of various investments that they've made (401Ks, IRAs, mutual funds, bonds, cash, etc) and are getting close to the retirement age (about 2-3 more years). Most of the investments are very conservative since they don't know a lot about investing.

I'd like to create a good "plan" with my Dad to make what they've saved last as long as possible. I have done some investing myself, but my goals are very different since I have many years till I retire. I also have some experience with building models and some understanding of math behind the financial markets.

I'm looking for the following:
1. A good book that talks how to plan for retirement if you are really close to it. Most books assume that you are starting early, and therefore are not very useful. I'm also interested in books that will help me build a model to forcast (with uncertainty modeling) how long the money will last

2. Any software that would make the forcasting/modeling easier. I'm used to using Excel with some plug-ins, but are there any more specialized SW packages?

I'm not looking to create an estimate -- I've done that already. I'd like to be able to say how much to invest in stocks/bonds/mutuals and how much to keep as cash; in what order use up the savings (i.e. IRA first, then 401K, then cash, then house, etc...)

Any thoughts???

P.S. Before anyone suggests a Financial planner, I'd like to do this first before we try outside help.
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