I’ve posted my fourth Google Knol. It is called The First Retirement Calculator That Gets the Numbers Right.
Juicy Excerpt: The valuation level that applies on he day the retirement begins is the single biggest factor bearing on the safety or lack thereof of the retirement plan. The Old School studies, developed in accord with the premises of the Buy-and-Hold Model, ignore this factor. Thus, the studies get all the numbers wildly wrong. And the retirement calculators based on these studies also get all the numbers wrong. We need a newfangled sort of retirement calculator!