A Goals-Based Approach to Financial Planning

A Goals-Based Approach to Financial Planning:
Adviser Massi De Santis offers a step-by-step guide to identifying retirement goals and building a plan to meet them. By Massi De Santis One of my children reminded me of an efficient way to solve a maze: work back from the end to the start. In economics, we use a similar approach to solve planning and strategy problems, called backward induction. Backward induction is a process that starts from the end of a problem and works back in time to determine the sequence of optimal actions, a plan. The