Planning for Uncertainty
The reality is that planning for your retirement has more variables than absolutes. Planning helps you make the best decision today given the information available. Having plans that take various outcomes into account and provide flexibility are very important for a successful retirement. There are ways to incorporate various scenarios through dynamic planning that can help evaluate many of these variables including:
Market returns
Inflation
How long you live
Your health
Taxes
Change of plans such as moving, inheritance, etc.