What is it about?
This article is about using stochastic, mixed integer programming to determine where to invest, how much to convert, how much to spend, and where to draw saving from over a lifetime with the goal of having more after-tax money available to the saver and their heirs.
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Why is it important?
This method allows people to spend more money and leave more after-tax money in their estate.
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This page is a summary of: Optimized Financial Systems Helps Customers Meet Their Personal Finance Goals with Optimization, INFORMS Journal on Applied Analytics, August 2016, INFORMS,
DOI: 10.1287/inte.2016.0849.
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