RICP Practice Questions - RICP Retirement Income Certified Professional Exam

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A retiree experiences a 20% portfolio loss in year 1 and a 20% gain in year 2, while another retiree experiences the same returns in reverse order. With identical withdrawals, what is true?

Both retirees end with the same portfolio value The retiree with the early loss ends with a lower portfolio value The retiree with the early loss ends with a higher portfolio value The order of returns does not matter when there are no withdrawals

Correct Answer:

The retiree with the early loss ends with a lower portfolio value

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