A financial planner and portfolio simulation system projects the simulated cumulative risks and rewards of a plurality of mixed portfolios in relation to the expected risk and reward of a minimum-risk or relatively risk-free baseline portfolio. Through simulation, the system generates, for each mixed portfolio, a distribution of average retirement budgets that the corresponding mixed portfolio would be projected to sustain. An asset allocation risk and reward spectrum chart is provided that graphs various percentile-ranked samples from each distribution on a computer-generated plot that also displays the sustainable retirement budget supported by a baseline portfolio. The statistical and graphical comparisons of the mixed portfolios to the baseline portfolio assist investors in choosing mixed portfolios best suited to their retirement goals and risk tolerance.