Retirement Savings Marathon

The magic bullet We try to learn about investing and become better at it, but too many of us cannot overcome being financially challenged, or more precisely being comfortable making investing decisions. To boot many have no time or interest in the topic. To alleviate this state of...

By: RetireWare / Equisoft On 11:40 PM

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What Makes RetireWare Different from Other Products

Question: I am looking at getting a planning software that helps calculate retirement but also shows clients their net worth. Why would I use RetireWare rather than other products? Which version would you suggest I use? Answer: RetireWare is unique in the following ways: Focus on long-term planning:...

By: RetireWare / Equisoft On 8:45 PM

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If You Want to Learn About Products from Competitors

There are very few retirement planning software products for individuals, but there are a few for financial advisors. AdvisorTek maintains a comprehensive directory for the latter. The directory lists software and technology providers for corporations and advisors in the financial services industry. Note that some products are for...

By: RetireWare / Equisoft On 8:22 PM

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Activity Report for Professional Collaborative Version

Question: Just curious if there is any way to see if a client has logged into their file or are using it at all ? Answer: After logging in, click 'Network' on the left toolbar, then click 'My Network'. At the bottom there is a user list with...

By: RetireWare / Equisoft On 8:19 PM

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Canada Pension Plan Estimate

Question: I am getting a CPP payout of $0 in my detailed cash flow forecast. I suspect it may be because I am already (early) retired (my spouse is still working) and I have not entered any employment income in the setup data. But I have paid in...

By: RetireWare / Equisoft On 8:19 PM

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Assets and Future Income

Question: I do not plan to retire for another 10 years. Does the software allow me to input my current income details (indexed for inflation) and asset (residence, RRSPs, investment portfolio) and liability balances as well as current expense budget (indexed for inflation) to see how I am...

By: RetireWare / Equisoft On 8:17 PM

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Lifestyle Needs

Questions: Does RetireWare allow you to enter your lifestyle needs item by item. e.g. housing expenses, living expenses Including food, entertainment etc etc), travel expenses, transportation expenses. Then does it allow you to enter RRSP and TFSA balances and unregistered investment accounts separately for myself and my spouse...

By: RetireWare / Equisoft On 8:16 PM

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Income Goals and Rates of Returns

Questions: I just have a couple of questions before I start rolling it out to  my clients. 1. When it asks for Annual retirement objective … choice # 2 – total dollar amount:   Will this include all sources such as CPP , OAS , and then net...

By: RetireWare / Equisoft On 8:15 PM

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MonteCarlo Calculation

Question: I have a dilemma. Hopefully you can help. My investment advisor recently provided me with a retirement plan using Naviplan. Income, future assets etc were comparable to what I calculate using RetireWare. However, for same scenario Retireware is indicating 100% prob of success. He is indicating 14%...

By: RetireWare / Equisoft On 8:12 PM

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Mac Compatibility

Question:  Please confirm that your software will run on a Mac book Pro laptop Space running the latest Apple software. Answer: This is a Web-based application that runs from any of the main Internet browsers, including Safari running on a Mac. ...

By: RetireWare / Equisoft On 8:11 PM

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Cash Flow Forecast

Question: In the Cash Flow Forecast Detailed Data Table, there is a column of data called "Retirement Objective Net". From what I can see it includes the Post retirement expenses that I setup along with special expenses according to the parameters that I setup in the "Retirement Income...

By: RetireWare / Equisoft On 8:10 PM

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Asset Allocation Used for the Calculations

Question: Under Asset Allocation it states “The Investor Profile Questionnaire established that the following portfolio: Security might be the most …” Do I assume that RetireWare used a “Security” mix for my investments? Answer: The calculations use the asset allocation basis selected on the Asset Mix for Projections tab...

By: RetireWare / Equisoft On 8:09 PM

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Use of Personal Residence for Retirement Income

Question: Under Sources of Retirement Income it has “yes” next to Personal Residence even though I indicated for both my wife and me “Never” under “Financial Information – Principal Residence – Sell Principal Residence.”  Are the income projections using the value of our personal residence or not? Answer:...

By: RetireWare / Equisoft On 8:07 PM

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Collaborative vs. Professional Version

Questions: My understanding of RetireWare is that the Professional Version is used by the financial professional to prepare a retirement plan for the client. The client is then not able to access the plan to update its progress. Is that correct? My understanding of the Collaborative Professional Version...

By: RetireWare / Equisoft On 8:05 PM

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Education Savings

Question: I'm not sure where I enter my RESP contributions.. Can you please help? Answer: You can enter RESP contributions on the Budget Information tab on the Pre-retirement Budget page. There is also a stand-alone RESP planning tool on the Applications tab on the main page. ...

By: RetireWare / Equisoft On 8:02 PM

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