Wednesday, July 20, 2016

Use of Funds

11:11 AM


Question:

Does the application look at the original amount in non-registered and as soon as that amount is used it switches to registered withdrawals?

Does it consider deposits after the original date?

Answer:

If at one point you don't have any other sources of funds, and non-registered and TFSA accounts are used up, your withdrawals will come from registered funds to meet your retirement income goal. if
you select to receive payments from registered funds as late as possible on the Options page.

On the 'View' page, at the bottom of the Accumulations and Income Forecast tabs there are pop-up tables that show the detailed cash flow.

You can open these tables and see the usage of funds to meet the income goal. You can do  for you, your spouse or the combined results.

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