How to enter defined benefit pension amounts

Question: I have entered defined benefit company plans for me and my spouse. My report is showing much higher pension amounts. It seems accurate for current 2016, but much too high starting next year 2017: ($105,620 for 2016, and $178,211 for 2017 combined). Here is my input: For...

By: RetireWare / Equisoft On 5:09 PM

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Using RetireWare for fee-only practice

Question: I'm in the process of trying to scale my fee-only/advice-only planning practice. With enough clients that I'm reaching significant overload, I'm looking into Canadian planning software that I can use for my clients - but not necessarily with my clients. Answer: If you use the professional version,...

By: RetireWare / Equisoft On 5:06 PM

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Update Wizard

Question: One question on the “Update” feature.  I haven’t used it yet but just trying to figure out what happens when you use it.  So say you update all the financial information and any changes that might need to be done with assumptions, etc.,  does the program then...

By: RetireWare / Equisoft On 5:03 PM

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Purchasing an annuity with RRSP

Question: How do I purchase an annuity in 2020 with my my RRSP? Answer: There is a section in 'Registered Investments' on the 'Financial Information' page where you can select to purchase an annuity with the proceeds of your RRSP. ...

By: RetireWare / Equisoft On 5:01 PM

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Asset allocation and sources of income

Questions: Looking at the Report I have a few questions: Under Asset Allocation it states “The Investor Profile Questionnaire established that the following portfolio: Security might be the most …”  Do I assume that the RetireWare used a “Security” mix for my investments listed under Finances or will...

By: RetireWare / Equisoft On 4:59 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 on the "retirement income target" tab. However...

By: RetireWare / Equisoft On 4:58 PM

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MonteCarlo calculations

Questions: I have a dilemma. Hopefully you can help. My investment adviser recently provided me with a retirement plan using another product. Income, future assets etc. were comparable to what I calculate using RetireWare. However, for the same scenario, RetireWare is indicating a 100% probability of success. The...

By: RetireWare / Equisoft On 4:57 PM

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A few product questions

Question: I have a few questions about some inputs that I cannot resolve on my own. I am a new subscriber but I think I have everything figured out now except the below. Is there a way to model a spousal loan? for example, if I have lent...

By: RetireWare / Equisoft On 4:55 PM

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