Sale of Principal Residence

Question:

I have completed entering data for my wife & myself. The data includes selling the principal residence and using a portion of the capital for future income.

However the program results ignore that instruction. Principal residence value continues unchanged and cash flow goes negative.

Answer:

Ensure that you selected 'Personal Residence' as a Source of Income' on the Options page.

The same applies for the sale of another property, business or other future assets.

By: RetireWare / Equisoft On 6:35 PM

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Detailed Cash Flow

Question:

Is there a way to see the cash flow for the asset and income in a table format?

Answer:

There are links in the last part of each of the Accumulations, Income Forecast and Savings tabs in the View results page.

The links open a pop up window that display the full cash flow.

By: RetireWare / Equisoft On 6:33 PM

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Pension Income Splitting

Question:

Does the software take into account defined benefit plans and post retirement income splitting?

Answer:

Yes, you can enter in the 'Pensions' page a current or past defined benefit pension plan.

There is an option for splitting pension income, and if selected the program will apply the splitting in the years it is advantageous to do so.

By: RetireWare / Equisoft On 6:32 PM

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Economic Forecast

Question:

Can the rates of returns be adjusted by the user or are they fixed?

Answer:

If you have the professional or DIY version, you can modify the rates and have your own forecast.

Otherwise, the RetireWare defaults will apply.

By: RetireWare / Equisoft On 6:31 PM

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Compliance

Question:

Does this software comply with IIROC Guidelines?

Answer:

A review of IIROC's Guidance Note 11-0349 "Guidelines for the review, supervision and retention of advertisements, sales literature and correspondence" indicates that it is not in breach of the policy.

However, you may want to ask your compliance department. If you do, give a link to this blog post for background.

What is RetireWare?

RetireWare a Web-based risk management and retirement planning collaborative software for advisors designed to build referral networks using social media.

The software provides an assessment for the main post-retirement risks: market, longevity, inflation, health care costs and early death and others.

It also integrates in the analysis an investor risk profile questionnaire, budget and net worth statement and detailed retirement goal setting.

All results are based on accurate income tax calculations, OAS clawback and income splitting between spouses.

Relevant links on the Website

How it works for advisors:

http://www.retireware.com/advisors.aspx

How it works from the user's point of view and also some information on privacy:

http://www.retireware.com/overview.aspx

Data security:

http://retirefaq.blogspot.ca/2012/12/question-im-bit-concerned-about-having.html

Product features for advisors:

http://www.retireware.com/features.aspx

By: RetireWare / Equisoft On 6:29 PM

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Post-retirement Budget

Question:

I am retired and the software seems to ignore the post retirement budget data I’ve entered for my wife and I. The budget statement is empty.

Answer:

There are two budgets: pre-retirement and post-retirement. The budget that applies in your case is the post-retirement budget.

Since you're retired, the post-retirement will show as the budget; if you're not retired, the pre-retirement will show in the results.

Ensure the retirement income goal is "based on expenses", otherwise it will not use the post-retirement budget as the retirement income goal.

By: RetireWare / Equisoft On 6:27 PM

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Incomplete or no 'View' Page

Question:

I have entered all information into an advanced retirement plan and the only result that shows up under “View” is one chart.

There is no Monte Carlo, risk analysis, accumulations, income forecast, etc.

Answer:

For a few users who use Internet Explorer 9 (and sometimes the recent version of Firefox (19.x), the 'View' or 'Review' page sows as incomplete.

You can fix this by clicking the 'compatibility icon' in the address bar. When clicking the 'compatibility icon', after a few seconds the page redisplays along with all the tabs and button functionality.

Here are a couple of links for background:

http://windows.microsoft.com/en-CA/internet-explorer/use-compatibility-view#ie=ie-9

http://www.sevenforums.com/tutorials/1196-internet-explorer-compatibility-view-turn-off.html

Here are a few other suggestions:

1. If the page does not completely load, try refreshing the page (you can hit the F5 key on your keyboard, or click the refresh icon in the address bar of your browser).
2. Use Google Chrome, which does not have these issues.
3. Ensure you do not have add-ons that interfere with page display and that javascript are allowed to run.

By: RetireWare / Equisoft On 6:26 PM

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