Functionality

Questions:

1. Will the product allow me to prepare retirement income projections for my wife and me combined?

2. Assuming yes, will it allow different start times for her and my CPP and OAS?

3. Will it provide any optimization regarding when we should start drawing from RRSPs relative to
OAS and CPP?

Answer:

1. You can do retirement income projections for a couple for a common plan by entering separately the financial information for each.

2. Yes you can start CPP and OAS, or retire at different times.

3. The software does not optimize the retirement date that will be best for RRSP withdrawals relative to OAS and CPP. But you can run a few different scenarios to find a practical solution.

By: RetireWare / Equisoft On 11:10 AM

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Risk Analysis

Question:

Is there an explanation to what changes in metrics are used for the longevity, market, sequence of events and inflation risk analysis?

Answer:

You will find information in the help files under 'View Menu' | 'Risk Analysis'.

Here's a link that provides more background on the approach used:

http://retireware.blogspot.ca/2013/12/quantifying-risk.html 

By: RetireWare / Equisoft On 11:10 AM

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Demo Account

Question:

Do you have a demo account that I can test drive?

Answer:

No, but you can purchase the version you want to try it and we will refund your payment in full within 30 days if you don't like it or find it not to be a good fit for your needs.

In order to get a refund, simply send an email at support@retireware.com and we will do the refund within one business day.

If you work for a financial services company and are looking for a vendor that does custom development, customization or white label versions of products, we do provide a demo account.

By: RetireWare / Equisoft On 11:10 AM

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Detailed Cash Flow Tables

Question:

When I try to view the detailed table for both income and accumulations, nothing comes up. Any suggestions on how to fix?

Answer:

Please ensure your browser doesn't block "pop-up" windows. Or try another browser, such as Google Chrome.

By: RetireWare / Equisoft On 11:10 AM

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Types of Assets Supported by RetireWare

Question:

My spouse and I have salary income. We are contemplating early retirement (5 years early). We will both earn small pensions from our employers.

We have the following 6 registered plans. TFSA x 2, RRSP x 2, Locked-In registered plan (LIRA) x 2, plus Investment accounts x 2 plus an investment property.

Before I purchase a DIY plan I am writing to inquire if the software will has functionality to input details for all the above accounts individually.

Answer:

You'll be able to enter all these types of accounts and property separately for each spouse by selecting the option of doing a plan that combines the financial information for both spouses on the Forecast page.

By: RetireWare / Equisoft On 11:09 AM

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How to input annual TFSA contributions

Question:

How do I input annual TFSA contributions of $5,500 till I retire?

Answer:

1. On the Forecast page, on the 'Savings Plan' tab, enter $5,500 and under Advanced select the last savings options (TFSA first).

2. Enter you TFSA room and contributions this year on the Financial Information page under 'TFSA'.

Note that you have to select TFSA as a source of retirement income on the Options page.

By: RetireWare / Equisoft On 11:09 AM

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Rates of Return

Question:

In the economic outlook when I enter my own custom rates of return and in advanced you include investment management fees does that reduce the rates of return by the investment fee?

Answer:

Yes it does, whether you select the standard forecast or enter your own custom rates of returns.

By: RetireWare / Equisoft On 11:09 AM

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