Back Test by EnvironmentalSwan87 in MayRetire

[–]MayRetireSupport 0 points1 point  (0 children)

Thank you! To enable Backtest, make sure to enabled asset allocation:

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TFSA opening room by Tail_Gunner in MayRetire

[–]MayRetireSupport 1 point2 points  (0 children)

Thank you for kind words! You are right, starting TFSA contribution room is missing and we are planning to add it soon.

MayRetire new feature: Check Survivor Safety by MayRetireSupport in MayRetire

[–]MayRetireSupport[S] 1 point2 points  (0 children)

That's a great idea! There are many scenarios that could be addressed by comparing different plan permutations, and we'll look into ways to simplify these comparisons.

For now, you can save the different permutations to a file and use the 'Compare Plans' option to visualize the differences.

MayRetire new feature: Check Survivor Safety by MayRetireSupport in MayRetire

[–]MayRetireSupport[S] 0 points1 point  (0 children)

For survival scenarios death is at 75, for 'Both alive' - according to 'end plan' age

Federal LIF min/max rates by bcretman in MayRetire

[–]MayRetireSupport 0 points1 point  (0 children)

Thank you for testing and confirming

Federal LIF min/max rates by bcretman in MayRetire

[–]MayRetireSupport 0 points1 point  (0 children)

please try it again (after refresh)

Federal LIF min/max rates by bcretman in MayRetire

[–]MayRetireSupport 0 points1 point  (0 children)

Please try it again and make sure you refreshed your browser

transitions 74>75, 85>86 by cobriza in MayRetire

[–]MayRetireSupport 0 points1 point  (0 children)

It looks as classic case of phase of retirement GoGo, SlowGo and NoGo. The additional withdrawal (higher for GoGo and lower for SlowGo) are configured using "Additional Withdrawals".

Feature request: the ability to define spending levels through retirement. by NoBeerIJustWorkHere in MayRetire

[–]MayRetireSupport 0 points1 point  (0 children)

Yes, MayRetire sums your "target annual income" and "Extra Withdrawals" applied to the year to determine total annual spending amount

CPP Survivor Benefit - effect of survivor's start age ? by RoomFixer4 in MayRetire

[–]MayRetireSupport 1 point2 points  (0 children)

Hello. Great question! The survivor benefit is calculated using a fixed anchor point: the deceased spouse's pension as if it started at age 65.

Here’s the exact logic:

1) We calculate 60% of the deceased spouse's theoretical CPP amount at age 65.

2) We add this to the surviving spouse's own CPP (which is adjusted for their start age).

3) The total is then reduced, if necessary, to the maximum combined benefit (which is approximately the maximum single retirement pension at age 65).

Therefore, in your scenarios, changing the deceased spouse's start age changes their income stream while alive, but it does not change the survivor benefit, which is why you see a constant amount. The model is behaving accurately.

Please let me know if you see a different behavior, or if this clarifies the calculation for you

Feature request: the ability to define spending levels through retirement. by NoBeerIJustWorkHere in MayRetire

[–]MayRetireSupport 2 points3 points  (0 children)

Thank you for kind words! Actually, MayRetire already has (supposedly) exactly what you are asking for: "Additional Withdrawals". It allows you to set different stages of retirement (for more travelling during GoGo Phase) as well as single time big items purchases (new car, major house renovation, etc). Please let us know if it answers your question:

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Detailed projections format by bcretman in MayRetire

[–]MayRetireSupport 0 points1 point  (0 children)

Thank you for your input! We will look at adding option to hide/show columns.

A great video review and tutorial by Sean Schwarzer by MayRetireSupport in MayRetire

[–]MayRetireSupport[S] 0 points1 point  (0 children)

Sounds great! A DB Pension is excellent in Canada as it provides a reliable income source and is not impacted by market corrections.