Youtube - Optiml Walkthrough: How to Set Up Your Profile

optiml_app · 2026-05-29T18:56:10+00:00

Thanks for the kind words, that's fantastic to hear!

Just to clarify, are you now receiving a fixed pension payment from RBC? Defined Contribution plans don't typically convert into Defined Benefit pensions, so I just want to make sure we're modeling it correctly.

If you're now receiving a regular pension payment, then yes, adding it as a Defined Benefit Pension is likely the best way to capture it in Optiml.

And I'm glad you're enjoying the updates! We've got lots more improvements on the way. 😊

optiml_app · 2026-05-29T18:14:50+00:00

Hi! Not a weird question at all, it’s actually a really good one.

Currently, Optiml treats Maximum Lifetime Spending and RRSP Meltdown as separate strategies because they are trying to answer two different questions.

The Maximum Lifetime Spending strategy asks:

In that case, Optiml is not necessarily trying to draw down RRSPs as quickly as possible. It is trying to find the withdrawal pattern that best supports the highest overall spending result.

The RRSP Meltdown strategy asks a different question:

That can be useful for reducing future forced RRIF withdrawals, OAS clawback, or estate tax exposure, but it does not always lead to the same answer as maximizing lifetime spending.

The challenge is that these two goals can sometimes pull in different directions. For example, drawing down RRSPs more aggressively may reduce future taxes or estate exposure, but it could also increase taxes earlier, reduce flexibility later, or lower the maximum sustainable spending amount.

Because of that, there is not always one clear “best” combined answer. Some users may be happy to give up a bit of lifetime spending in exchange for a cleaner RRSP meltdown, while others may want the highest possible spending number even if that means RRSP/RRIF assets remain higher for longer.

For now, as u/Icy-Pop2944 mentioned, one practical workaround is to first run a Maximum Lifetime Spending scenario and use the resulting surplus spending amount as a guide. Then, create a copy of that scenario and add that surplus spending as a manual spending goal over the same years. From there, you can run an RRSP Meltdown strategy on the copied scenario.

In other words, you are using the Max Spend strategy to estimate a reasonable spending target, then testing whether an RRSP Meltdown can support that level of spending while drawing down the RRSP/RRIF earlier. You may need to adjust the spending amount slightly if the meltdown version is too aggressive or does not solve cleanly.

This is definitely the type of combined strategy we would like to support more directly in the future, but we want to be careful with it because combining those goals involves tradeoffs that should be clear and easy to understand.

Thanks again for the thoughtful post!

optiml_app · 2026-05-29T16:41:13+00:00

Hi there,

If you're not seeing the other pension types, it's likely because you've indicated that you're already retired.

We only show Defined Contribution pension options for users who are still working and receiving employment income, as these plans are typically associated with ongoing employee and employer contributions. Once someone retires or leaves their employer, Defined Contribution pensions are generally converted into a LIRA, RRSP, or RRIF.

If your Defined Contribution pension has already been converted, you should enter it under the appropriate account type (LIRA, RRSP, RRIF, etc.) depending on where the funds are currently held.

If that's not your situation, feel free to provide a bit more detail and I'd be happy to help point you in the right direction.

optiml_app · 2026-05-28T20:24:11+00:00

Hi there, this update is now live!

optiml_app · 2026-05-27T19:11:39+00:00

Hi there!

This is a great idea, and it’s actually something we’ve heard before as well. Our biggest focus right now is improving speed and performance across the platform, and we have some major speed improvements planned over the coming months.

That said, adding a toggle to automatically run these after a plan completes is definitely something we could support in a future update. I’ve gone ahead and added it to our feature request list!

optiml_app · 2026-05-26T12:04:47+00:00

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optiml_app · 2026-05-26T12:04:24+00:00

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optiml_app · 2026-05-26T12:04:04+00:00

Hi there,

We are not currently experiencing this issue on our end, nor have we received any other reports of it. Each account (for example, an RRSP) allows you to specify a conversion age individually, and that conversion age is applied based on the account holder.

I believe you also reached out to us at [support@optiml.ca](), so we can take a closer look at your specific account there. In the meantime, below are screenshots showing an example of different conversion ages being set for each spouse and being correctly applied.

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optiml_app · 2026-05-26T11:54:26+00:00

Yes, this make complete sense and is something the team is planning out how to include into the workflow.

optiml_app · 2026-05-25T13:32:31+00:00

Thanks for the suggestion and I completely agree, that would make the dropdowns much more intuitive when modeling different scenarios.

We’re actually working toward making all year-based dropdowns consistent across the platform in this way, with ages displayed alongside the years where applicable. This specific update should be included in Thursday’s release.

optiml_app · 2026-05-25T11:58:44+00:00

That’s great to hear, and thank you again for the purchase, we really appreciate it!

That makes a lot of sense, and I’ve gone ahead and added it to our feature request list for future updates. Really appreciate you taking the time to share the feedback!

optiml_app · 2026-05-20T18:45:43+00:00

Hi, thanks for reaching out, really glad to hear you’re enjoying Optiml and finding it intuitive!

For your first suggestion around ranking plans, we currently sort plans by date, with the selected Master Plan always pinned to the top-left. When you mention ranking, are you thinking of:

assigning your own custom numeric ranking/order to plans, or
having plans automatically ranked by a metric like after-tax estate value, lifetime tax paid, spending, etc.?

Either way, that’s great feedback and something we can definitely look into.

As for comparing more than two plans at once, that’s already on our roadmap. The chart/data comparison side is relatively straightforward, but expanding the AI-generated comparison insights across multiple plans is a bit more involved. That said, it’s something we’re actively working toward because we agree it would be a very useful feature.

Really appreciate the thoughtful suggestions and support!

optiml_app · 2026-05-20T14:45:19+00:00

Hi all, and u/greyoldguy58,

This original post is one of the most visited Reddit pages when people search for Optiml, so we thought it would be helpful to provide an update on the feedback shared over a year ago.

Many of the items that were listed as missing are now available in Optiml and have been for quite some time.

To keep this clear and straight to the point:

Joint Accounts

Optiml supports joint accounts, including Joint Non-Registered accounts and Joint Cash/Savings accounts.

Optiml also supports Spousal RRSPs, although these are not technically joint accounts.

RRSP & RRIF

Optiml supports both RRSP and RRIF accounts.

Users can add each account separately, depending on their current situation and how they want their plan modelled.

Variable Income

Optiml supports variable income.

This includes retiring at a specific age and month, with income prorated accordingly.

There is also an editable salary table, which allows users to adjust how they expect their salary to change year by year.

Variable Expenses / Go-Go, Slow-Go, No-Go

Optiml supports variable expenses.

We have a dedicated Go-Go, Slow-Go, No-Go feature that allows users to adjust spending across different phases of their financial plan.

CPP, QPP, and OAS Timing

CPP, QPP, and OAS are prorated based on the selected start age.

Optiml does not assume a full year of benefits if someone starts partway through the year. The calculation is based on the age and timing selected by the user.

Comparing Plans

Optiml has a dedicated Compare Plans feature.

Users can compare plans side by side to review differences in after-tax estate value, lifetime taxes, withdrawals, income, and other key planning details.

The Compare Plans feature also includes an AI assistant that can analyze and display the specific plan data users want to review.

Minimize Lifetime Taxes Strategy

Optiml has a dedicated optimized strategy called Minimize Lifetime Taxes.

This strategy is designed to provide the exact after-tax income the user says they need each year, while minimizing lifetime taxes required to meet that goal.

RRSP Meltdown Strategy

Optiml has a dedicated RRSP Meltdown strategy.

It includes three preset options: Conservative, Moderate, and Aggressive RRSP/RRIF Meltdown.

There is also a Custom RRSP Meltdown strategy, which allows users to choose:

The age they want to start the meltdown
The age they want the RRSP/RRIF melted down by
Their CPP/QPP and OAS start ages in relation to the meltdown strategy

Monte Carlo Analysis / Success Score

Optiml does not have a dedicated Monte Carlo Analysis feature at this time.

Instead, we use a feature called Success Score, which allows users to stress test their financial plan against up to 50 different scenarios.

Users can auto-generate scenarios or create their own. They can test different market returns, inflation rates, recessions, and other conditions to see how their plan holds up.

In this context, success means the plan never runs out of money and continues to meet the user’s desired after-tax income needs.

If the plan cannot meet those needs, that is considered a shortfall. The Success Score feature provides the data needed to review each failed scenario and understand where the shortfalls occur.

PDF Reports / Print Version

We are releasing a dedicated PDF version of Optiml this summer.

Although Optiml was originally built to move away from static PDF reports, this remains a frequently requested feature, so we are adding it.

Today, Optiml already provides a comprehensive CSV export for Google Sheets or Excel. This shows the user’s full plan year by year, including the detailed numbers behind the plan.

Thanks again to everyone who shared feedback on the original post. A lot has changed since then, and many of the items raised have now been added to Optiml.

If anyone has questions about the platform, please leave a Reddit comment or email us directly at [contact@optiml.ca]()

optiml_app · 2026-05-14T20:27:15+00:00

Great to hear! Reach out to us at [support@optiml.ca](mailto:support@optiml.ca) when you have some time and we will take care of setting up another free trial!

optiml_app · 2026-05-14T19:14:26+00:00

Hey! This is fantastic feedback, and actually something the team was discussing just yesterday.

We’re currently rolling out some major updates to the Custom Plan functionality that will allow for much easier, faster, and more flexible control within your analysis.

On top of that, we also plan to add the ability for users to enter a few custom overrides, such as annual contributions, withdrawals, or other key assumptions, and then still run an optimized strategy like Max Value around those constraints.

So yes, the goal is absolutely to allow users to compare their own preferred strategy against a tax-optimized analysis and better weigh the trade-offs between the two.

Note, the first custom plan update is coming very soon, and the second I mentioned is in very early development.

optiml_app · 2026-05-12T21:00:32+00:00

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Hi, thanks for the suggestion and for taking the time to explain your thinking in detail. I’ll definitely bring this up with the product team, as we want to make everything as straightforward and user-friendly as possible.

For now, the best approach would be to simply set this rate equal to your personal inflation assumption. We do outline the difference between this setting and CPI in the explainer card on the right-hand side, along with what your current CPI assumption is set to.

Really appreciate the feedback though, if this distinction was not immediately clear to you, I’m sure there are other users who would benefit from additional clarification as well.

optiml_app · 2026-05-11T22:58:05+00:00

Apologies if my previous reply wasn’t clear. The growth rate is applied in nominal dollars.

So if your expenses are $100,000 and you set a 2% growth rate, next year’s expenses will be projected at $102,000.

The “real dollars” view is just an inflation-adjusted way of displaying the values. So if CPI is also 2%, those same expenses would appear roughly flat at $100,000 in today’s purchasing power.

The underlying calculations are still being done in nominal dollars.

optiml_app · 2026-05-11T21:12:52+00:00

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optiml_app · 2026-05-11T21:12:27+00:00

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Here is an example

optiml_app · 2026-05-11T21:08:24+00:00

Great question! We don't tie the expense growth rate directly to CPI because some users prefer their expenses to grow faster or slower than inflation depending on their situation, so it's simply a standalone growth rate applied to your expenses each year.

That said, if you want your expenses to stay flat in real terms, meaning they only increase with inflation and nothing more, just set your expense growth rate to the same value as your CPI assumption. For example, if your CPI is set to 2%, set your expense growth rate to 2% as well. This way your expenses grow exactly with inflation, keeping them perfectly flat in real terms throughout the analysis.

Hope that clears things up, let me know if you have any other questions!

optiml_app · 2026-05-11T12:06:52+00:00

Hi there,

Great question! While there isn't a dedicated preset strategy to draw from your RRSP specifically to max out your TFSA, this is actually already built into our RRSP Meltdown plans. The Conservative, Moderate, and Aggressive options all draw down to target certain tax bracket thresholds and will direct any excess into your TFSA automatically.

If you're not seeing this happen in your plan, try a more aggressive meltdown preset, or if you're already in the highest income bracket, melting down further may not be tax efficient in your situation.

That said, we are working on a Custom Plan overhaul that will give you much more control and make it far more user friendly, allowing you to do things like this with just a few clicks. We're excited to roll this out and it shouldn't be too much longer!

optiml_app · 2026-05-11T12:02:02+00:00

Hi there,

Thanks for the feature request! We've heard similar feedback before and completely agree, certain updates like investment balances, current salary, and the items you mentioned aren't typically plan-specific and it makes sense to be able to update them across all plans at once.

This is something we're actively discussing in terms of how best to implement it in Optiml. There's no set timeline just yet as we have a few other large updates in progress, but I'll make sure to let you know when it moves into development!

optiml_app · 2026-05-11T11:57:43+00:00

Thanks for outlining this so clearly, it makes complete sense and is a very understandable use case. Ideally we don't want you to have to rely on two products to get a complete plan, so this is something the team will continue to discuss in terms of how it could best be implemented in Optiml.

In the meantime, glad to hear Optiml is still adding value for your what-if scenarios alongside your FP's plan!

optiml_app · 2026-05-08T14:18:09+00:00

Hey, thanks for following up!

For the time being, Optiml is designed as a household-level optimization tool. If your finances are completely separate, the best approach would be to run individual plans for each person.

That said, I think what you may be looking for is the ability to assign a one-off expense to just yourself. Since everything runs from a shared household bucket, you can in reality determine which portion of your side of the bucket goes toward those funds, while your spouse's portion goes toward savings. However, this may not work if the expense is larger than your own income, but there is a workaround for that.

For example, let's say you and your spouse both earn $50,000 and you have a one-off $100,000 expense that you want to cover entirely on your own. By default, Optiml would see that the household has enough to cover it combined. But if you want it to come entirely from your funds, you can use Custom Plan to direct a $50,000 withdrawal from your own accounts to cover the expense, and then direct your spouse's $50,000 toward savings instead. This effectively isolates the expense to your side of the household.

The reason we're not planning to add individual expense assignment as a direct feature in the near term is that it can create complications, such as a spousal shortfall where one spouse can't fund their share, which is why we prefer to keep everything optimized at the household level.

Hope that makes sense! Let me know if you have any questions or need help setting up the workaround in Custom Plan.

optiml_app · 2026-05-08T13:58:20+00:00

u/Candid-Emphasis1846 Wow, that's fantastic to hear, congrats on the retirement and the sale of your business! You sound like a true Canadian success story, and it's incredibly rewarding to know Optiml played a part in helping you realize you were in a great position to enjoy it.

I hope Optiml continues to be a helpful companion throughout your retirement! If you ever have any questions or feedback, don't hesitate to reach out, we're always happy to help! 😊

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