Hi.
I have a retirement target projection with 96% success rate and plan funded 145%.
I have tried some stress test scenario: less return, life expectancy and retirement spending, all of them at least with success rate >= 85% and plan funded >= 100%.
What else should I try as stress test or take into consideration before making the final decision?
Thank you !!
I have not update the CPP contributions in Adviice in the last two years. When I check now in Service Canada I see that there some amounts in the column "Second additional portion". Should I add the amounts in "First additional portion" and "Second additional portion" and enter the sum in Adviice?
Also, when I entered the 2024 and 2025 contributions, I saw an increase in success and plan funded in the retirement target date projection? Is that what is expected?
On another note, when I take the amount that My service Canada says I will be receiving at 65 and multiply by 12, it differs from the one I see calculated in Adviice for age 65 (CPP & OAS Estimate, in about $800.00. What could be the reason? Which one is then closer to the one I will actually receive?
Thank you !!
Hi
The projection is skiping pension calculation at 65.
Both my wife and I have small foreign pension and my wife a Canadian pension.
The Foreign pension start at 63 and the Canadian pension at 65.
All were entered in Adviice as pensions.
In the projection, the software calculates the foreign pensions at 63, 64 and from 66 on. But does not calculate any pension at 65 at all.
What could be the reason?
Thank you.
Hi
I was wondering how one can project the reduction for Slow-Go and No-go from based off the Go-Go year?
What the experience says or is there any pattern or common way determine what percentage less?
Would it be around 10%-15% less down the ladder?
Thank you.
Hi
I think that for a quick visualization, same way that you show the % success rate, if you show the % plan funded associated with each strategy if selected, could be useful.
Thank you.
Hi
When are you going to allow to model scenarios with different inflation rate?
Regards,
Hi
I was reading that success score in a Monte Carlo simulation between 85% and 95%, combined with a % plan funded >= 110% represents a confortable, robust and safe retirement financial plan.
Is that the same criteria one would use in evaluating the results from Adviice?
Thank you.
Hi
I am finding some weird results.
Me and my wife have high percentage of cash sitting in non-reg account. I was changing the cash return from 3.5% to 5% just to see the effect, and then the plan funded % is higher but the success is less. and as extreme case, just to see the effect, I changed the non-reg return from 3.5 to 10%, and I get something like success 44% and plan funded 189%. I cannot explain this very counter intuitive result.
I also override the non-reg allocation to Husband: 70% cash, 0% fix and 30% stock, wife 65% cash, 5% fixed, 30% stock.
Can you help me understand this? It really does not make sense to me.
Thank you.
THe software is offering the strategy "RRSP Contributions between X's age 64 and 71" to increase success percentage.
X is retired. Husband will retire at 62.
Why does the software assume that there will be room in RRSP for more contribution? RRSP room left for this year is just 2k.
Also, X is retired and does not have room for RRSP contribution.
Could you explain this strategy and why it is applicable?
Thanks.
Hi
When are you going to implement the feature where I can have more than one pension without using the workaround of making changes in the projection table? Also with survival benefits.
Thanks.
Hi
I was wondering if there was a way to quickly model reduction in spending.
For example, something like a generic parameter that I can set to "Reduction in spending = 30%", and then when I select life expectancy, the paremeter will be use for the calculation.
Thanks.
Hi
Maybe is a conceptual confussion, but how is it that in one projection I can have 95% success rate and still have 350k at the end of projection in financial asset (TFSA mainly) which I think is a good amount.
Should the system targe to get 100% even financial assets end up being less? Or is there a strategy for that?
As I said, maybe there is something I am not understanding or I have to play with the spending strategies which I tried, but is not the same, I think.
Thanks