r/adviice

Hello, I just recently purchased a subscription to Adviice. I ran into a snag with the LIF. After completing the setup of my retirement plan, when looking at the LIF, it's not activated for withdrawals. I noticed during the discovery setup that the account type is labelled LIRA/LIF ( a LIF is active once the LIRA has been unlocked), which is my case. Anyway, in the planning stage, when trying to override & set up the correct withdrawal based on age, in my case, I want to choose the MAX withdrawal; there is no option?

Any insights are greatly appreciated, thanks

I'm just getting started with Adviice and am running into some issues with our investments.

• How do I handle after tax RRSP/FHSA contributions and the related tax refunds etc.? Is there a way to decide how the refund is being used, for example? We don't always reinvest the full refund.
• How do I set up a "hybrid" workplace pension? I basically get the greater of my DCPP-style investment account or the DBPP-style minimum guaranteed income. I'm trying accurately capture pre-tax employer and employee contributions as well as the pension adjustment on my T4/NOA in Adviice and there isn't a clear way to do it. I'd also like to include the investment account's value and growth over time as this is significantly larger than the guaranteed income and can be transferred to a LIRA if I change employers/when I retire (i.e., I'm basically thinking of it as a DCPP and not a hybrid).

My numbers seem off and I think its partly because of those two issues.

To the Adviice user community:

I have to decide really soon whether to follow the spirit or the letter of the Adviice plan which shows me decumulating one RRSP starting in 2027.

I started to input data in the Tracking part but I need more time to track expenses in this year in an Excel file that fits the data input fields in Adviice.

For those who are sticking to their Adviice plans, especially those who've been doing this for a few years, how are you doing, what's your experience, and what are your results?

TIA.

I am trying different scenarios for decumulation and have a question. If I use the AI strategy to fill up the $86,123 bracket, then my forecast shows me having a small shortfall for each of the first 5 years ($330). If I choose the next option in AI strategies ($95,323) then there is no shortfall but the platform shows a success rate and after-tax estate that is a bit lower. Is there a way to easily model a decumulation number that is somewhere between the two AI strategies? In my case $88k should presumably get rid of the shortfall but I don't know how to model that easily.

Hello Adviice,

I retired May 1st at age 55 and spouse to retire Apr 2027 at age 60. Would love a review and any comments regarding our plan I created. e My one point of confusion is the AI strategies want us to convert to RR IF at ages later than our retirement age but since we are with Questrade we would be charged $50/withdrawal if remains as RRSP. Is it not better to avoid these withdrawal fees?

https://public.adviice.com/dashboard/60d-EkpmKivIxxA5

Thank you to everyone in advance! Love being able to keep our plan up to date and adjust spending if needed from year to year.

My understanding is that I use the new vehicle calculated estimate to create a 'set aside' in my annual transportation expenses plan every year to cover new vehicle purchases. This amount is what I should be setting aside for new vehicle purchases. What do I do in the year I buy the vehicle - for simplicity lets assume I pay cash. Do I put the entire amount of the vehicle purchase as a 1 time expense in 2026 if I am buying it now? I agree with another poster that we need clearer demarcation for calculated amounts vs what is actually in our expense plan. Thank you,

Cant figure out why my pension amount showing in the planning>summary sankey chart for the 2027 year doesn't match the amount showing in my pension amount for that year in the table below the chart. The amounts are correct for 2028 and 2029.

I am in the early stages of retirement planning, and wondering what are key data that i need to gather prior to facilitate entering the data in the adviice platfrom. I have a RRSP, LIRA, CCPC, TFSA, Non Reg. Wife has RRSP, spousal RRSP, RDSP, TFSA, Non Reg. we also have Bank Accounts and Joint Bank Accounts. Other than balances of each of these accounts what other info is needed?

TIA. Excited to see what the platform says.

When both the Enable Income Splitting (RIF/LIF... and Enable contributions to lower income partners Non-Reg... are active, we could have a situation where the split income is not needed for spending and could potentially be contributed NR account in the lower income partner's name. Does the platform consider the split amount to be part of the lower income partner's income for attribution purposes, and thus subsequent income earned on those invested funds be legitimately reported to CRA by the lower income partner? Since CRA attributes income on investments from funds gifted from a partner back to the giver (source of funds), does CRA consider pension split income as 'gifted' funds? I think there is an exemption for CPP pension shared funds, but I haven't found such an exemption for split pension amounts and knowing whether Adviice includes such a split amount to the lower income partner's total available for contribution to NR would be helpful. Any insight appreciated. Apology: I don't know how to add a flair.

Is there a way to be able to split your RRSP/TFSA totals if you have assets held at multiple service providers? It looks like there is only one total amount that gets reported, but is there a way to split out the balances so that when you begin your withdrawals you get a breakdown of how much to withdraw from each RRSP/TFSA/institution?

This scenario reflects that I retire at the end of this year. I am comparing this with another scenario where I continue to work 2 days per week for 2 more years as a safety net against sequence-of-return risk or continued higher inflation. Am I correct to interpret the platform's projection that I have good confidence that I could retire this year given the 100% success rate, 188% funded and after tax estate of 3.4M?

Thanks for your anticipated feedback.

https://public.adviice.com/dashboard/72h-xB5DRxkcE445

My understanding is that OAS maximum amounts (i.e. if you are over age 75 and waited until age 70 to start collecting) cannot exceed, in today's dollars, around $13 500 per year. The Adviice platform though shows OAS amounts, in today's dollars, which go up to $16 000. Could this be an error ? Thank you.

Hi folks. My spouse will have a DB plan in education and I am in the private sector. We have very different amounts in accounts and I am concerned that we will have a tax challenge once retired. I’d like to invest in a tool/SaaS that can help me know when do use something like spousal RRSP and things so we don’t end up in a disadvantaged situation when we have to start drawing. Do you think the platform could help give me these kinds of insights?

Many thanks

Hi Everyone,

Some of you may have already noticed that we've added some new features and improvements to the platform this morning.

This may require a page refresh.

You'll find a summary of all the changes below. As always, we've done a lot of testing but please let us know if you notice anything.

Thank you for all your feature requests and feedback!

Thank you!

Adviice Support Team

Real Asset Appreciation Rate

• You can now set a specific appreciation rate for real assets. This can be done globally or for specific assets. By default, existing accounts will have "Inflation" as the default (the original assumption), but new accounts will use the new FP Canada "Real Estate Appreciation Rate" of 3.1% as the default.
• A word of caution: Because real estate assets are often high value, even a small difference in appreciation rate versus inflation can lead to a large change over a 30-50 year projection.
• Global Setting: In Discovery > Assets you can change the global real estate appreciation rate across all real assets. You can choose either Inflation Rate 2.1%, Real Estate Appreciation Rate 3.1%, or Custom Rate. If you choose Custom Rate you can enter either a negative or positive rate.

https://preview.redd.it/38zqig0vte9h1.png?width=1514&format=png&auto=webp&s=2c8e9530e6a50b976ce3804033e6ed9e5f9dd261

• Asset by Asset Setting: In Planning > Projections > Advanced Options you can also change the real estate appreciation rate asset by asset.

https://preview.redd.it/kifjhm2wte9h1.png?width=1796&format=png&auto=webp&s=cf0a5e748cc51d150cb2e15a207e3d870c3d1160

• Warning Message: If the real estate appreciation rate is set above a certain threshold a warning message will appear highlighting the long-term impact of that aggressive assumption.

DCPP/LIRA/LIF Jurisdiction

• You can now set the DCPP/LIRA/LIF Jurisdiction on an account by account basis in Planning > Projections > Advanced Options

https://preview.redd.it/i6mqo9rtte9h1.png?width=1464&format=png&auto=webp&s=c21d01e1e78b2d42e0c86b3d21f36ef3280bf5c5

Legend in Projections Charts & Future Cash Flow Charts

• The chart legend will now only show categories that have information in the chart. Categories with zero info will be hidden in the legend to make it easier to read.

Small Improvements

• Completion % Updated: There was a gap in the completion % logic for some rental property owners which previously resulted in a "17% missing info" message. This is now corrected. Thank you to the users who pointed this out.

​

Hi. Can I move $20k from tfsa investment to tfsa savings mid year or this should only be done at the beginning of the year? Thanks!

Similar question to: https://www.reddit.com/r/adviice/comments/1pfsy3g/inconsistent_success_rates/

I've been noticing some oddness myself with success rates, and similar to that linked post, I put it down to user error on my part.

However, I've got a situation where I was 100% sure of the changes I made, then rolled back, and success rate did not return to where it was before. I then verified this behavior across multiple of my saved scenarios:

Scenario with survivor age of both my spouse and I at 100. Verify "Projections" page shows "Up To Date". Click it anyway, just to be sure. Refresh page, etc. Verify success rate (in my case, 99%).

Go into "Advanced Options", change my Life Expectancy to 70. Save, and Recalculate. Success rate drops to some new amount (77% in my case).

Go back into "Advanced Options", change my Life Expectancy back to 100. Save, and Recalculate. Success rate does not return to original amount. In my case, it went up to 93%, not back to the original 99%.

I've done this now on several scenarios, just to verify this happens. Change a single item (life expectancy in "Advanced options"), recalculate, change it back to original number, recalculate, and I don't end up back at my original "success rate".

Can changing the Life Expectancy in Advanced Options change some other settings that then don't get set back when putting the life expectancy back to it's original value? Or is this a bug?

And just to re-iterate, I've verified on several unlocked scenarios that just changing one value, life expectancy, recalculating, then changing it back to it's original value, and recalculating again, does not return me to my original success rate. I'm always 3% to 6% lower.

Any help appreciated.

Hi. The yearly withdrawal from my rrsp in the summary table I assume this is before tax? Thanks!

My base plan is to retire at 55 with a DB pension. How do I model a scenario where I get laid off at 50 and have to take a reduced DB pension? I don’t think I want to change this in Discovery or else it will change my base plan. Do I need to use overrides in the table and if so, which columns am I overriding to show loss of employment income 5 years earlier and a reduced DB pension? Thanks!

1. If we have our plan spending pegged at say $100k year but don't do the extra activities and only spend $90k for the year, would we only withdraw from our accounts $90k to meet the actual spending and leave the unspent $10k in the respective investment accts?

2. When does one execute the withdrawals form the individual investment accts to fund the spending? Do we do this on a monthly basis?...quarterly?....or as the expenses are incurred?

3. If withdrawals are made at various times throughout the calendar year, how do we know the order of operations or priority as to which type of acct to withdraw from first or second etc?

Thanks

I have not included any contributions to my spouses registered accounts in the expense section. However, I'm showing large (nearly %50 of income) deposits in those accounts starting this year (still working years). Why is this happening and how do I turn it off. My public dashboard https://public.adviice.com/dashboard/48h-DWlRdl1UweOR