PREFERENCES

This page shows you how many free runs of the TIME MACHINE you have left or when your subscription expires.

The page also has a button to completely delete your account and all its data if you are on the free trial and do not wish to continue working with the MoneyReady App. Once you account is deleted you can re-register and start over from scratch. If you have a paid subscription, a delete feature will only be available at renewal time.

You can change your email address here. If you change it, you will need to confirm the new email by clicking the link in the email you will receive, just as when you first registered. Your old email address will also get notified about this change, for security reasons.

To make your account more secure you can (and should) add two-factor authentication. You can use an authenticator app on your smartphone to secure your MoneyReady App account. There are many free authenticator apps available for Android and iOS. This method of two-factor authentication (2FA) is highly private and secure as it does not require us to have your phone number. You scan the QR code generated by the MoneyReady App to tie your account to your authenticator app. The authenticator app will then automatically generates a code that changes every 30 seconds. It acts as a second temporary password. You will be prompted for the current code to subsequently log in to your MoneyReady App account.

The MoneyReady App offers views of inputs and results in today's dollars and in future dollars. Future dollar values refer to the actual amounts at whatever date in the future. Today's dollar values are those same amounts but discounted for inflation from the future date to today. For example something costing $1,000 today will cost $1,050 a year from now if inflation is 5%. You can set the preference for the default TIME MACHINE results view to today's or future dollars. This will show that view for any new runs. You can always go to the other view using the button below the table, and that new setting will be remembered for showing that run if you later come back to it (this also works that way for saved runs.)

You can also set the default display of negative amounts. The default is with a minus sign, but you can now display them with parentheses, or in red, or both. A minus sign should still always be used when entering a negative amount.

Alternative Minimum Tax. The AMT is a separate tax calculation done to make sure that wealthy Canadians that have little or no regular tax to pay due to claimed tax deductions and credits, still have to pay a minimum tax. This has always applied rarely, and it will be even more rarely applicable with the recent changes to the AMT calculation itself and the announced changes to the capital-gains inclusion rate. Additionally, any minimum tax paid can be carried-over 7 years so that it can mostly refunded in those years where no minimum tax is payable. If you are concerned about the AMT being applicable, or if you have paid minimum tax in the past 7 years, then you should check the box to have the Alternative Minimum Tax calculations done in TIME MACHINE. For most people there is no point in checking it as it will only slow the TIME MACHINE down with a needless calculation. Regardless of whether it is checked, a paid MoneyRead subscription is required for the calculations to be applied.

For Advisors this option is not visible here as it is always set to be on: the AMT calculation will always be done for all their clients and on their own subscribed account.