The MoneyReady Forum
Member
avatar
Joined:
Posts: 0

Hi,

I have a CCPC in which all the retained earnings are invested - there is no active income. I want to draw this down as dividend income in retirement. What is required to set this up as when I run the time machine - this account seems to be ignored.

Administrator
avatar
Joined:
Posts: 234
Enter the dividend income you want as an INCOME, make sure to enter the amount that you want.
Select from the  Income source the type of dividend you want your from CCPC.
Non-eligible dividends are your best bet from a CCPC, the others require a balance in the notional accounts. See the Help page on the TIME MACHINE pre-flight screen for the CCPC or the eBook about the CCPC notional accounts for more explanation.
Depending on the dividend type you entered, and the balance of the notional accounts, the balance of the investment account,  any entered REVENUES, the TIME MACHINE  will pay what it can.
You’ll see a Warning in the results if it can’t pay it out what was asked for.