Dear MoneyReady App users,

Some months ago, I received this comment from a user:
“ I am hoping to find ways to use this app to find the ultimate solution - how to plan for withdrawals to reach the objectives (for me, it'd be tax minimization). “

It is a very difficult problem to solve theoretically, but with the MoneyReadyApp and the TIME MACHINE, you can find a good solution for your specific situation by trial and error, such as by changing your WITHDRAWAL PRIORITIES and AUTOMATIC WITHDRAWALS. It is often an educational exercise for you to do, if a bit tedious, but how do you know if the result is an optimal solution, and could we find an optimal solution automatically for you?

Today I am excited to announce our new WITHDRAWAL OPTIMIZER. This new tool allows you to determine if your set withdrawal strategy after retirement is near-optimal, and if not, will suggest an alternative strategy that is. To do that, we developed an algorithm based on recent academic research in financial planning. How it works is too long to explain in an email, so I wrote a blog post that you can find at https://www.moneyreadyapp.ca/blog/post/8 that explains it in detail (it’s also in a new section of the ebook).

You will find the WITHDRAWAL OPTIMIZER button below the TIME TABLE after you have run the TIME MACHINE (you will need a fresh run). The WITHDRAWAL OPTIMIZER requires a paid subscription; so with its launch, I am also winding down the app's free availability we set up in March to help Canadians weather the impact of COVID-19 on their finances. But don't worry, all of our users who have paid or contributed to the app will be able to try the WITHDRAWAL OPTIMIZER at no additional cost as we are extending subscriptions.

For those of you who previously had a subscription, these have been extended by at least another month. Subscriptions have also been given to those of you who contributed. You have our warmest thanks. For those of you who contributed $50 or less, these will expire at the end of 2020. For those who contributed more, they will expire later, depending on the size of the contribution. All subscriptions ending in 2020 and 2021 will be renewable for a year for $100 (plus taxes) if renewed within a month after expiring. After that month, we will not delete your data, but you will need to get a new year-long subscription for $150 (plus taxes).

For those of you still on the free trial, your count of TIME MACHINE runs has been reset to zero, so you will still have 3 free runs, no matter how many you ran previously. To subscribe and use our premium tools, you can get a month's trial subscription for $50 (plus taxes) which you will be able to extend to a year for $100 if you do so within a month after the subscription's expiry.

Remember that you can also get free months added to your valid subscription with our referral program (details are in our FAQs).

Subscriptions are our only source of income and are required to keep the app running. Thank you for your support as we continue to bring all Canadians the most comprehensive, accurate, and smartest financial planning app.

Your feedback is always welcome.

Elisabeth Tillier, Ph.D.