Hello,

I am reading Fred Vettese - Retirement Income For Life. One of the chapters in his book covers spending/expenses as retirees age. The summary of numerous studies indicates that " spending of most seniors keeps up with inflation until age 70, and then after that it will fall at the rate of 1% a year throughout the 70's, and 2% a year in the 80's, and 0% from age 90 on". This falls in line with my own thinking, and what I have observed as my my parents and in-laws aged.

I currently have my expenses set to decrease by 10% at age 75 which I guess provides me with the total expected expense reduction in my 70's, albeit all in one year. But reducing each year would provide a much smoother transition over the 10 year period and beyond. I know I could manually create expenses for each year in my 70's and 80's with the reduced targets. However, I was wondering if there was any way you could implement this kind of automatic reduction in expenses with the programming?  Perhaps allowing us to select the age it starts at and the amount per year to decrease spending?

Thanks

Hi,

I have some money (One time deposit) coming in next year (severence) that will be taxable, but it wont be considered "earned income" by Revenue Canada and therefore will not count towards CCP/EI or RRSP contribution room.

How do I mark this in MRA as taxable, but non earned income? I have it set to Other Income, but MRA seems to still be calculating elligble RRSP room based on it for the following year.

I found this in an old post " 4. Other Income.    Other Income has been expanded to allow different tax treatments to allow income from trusts, companies you don't own, and other scenarios. It now allows non-taxable income, regular income (not earned), eligible dividends, non-eligible dividends and capital gains." but I see no option to tag it as "regualr income (non earned) in MRA.

Thanks