I definitely fall into the overthinker category, and I have an affinity for details. Both served me well in my career as a Solutions Architect/Project Manager, however I also learned one must also have the ability to adjust and adapt on the fly, as we cannot account for every possible scenario.

So I am reminded that is important to have a solid base plan in place, but also important to not get too caught up in the weeds as the plan unfolds.

I do appreciate all your feedback and explanations!

Thanks

Dan

So I forced the withdrawel of 4 months of expenses proior to receving the inheritance, however, when I run the TM and Optimziation, MRA created a "Gifts" expense in the same year which equals the amount withdrawn. Of course, I would rather have that re-directed into one of our accounts. I guess the net of all this, is that it is probably okay just to leave it as it originally was, and then adjust on the fly, as obviosyly we have no idea when and the exact amount of the inheritance.

Interesting. If I add a withdrawal (or 4) for the first 4 months of 2027, will force the time machine to factor that in?

Hello

I have an inheritance included in incomes as a non-taxable income. I arbitrarialy picked a date of May 1, 2027.

After running the time machine and optimizations, when I look at 2027, the sources of income only include the inheritance and no withdrawels or income from any other accounts.

Would it not be correct for the time maching to calculate the first 4 months of the year to have income and/or withdrawels from my other sources?

My work around is to add individual expenses, with mine being 85% of the total and my wifes beign 15%, then in the modeling, the overall expesnses are reduced when she passes.

(Putting this in words is unsettling, but this is the reality of our lifes!)

I am working on modling expected outcomes when one partner passes before the other.

I know that expenses do not halve when a partner passes, but realistically only decrease by ~15%

Is there currently any way that MRA can automatically account for that in its modeling?

Got it, thanks for your patience and help

FYI, after further reading, it appears that CPP and OAS do not qualify for the pension income amount tax credit of $2000 so we will still need to convert or partially convert LIRAs or RRSPs at 65.

MRA has automatically partially converted my LIRA, but I dont see anything for my wife. From a tax persecptive, would it not be best that we both have this tax credit? (I assumes MRA willapply the pension amount tax credit of $2000 when calculating taxes that are due/paid each year?)

MRA has me partially converting my LIRA when I am 66, but wouldnt I want to do that when I am 65?

Understood, and thanks for your quick response.

Hello,

I have my LIRA account set to be converted at 71 in the settings for that account.

I also have CPP and OAS to start at age 65 so I will get pension income that year for my wife and my self. (Enabling pension splitting and pension amount tax credit)

When I run the basic time machine, the output has partial conversion of the LIRA at age 65. I cant seem to find a way to have MRA delay that until 71. Am I missing something?

Thank you, I think having Crypto and Prefered Share added as asset classes is a great idea

Thank you for your detailed response. I was able clean up and properly allocate my asset allocation ETFs.

I have 2 Crypto ETFs that I am having similar issues with. (BTCC.B and ETHX.B). They are currently tagged as "Canada Other" for allocation type, and when I edit the ETF, Crypto is not an option. How can I get these listed as Crypto?

For reference, my seperate crypto accouint that holds actual crypto is all properly tagged as Canadian Crypto for Allocation Type.

Thanks

Hello,

I hold a couple of different asset allocation ETFs (VGRO and VBAL). I am trying to figure out how or if I can get the proper asset allocations in the app.For VBAL, I have it currently showing like this: Global Equities 60%, Global Fixed Income 40%. (which is technically correct but only on a high level)

What I would like to be able to input is the complete breakdown of this fund: IE US Equities 28%, CND Equities 18%, Global Equities 11%, Emerging EQ4% CND Bonds 23%, US Bonds 8%, Global Bonds 8%

Is this possible? Am I missing something?

Thanks

Dan

I have recently been experiementing with the monte carlo simulations which has been very informative.

I kept adjusting my expenses so that in my basic withdrawel scheme, I had very low chance of running out of money (or at least that is what I beleive these charts from the simulation results are telling me). In the net worth exluding properties chart. The median line is always above zero, and the dark blue are just touches the zero line just before the final year (93).

So then I run Legacy with a goal of zero, (which creates a large legacy expense) and then I run another similation on those results. These results appear to indicate that I will have a few high likelyhood of running out of money well before my last year (93). In the networth excluding properties chart, the median line cross below zero around 73, and the scenario line crosses below zero around 86. The wallet balance median line is also below zero around 73, and the scenario line goes below zero around 83. 

Is this the correct interpretation of these results?

Would it be possible to create a Time Machine option where you could choose your legacy but also run the simulation to ensure you are maximizing the withdrawels, but also hitting (at least) the median in the simulation?

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