RetireWare Features and Benefits

Detailed product features

More Product Information

User Interface

Menus, Toolbars and Listbar provide easy access to all information
Comprehensive context-sensitive help
Easy-to-use Wizards help you complete all required information
Asset Allocation Graphs displaying asset allocation for registered and non-registered assets
Budget and Net Worth Statement shows information graphically and in table format
Data Summary for a convenient list of all data entries and selections at a glance, with a direct link to all data windows

Wizards

RetireWare is powerful and sophisticated, yet it is very easy-to-use with its intuitive user interface and Wizards. With the Quick Calculation Wizard, you can plan your retirement in a few minutes. Then, you can do a more detailed analysis by using the other wizards and dozens of special features.

Quick Calculation for a quick assessment of retirement situation
Budget showing all types of income, expenses by category, retirement, education and other savings, pension contributions
Net Worth showing all assets and liabilities
Asset Allocation (including Risk Profile Questionnaire)
Step-by-Step Retirement to include all types of assets and future income
Each Wizard comes with a printable PDF "cheat sheet"

Combine Spouse Information

Individual calculations for each spouse, then combine each of your files for an integrated calculation for both spouses.

Savings Plan

Formulate savings plan and specify split between registered and non-registered
Specify an increase to annual savings in percentage or dollar amount

Retirement Income Objective

Formulate your retirement income objectives in a variety of ways:

Percentage of pre-retirement earnings
Based on expenses
Based on a dollar amount
In terms in gross or net earnings
Starting at a retirement age or date
With or without annual cost-of-living increases
Based on your own life expectancy selection or from statistics
Plan for large one-time or periodic expenses
Increase or decrease future retirement income objective at a later age

Economic Forecast

Use RetireWare’s forecast, historical rates or your own selections
Separate rates for five asset classes, salary, dividend, inflation and real estate
Specify fixed income earnings allocation between appreciation and interest
Specify percentage of equity capital gains realized annually

Financial Information

Non-registered market value and adjusted cost base for five asset classes
Personal residence value and mortgage remaining
Life insurance available to survivors
Equity in other property, business ownership
Apply special capital gains exemption for small business
Include other future assets, cash value of life insurance policy, a future inheritance or retiring allowance

Registered Investments

Registered assets for five asset classes
Choose to receive registered withdrawals from RRIF or annuity
Direct your contributions to a spousal RRSP
Take into account unused RRSP contributions and pension adjustments
Locked-in assets for five asset classes
Choose to receive withdrawals from locked-in funds from a LIF, LRIF, annuity
Select pension jurisdiction for province-specific LIRA, LIF and LRIF rules

Income

Employment and self-employment earnings
Rental and dividend income
Pension or annuity income
Prescribed annuity with deductible capital element
Income form non-registered assets, registered, locked-in
Pensions from defined benefit plans
Income from defined contribution pension plan, group RRSP, deferred profit sharing plan

Budget and Net Worth

All types of income
Expenses by category (8 categories, 46 separate items)
Retirement, education and other savings
Pension contributions
Loan and debt payment
Budget and Net Worth Statement shows information graphically and in table format
Net Worth has categories for non-retirement assets and personal belongings

Government Pensions

Canada Pension Plan
Québec Pension Plan
Canada (or Québec) Pension Plan early retirement
Old Age Security (takes OAS clawback into account)
Guaranteed Income Supplement

Defined Benefit Pension Plans

Accepts accrued lifetime pension and bridge pensions
Projects future pension accruals based on accrued pension and years of service
Pre-retirement and post-retirement cost-of-living adjustments
Early retirement reductions based on percentage or actuarial reduction
Special entitlement age for an unreduced pension
Pension death benefits as a joint and survivor or guarantee periods
Final or career average earnings formulae

Other Types of Company Pension Arrangements

Built-in support for custom pension plan add-ins
Defined contribution pension plan
Group registered retirement savings plan (RRSP)
Deferred profit sharing plan (DPSP)
Specify employee and employer contribution formulae
Pension assets for five asset classes

Sources of Income

Select sources of income, non-selected items accumulate and are available to spouse or estate Specify additional temporary income during retirement such as part-time employment
Select to receive investment earnings only, or investment earnings and capital from non-registered assets
Select to start registered withdrawals at retirement or defer as late as possible
Base RRIF minimum withdrawals on the age of a younger spouse

Asset Allocation

Risk profile questionnaire
Asset Allocation Graphs displaying asset allocation for registered and non-registered assets
Deviation from target asset allocation
Rates of returns for projections based on asset allocation profile or custom asset allocation
Specify separate asset allocations for before and after retirement, registered and non-registered

Income Tax Calculation Options

Province-specific tax calculations
Specify capital loss to offset against future capital gains
Small business capital gains exemption
CPP employee and employer contributions
Employment insurance contributions
All existing and scheduled federal and provincial tax rates and scheduled indexation of tax brackets
Provincial surtaxes where applicable
Federal and provincial non-refundable tax credits
RRSP deduction rules, pension adjustments and deductible pension contributions