Actions6
Plan → Calculate Specific Spend
AI-generatedSummary
Calculate the sustainability of a retirement plan based on a specified after-tax target monthly spend, using detailed inputs for one or two individuals' ages, retirement parameters, financial balances, and additional financial options.
Inputs
- targetMonthlySpend (required) — Monthly after-tax spending amount to sustain
- scenarioType (required) — Defines if the plan is for an individual or couple
- Person 1 - Name (required) — Name identifier for person 1
- Person 1 - Current Age (required) — Current age of person 1
- Person 1 - Retirement Age (required) — Age at which person 1 retires
- Person 1 - Death Age (required) — Expected death age of person 1
- Person 1 - RRSP Balance (required) — Registered Retirement Savings Plan balance for person 1
- Person 1 - TFSA Balance (required) — Tax-Free Savings Account balance for person 1
- Person 1 - Non-Registered Balance (required) — Non-registered investment balance for person 1
- Person 1 - Non-Registered Cost Basis (ACB) — Adjusted cost basis for person 1's non-registered account; leave 0 for default (90% of balance)
- Person 2 - Name — Name identifier for person 2 (couple scenario only)
- Person 2 - Current Age — Current age of person 2 (couple scenario only)
- Person 2 - Retirement Age — Retirement age of person 2 (couple scenario only)
- Person 2 - Death Age — Expected death age of person 2 (couple scenario only)
- Person 2 - RRSP Balance — RRSP balance for person 2 (couple scenario only)
- Person 2 - TFSA Balance — TFSA balance for person 2 (couple scenario only)
- Person 2 - Non-Registered Balance — Non-registered investment balance for person 2 (couple scenario only)
- Person 2 - Non-Registered Cost Basis (ACB) — Adjusted cost basis for person 2's non-registered account; leave 0 for default (90% of balance) (couple scenario only)
- Province (required) — Province of residence impacting tax and benefit calculations (Ontario, BC, Alberta, Quebec)
- Additional Options — Various optional financial and simulation parameters including expected returns, inflation, expense allocation, TFSA room, GIS calculation, income splitting, survivor expenses, and Monte Carlo-specific belt-tightening logic
- Person 1 - Additional Fields — Customizable financial details for person 1 including annual contributions, base CPP/OAS amounts and start ages, conversion ages, RRSP meltdown, dividend yields, and contribution rooms
- Person 2 - Additional Fields — Analogous detailed financial inputs for person 2 (couple scenario only)
- Person 1 - DB Pension — Defined benefit pension settings for person 1, including income, indexing, survivor benefits, and guarantee periods
- Person 2 - DB Pension — Defined benefit pension parameters for person 2 (couple scenario only)
- Person 1 - Withdrawal Weights — Percentage weights dictating the initial withdrawal split from different accounts for person 1
- Person 1 - Fallback Order — The fallback order for withdrawals from RRSP/RRIF, TFSA, and non-registered accounts for person 1
- Person 2 - Withdrawal Weights — Percentage weights for initial withdrawals from various accounts for person 2 (couple scenario only)
- Person 2 - Fallback Order — Fallback withdrawal order for person 2 (couple scenario only)
Output shape
a single JSON object representing the retirement plan calculation result returned from the NowCapital API
The output includes detailed projections and status about the sustainability of the specific target monthly spend based on the provided scenario inputs. Use output data to assess the viability of the retirement plan under given assumptions.