Actions6
Plan → Calculate Sustainable Spend
AI-generatedSummary
Calculate the maximum sustainable monthly spending for an individual or couple's retirement plan based on detailed financial and demographic inputs.
Inputs
- Scenario Type (required) — Select between 'individual' or 'couple' to specify who the plan applies to.
- Person 1 - Name (required) — Name of the first individual in the scenario.
- Person 1 - Current Age (required) — Current age of Person 1.
- Person 1 - Retirement Age (required) — Retirement age of Person 1.
- Person 1 - Death Age (required) — Expected age of death for 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) — Cost basis of non-registered investments; leave 0 to use default (90% of balance).
- Person 1 - Additional Fields — Optional detailed inputs such as contribution amounts, pension start ages, pension types, and other specific financial parameters.
- Person 1 - DB Pension — Defined benefit pension details for Person 1 including annual income and indexing options.
- Person 1 - Withdrawal Weights — Percentages indicating initial withdrawal distribution among RRSP, TFSA, and Non-Registered accounts.
- Person 1 - Fallback Order — Custom fallback order for drawing withdrawals from accounts.
- Person 2 - Name (required) — Name of the second individual; shown when scenario type is 'couple'.
- Person 2 - Current Age (required) — Current age of Person 2; shown when scenario type is 'couple'.
- Person 2 - Retirement Age (required) — Retirement age of Person 2; shown when scenario type is 'couple'.
- Person 2 - Death Age (required) — Expected age of death for Person 2; shown when scenario type is 'couple'.
- Person 2 - RRSP Balance (required) — Registered Retirement Savings Plan balance for Person 2; shown when scenario type is 'couple'.
- Person 2 - TFSA Balance (required) — Tax-Free Savings Account balance for Person 2; shown when scenario type is 'couple'.
- Person 2 - Non-Registered Balance (required) — Non-registered investment balance for Person 2; shown when scenario type is 'couple'.
- Person 2 - Non-Registered Cost Basis (ACB) — Cost basis of non-registered investments for Person 2; leave 0 to use default (90% of balance).
- Person 2 - Additional Fields — Optional detailed financial inputs for Person 2, including contributions and pension details; shown when scenario type is 'couple'.
- Person 2 - DB Pension — Defined benefit pension details for Person 2; shown when scenario type is 'couple'.
- Person 2 - Withdrawal Weights — Withdrawal distribution percentages for Person 2's accounts; shown when scenario type is 'couple'.
- Person 2 - Fallback Order — Custom fallback order for Person 2's account withdrawals; shown when scenario type is 'couple'.
- Province (required) — Province of residence for tax and benefit considerations. Options include Ontario, BC, Alberta, Quebec.
- Additional Options — Additional model parameters such as base TFSA room, whether to calculate GIS, expected returns (%), inflation rate (%), income splitting, expense allocation, and survivor expense percentage.
Output shape
a single JSON object containing calculated maximum sustainable monthly spending and associated retirement planning details
The output JSON includes detailed results from the NowCapital retirement planning API endpoint 'calculate-max-spend', potentially including financial projections and recommended withdrawal strategies; no pagination applies.
Examples
Example 1: Calculate sustainable monthly spending for a single individual aged 55 planning to retire at 65 with specified registered and non-registered investment balances in Ontario.
Set scenario type to 'individual', provide personal financial details and ages, select province, and configure any optional additional parameters as needed before execution.