| "Illustration" for JENNIFER SMITH |
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| For demo purposes, the results shown reflect sample data. |  |
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The table provides an
overview of your 3 income payment options available so as to
help you compare and select the most suitable option for
you.
Important: Use the Recalculate
button to view the impact of any of your changes on the
opening balances and gross income amounts. Click on the
Submit button to reflect thoses changes in your
illustration. |
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Expected
Return: % |
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RRIF
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| Option 1 |
Option 2 |
Option 3 |
Minimum
income |
$ per period,
indexed
at |
Income which liquidates
assets over
year(s) |
| Year |
Owner's
age on
Jan.
1st |
Opening
balance
($) |
Gross
monthly
income
($) |
Opening
balance
($) |
Gross
monthly
income
($) |
Opening
balance
($) |
Gross
monthly
income
($) |
| 2023 |
64 |
341,421.95 |
0.00 |
341,421.95 |
0.00 |
341,421.95 |
0.00 |
| 2024+ |
65 |
346,473.40 |
1,154.91 |
346,473.40 |
1,770.00 |
346,473.40 |
2,193.12 |
| 2025 |
66 |
352,988.89 |
1,225.66 |
345,387.33 |
1,770.00 |
340,158.21 |
2,193.12 |
| 2026 |
67 |
359,020.95 |
1,300.80 |
344,236.08 |
1,770.00 |
333,464.11 |
2,193.12 |
| 2027 |
68 |
364,486.32 |
1,380.63 |
343,015.76 |
1,770.00 |
326,368.36 |
2,193.12 |
| 2028 |
69 |
369,293.03 |
1,465.45 |
341,722.23 |
1,770.00 |
318,846.86 |
2,193.12 |
| 2029 |
70 |
373,339.90 |
1,555.58 |
340,351.08 |
1,770.00 |
310,874.08 |
2,193.12 |
| 2030 |
71 |
376,515.71 |
2,315.57 |
338,897.66 |
2,084.22* |
302,422.93 |
2,193.12 |
| 2031 |
72 |
370,489.76 |
2,309.39 |
333,473.76 |
2,078.65* |
293,464.70 |
2,193.12 |
| 2032 |
73 |
364,178.63 |
2,303.43 |
327,793.26 |
2,073.29* |
283,968.99 |
2,193.12 |
| 2033 |
74 |
357,562.49 |
2,297.34 |
321,838.17 |
2,067.81* |
273,903.53 |
2,193.12 |
| 2034 |
75 |
350,624.65 |
2,293.67 |
315,593.51 |
2,064.51* |
263,234.15 |
2,193.12 |
| 2035 |
76 |
343,315.88 |
2,285.91 |
309,014.94 |
2,057.52* |
251,924.60 |
2,193.12 |
| 2036 |
77 |
335,664.50 |
2,279.72 |
302,128.05 |
2,051.95* |
239,936.48 |
2,193.12 |
| 2037 |
78 |
327,630.53 |
2,274.30 |
294,896.78 |
2,047.08* |
227,229.07 |
2,193.12 |
| 2038 |
79 |
319,181.50 |
2,268.85 |
287,291.82 |
2,042.17* |
213,759.22 |
2,193.12 |
| 2039 |
80 |
310,292.89 |
2,262.55 |
279,291.25 |
2,036.50* |
199,481.17 |
2,193.12 |
| 2040 |
81 |
300,948.82 |
2,254.61 |
270,880.71 |
2,029.35* |
184,346.45 |
2,193.12 |
| 2041 |
82 |
291,142.23 |
2,249.07 |
262,053.90 |
2,024.37* |
168,303.64 |
2,193.12 |
| 2042 |
83 |
280,815.71 |
2,241.85 |
252,759.03 |
2,017.86* |
151,298.26 |
2,193.12 |
| 2043 |
84 |
269,958.83 |
2,233.91 |
242,986.91 |
2,010.72* |
133,272.56 |
2,193.12 |
| 2044 |
85 |
258,548.66 |
2,225.67 |
232,716.72 |
2,003.30* |
114,165.32 |
2,193.12 |
| 2045 |
86 |
246,555.71 |
2,216.95 |
221,922.01 |
1,995.45* |
93,911.64 |
2,193.12 |
| 2046 |
87 |
233,950.96 |
2,208.89 |
210,576.63 |
1,988.19* |
72,442.74 |
2,193.12 |
| 2047 |
88 |
220,689.52 |
2,199.54 |
198,640.25 |
1,979.78* |
49,685.71 |
2,193.12 |
| 2048 |
89 |
206,747.96 |
2,189.81 |
186,091.62 |
1,971.02* |
25,563.25 |
2,193.12 |
| 2049 |
90 |
192,090.14 |
2,180.22 |
172,898.34 |
1,962.40* |
Final payment of $2,186.59 will be made on December
15, 2048. |
| 2050 |
91 |
176,671.38 |
2,168.64 |
159,019.99 |
1,951.97* |
| 2051 |
92 |
160,470.60 |
2,155.66 |
144,437.83 |
1,940.28* |
| 2052 |
93 |
143,458.19 |
2,142.31 |
129,125.22 |
1,928.27* |
| 2053 |
94 |
125,590.02 |
2,093.17 |
113,042.28 |
1,884.04* |
| 2054 |
95 |
107,257.05 |
1,787.62 |
96,540.97 |
1,770.00 |
| 2055 |
96 |
91,600.24 |
1,526.67 |
80,458.95 |
1,770.00 |
| 2056 |
97 |
78,228.95 |
1,303.82 |
63,412.00 |
1,770.00 |
| 2057 |
98 |
66,809.47 |
1,113.49 |
45,342.24 |
1,770.00 |
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Click on the arrow to restore the table. |
| 2058 |
99 |
57,057.02 |
950.95 |
26,188.29 |
1,770.00 |
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| The comparison grid shown above
is based on an expected rate of return of 6.000%. |
+ The first payment date is
on January 15, 2024. |
| * The income payment amount has
been adjusted to respect the government prescribed
limit(s). |
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