The VPW spreadsheet is very easy to use, so it would not take much to teach it to someone without a background in math, spreadsheets, or even retirement planning.
That said, another easy method is to just use the RMD formula. A Canadian RMD, known as a RRIF, calculator offers withdrawal amounts for younger ages. Just plug in your age, portfolio size and let it calculate the yearly withdrawal.
https://www.empire.ca/forms-tools/rrif-calculator
The VPW spreadsheet is still more helpful, because it adjusts for social security bridges, increasing your withdrawals temporarily until your pension claiming age.
An even easier method is to just take 5% every year, assuming you start in your 60s. I would not recommend this, but if simplicity is your goal, that is about as simple as you can get.
That said, another easy method is to just use the RMD formula. A Canadian RMD, known as a RRIF, calculator offers withdrawal amounts for younger ages. Just plug in your age, portfolio size and let it calculate the yearly withdrawal.
https://www.empire.ca/forms-tools/rrif-calculator
The VPW spreadsheet is still more helpful, because it adjusts for social security bridges, increasing your withdrawals temporarily until your pension claiming age.
An even easier method is to just take 5% every year, assuming you start in your 60s. I would not recommend this, but if simplicity is your goal, that is about as simple as you can get.
Statistics: Posted by Harmanic — Sat Jul 20, 2024 11:28 am — Replies 2 — Views 136