Billy's Maximum Retirement Spending Strategy
How a single retiree maximized his retirement spending while ensuring lifetime financial security through tax-efficient withdrawals.
Overview
Billy approached retirement with a clear objective: maximize his retirement spending while ensuring he wouldn't outlive his savings. With no desire to leave an inheritance, his focus was entirely on optimizing his retirement lifestyle. However, he faced a common dilemma—uncertainty about safe withdrawal rates and concerns about depleting his savings too quickly. His primary challenge was finding the right balance between enjoying retirement to the fullest and maintaining financial security throughout his lifetime. Traditional retirement calculators and fixed withdrawal rates didn't account for his specific goal of maximizing spending with no legacy requirements. Every plan he ran with his advisor told him he couldn't spend more than $75,000 annually, yet he always ended with a large estate (running to age 90).
Financial Profile
Billy
Current Age: 65
•
Retiring at 65
Annual Income
$0
TFSA
$150,000
RRSP
$850,000
Non-Registered
$400,000
Total Assets
$1,400,000
The Challenge
Billy needed a strategy that would allow him to spend more in retirement while ensuring lifetime financial security.
Determining the maximum sustainable spending level throughout retirement
Optimizing withdrawals across different account types to minimize taxes
Ensuring financial security without the constraint of leaving an inheritance
Gaining confidence in spending decisions without fear of running out of money
The Solution: Maximum Spending Strategy
Using Optiml's Max Spend Strategy, Billy was able to:
Spending Optimization
Calculate his maximum sustainable spending level while maintaining lifetime security
Tax-Efficient Withdrawals
Implement a tax-optimized withdrawal strategy across his RRSP, TFSA, and Non-Registered accounts
Dynamic Adjustments
Adapt his spending and withdrawal strategy based on market performance and changing needs
The Results
Additional After-Tax Income
$339,782
Increased 14%
Estate Fully Drained by 90
$0 Estate
Met
Annual After-Tax Income
~$100K
+14%
Between the ages of 65-80 he was able to spend 14% more than originally planned
Successfully found a plan to fully drain his estate by age 90
Optimized withdrawal strategy across all account types
Increased confidence in retirement spending decisions
Key Takeaways
Maximize Without Risk
It's possible to significantly increase retirement spending while maintaining financial security through strategic planning.
Tax-Efficient Withdrawals Matter
Proper withdrawal sequencing across account types can substantially reduce lifetime tax burden and increase spendable income.
Personalized Strategy
Retirement strategies should align with personal goals—whether that's maximizing spending or leaving a legacy.
Billy's story demonstrates how retirees can optimize their retirement income for maximum enjoyment while ensuring lifetime financial security. Through Optiml's Max Spend Strategy, he gained the confidence to spend more in retirement without the fear of running out of money.
Learn More About
Max Spend Strategy
See how Optiml helps you maximize your retirement spending while maintaining lifetime security
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