How to add retirement expenses in the planning tool

Navigate to the "Retirement Expenses" tab to add your projected monthly retirement spending. This includes costs like housing, food, transportation, healthcare, and leisure activities. Providing this information allows the tool to estimate how much you’ll need to save and helps tailor your retirement strategy to your goals.

The "Preferences" section is designed to personalize your financial plan based on your willingness to take specific actions towards your goals. Indicate your preferences by adjusting the slider for each question. The preferences you set impact the suggested strategies that are recommended to you. You’ll be asked to consider:

• Your willingness to experience short-term discomfort (for example, reduced spending) for long-term financial gain.
• Whether you’re willing to save your tax return, delay retirement, or reduce retirement savings.
• How much additional monthly savings you can realistically afford to contribute.

These preferences help the tool suggest strategies that fit your lifestyle, priorities, and comfort level.

The "Risk Tolerance" section allows you to select your investment profile to help tailor your investment strategy. Choose the option that reflects how comfortable you are with market fluctuations and potential returns.

You can choose from three options:

• Income: Focused on stability and lower risk, ideal for preserving capital and generating steady income.
• Balanced: A mix of growth and stability, suitable for moderate risk tolerance.
• Equity: Geared toward long-term growth with higher risk and potential for greater returns.