FAQ: How to fill in Income Section in Discovery if I have no Employment Income

If you no longer have Employment Income then you can simply enter $0 in all income sections. It’s made available in case there is part-time income in retirement or are already receiving CPP/OAS (more information on this below).

This is how retirement income sources are entered on the platform:

• CPP & OAS: If you have not started to receive them yet, retirement income from CPP or OAS will be calculated automatically based on the information you provide in the Tax & Benefits section. If you have started to receive payments from CPP or OAS make sure that you have indicated that in the Profile section by checking CPP/OAS started. When this is checked off, you will see an option to enter Gross CPP/OAS in the Income Section of Discovery.

  

• Pension: This will also be added automatically based on the information you share in the Tax & Benefits section. Whether you are receiving your pension or not, enter the information in the Tax & Benefits section.
• I nvestment Withdrawals: This will automatically be calculated in the Projections Section. You do no have to enter RRIF minimums or dividend income in this section.

When you add Expenses in Discovery > Expenses, the platform will make the necessary withdrawals from investment accounts to meet that after tax spending goal. This will vary each year depending on the type of income/withdrawals. These calculations happen automatically in Planning > Projections but you can always override withdrawals to specific values or use the AI Strategies to test various withdrawals options.