This startup offers technology to optimize financial planning. It likely provides tools or services to help individuals or businesses better manage their finances, potentially through automation or advanced analytics.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals face complexity and stress when planning for retirement due to the multitude of financial instruments and regulations involved (REER, CELI, RRQ, CRI, FERR, CPG, Old Age Security pensions, life insurance, inheritances). Determining the optimal strategy for disbursing assets in retirement to maximize wealth and minimize taxes can be overwhelming.
Solution
Savie provides a technology-driven retirement planning tool that analyzes millions of scenarios to identify the best asset decumulation strategy, maximizing wealth while minimizing taxes. Users complete a secure questionnaire, and Savie's algorithm generates a personalized report within 24 hours. The report considers various factors to optimize the withdrawal of assets, reduce taxes, and maximize residual value. Savie aims to democratize access to sophisticated retirement planning by offering a technology-based solution that would otherwise be inaccessible to many.
Target Audience
The primary target audience includes individuals and couples planning for retirement who seek to optimize their asset decumulation strategy and minimize taxes.
Features
- Analysis of millions of potential retirement scenarios using advanced algorithms and AI
- Personalized report generated within 24 hours of questionnaire completion
- Optimization of asset decumulation strategy to minimize taxes and maximize wealth
- Considers factors such as age, income, expenses, retirement goals, and risk tolerance
- Individual reports include: maximization of residual value, optimized spending level, impact of management fees, asset allocation over time, source of funds for expenses, RRQ and OAS recommendations, and an optimized disbursement plan.
- Couple reports include all the features of the individual report, plus optimization of income splitting and balanced withdrawals between spouses.