financial-plan

name	financial-plan
description	Build or update a comprehensive financial plan covering retirement projections, education funding, estate planning, and cash flow analysis. Use for new client onboarding, annual plan reviews, or scenario modeling. Triggers on "financial plan", "retirement plan", "can I retire", "education funding", "estate plan", "cash flow analysis", or "plan update".
triggers	["financial plan","retirement plan","can I retire","education funding","estate plan","cash flow analysis","plan update"]
tier	core
dependencies	["tax-optimization"]
origin	anthropics/financial-services

Financial Plan

Canadian context override (added during Atlas import). This skill was imported from anthropics/financial-services with US assumptions baked in (401k, Roth IRA, Social Security, federal estate tax, 529 plans, RMDs). Atlas operates in Canadian tax jurisdiction with CC's specific accounts. The translation table below applies to every reference in the workflow. When advising CC, use the Canadian equivalents; the US originals are kept for clarity and so this skill is still useful if Atlas is ever pointed at a US client.

Canadian translation table

US (original)	Canadian (use for CC + Canadian clients)
401(k)	RRSP (Registered Retirement Savings Plan)
Roth IRA	TFSA (Tax-Free Savings Account)
Roth conversions	RRSP → TFSA strategy after retirement / low-income years
Traditional IRA	RRSP
Social Security	CPP + OAS (Old Age Security), incl. GIS for low-income
Required Minimum Distributions (RMDs)	RRIF mandatory withdrawals starting age 72
529 plan	RESP (Registered Education Savings Plan, with CESG grant 20% match)
Federal estate tax	No estate tax in Canada — instead, deemed disposition at death triggers capital gains; departure tax if exiting Canada
Lifetime gift exemption	No equivalent — gifts are tax-free in Canada (no gift tax). Watch attribution rules for spouse/minor transfers.
Trust structures (US flavor)	Family trust, alter-ego trust (65+), joint partner trust — different mechanics; use Canadian trust counsel
State income tax	Provincial tax — Ontario for CC until Montreal move (then Québec)
HSA	No direct equivalent. Health Spending Account (HSA in CA) = employer-administered, different mechanics.
Long-term care insurance (US)	LTC riders limited in CA; provincial OHIP/RAMQ + private

Atlas-specific accounts to map

When applying this skill to CC, the actual account inventory is:

• TFSA — Wealthsimple, growth assets (tax-free compound)
• FHSA — Wealthsimple, opened 2026-03-27, first-home-allocated equities ($8K/yr × 5yr cap)
• RRSP — when CC opens one (currently $0). US dividend stocks belong here under Canada-US treaty (no withholding).
• Non-registered (personal) — short-term speculative, losses offset gains
• CCPC — incorporation trigger at $80K+ MRR (per brain/TAX_PLAYBOOK_INDEX.md)
• Crypto — Kraken, weighted-average ACB (see cfo/crypto_acb.py)
• Forex/Gold — OANDA, non-registered
• Departure-tax horizon — exit ages 25-28 via UK FIG → Isle of Man (per memory/project_exit_plan.md)

For CC specifically, "retirement projections" usually means runway to financial independence, not age-65 retirement. Calibrate Monte Carlo to that target.

Workflow

Step 1: Client Profile

Gather or confirm:

• Demographics: Age, spouse age, dependents, life expectancy assumptions
• Employment: Current income, expected raises, retirement age target
• Accounts: All investment accounts with balances and asset allocation
• Income sources: Salary, bonuses, rental income, Social Security estimates, pensions
• Expenses: Current annual spending, expected changes (mortgage payoff, kids' independence)
• Liabilities: Mortgage, student loans, other debt
• Insurance: Life, disability, LTC, health
• Estate: Wills, trusts, beneficiary designations, gifting strategy

Step 2: Cash Flow Analysis

Build annual cash flow projections:

Year	Age	Gross Income	Taxes	Living Expenses	Savings	Net Cash Flow

Key inputs:

• Inflation rate assumption (typically 2.5-3%)
• Tax rate (marginal and effective)
• Savings rate and where savings are directed (pre-tax, Roth, taxable)

Step 3: Retirement Projections

Accumulation Phase:

• Current portfolio value
• Annual contributions (401k, IRA, taxable)
• Expected return by asset class
• Monte Carlo simulation: probability of success at various spending levels

Distribution Phase:

• Required annual spending in retirement (today's dollars → inflation-adjusted)
• Social Security start age and benefit
• Pension income (if any)
• Portfolio withdrawal rate and sequence
• Required Minimum Distributions (RMDs)

Key Output:

• Projected portfolio value at retirement
• Sustainable withdrawal rate
• Probability of not running out of money (target >85%)
• "What if" scenarios: retire early, market downturn, higher spending

Step 4: Goal-Specific Analysis

Education Funding

• Children's ages and target college start
• Current 529 balances
• Target funding level (public vs. private, 4-year vs. graduate)
• Required monthly savings to reach goal
• Financial aid considerations

Estate Planning

• Current estate value and projected growth
• Estate tax exposure (federal and state)
• Trust structures in place
• Gifting strategy (annual exclusion, lifetime exemption usage)
• Charitable giving plans
• Beneficiary review

Risk Management

• Life insurance needs analysis (income replacement, debt payoff, education funding)
• Disability insurance adequacy
• Long-term care planning
• Umbrella liability coverage

Step 5: Scenario Modeling

Run key scenarios:

Scenario	Probability of Success	Portfolio at 90	Notes
Base case
Retire 2 years early
20% market drop in Year 1
Higher spending (+20%)
One spouse lives to 95
Long-term care event

Step 6: Recommendations

Prioritized action items:

1. Savings rate changes
2. Asset allocation adjustments
3. Tax optimization (Roth conversions, tax-loss harvesting, asset location)
4. Insurance gaps to fill
5. Estate document updates
6. Beneficiary designation review

Step 7: Output

• Financial plan document (Word/PDF, 15-25 pages)
• Cash flow projection spreadsheet (Excel)
• Retirement projection charts
• Goal funding analysis
• Scenario comparison table
• Action item checklist

Important Notes

• Financial plans are living documents — review and update annually or after major life events
• Be conservative with return assumptions — overestimating returns gives false confidence
• Tax planning is as important as investment returns — model tax implications of every recommendation
• Social Security timing is a major lever — model start ages of 62, 67, and 70
• Always stress-test the plan — a plan that only works in the base case isn't a good plan
• Compliance: ensure recommendations align with suitability/fiduciary standards