post https://api-lib.bambu.life/api/graph/v2/retirementDecumulator/calcRetirementDecumulation
The following table describes the parameters for Decumulator (Retirement):
| Name | DataType | Description | Mandatory | Sample Value | List of possible values | No. of decimals | Notes |
|---|---|---|---|---|---|---|---|
| targetGoalAmount | Number | Goal Amount | Y | 1000000 | >0 | 2 | User's targetted goal amount |
| annualRetirementIncome | Number | Annual Retirement Income | Y | 2000 | 2 | This is the Annual Retirement Income the users needs, this value comes from the Retirement Expense calculator.endpoint - retirementGoalCalculatorV2sfields - totalExpendituretotalExpenditure*12 , to convert the monthly value to yearly value | |
| retirementAge | Number | Retirement Age of user | Y | 65 | >0 | 0 | This comes from Country Service. If client wants their own value, then hardcode it in the Front End.Endpoint - /v1/rate/:countryCodefield - retirement_age_male |
| gender | String | Gender of user male or female | Y | Male | Gender is either "Male" or "Female". if we are not asking for the user's gender, we assume he is a guy. Male | ||
| lifeExpectancyMen | Number | Male Life Expectancy | Y | 75 | >retirementAge | 2 | This value should be retrieved from the Country ServiceEndpoint - /v1/rate/:countryCodeField: life_expectancy_male |
| lifeExpectancyFemale | Number | Female Life Expectancy | Y | 86 | >retirementAge | 2 | This value should be retrieved from the Country ServiceEndpoint - /v1/rate/:countryCodeFields: life_expectancy_female |
| annualisedSavingsAcctIntR | Number | Annualised Saving Account Interest Rate | N | 0.005 | 6 | "savings_account_interest_rate" of a specific country can be used from the Country Rates APIs to populate this field"Country rates APIs by the country code"field to use - savings_account_interest_rateDefault: 0.005 | |
| annualisedInflationRate | Number | Annualized Inflation Rate | N | 0.03 | 6 | "inflation_rate_long_term" of a specific country can be used from the Country Rates APIs to populate this field"Country rates APIs by the country code"field to use - inflation_rate_long_termDefault : 0.03 | |
| compoundsPerYear | Number | Numbers of Compounds Per Year | N | 1 | >0 | 0 | The number of compounds per year by default to be hardcoded to 1 in the FE.The reason for the CompoundsPeryear field is to convert the interest rate value (Annual Percentage Rate) to the Effective Annual Rate.For more information - https://www\.fool\.com/knowledge\-center/what\-are\-the\-differences\-between\-apr\-ear\.aspxDefault: 1 |
| period | String | PMT Start period | N | end | 'end', 'beg' | Values are eitherbeg - for beginning of the yearend - for end of the year Default: beg | |
| currentYear | Number | Current Year | Y | 2019 | 0 | System generated Year to date |
The following table describes the output for Decumulator (Retirement):
| Name | DataType | Description | Sample Value | No. of decimals |
|---|---|---|---|---|
| YearstoDecumulate | Number | Number of years to start decumulation | 10 | 0 |
| interestRate | Number | Interest Rate | 0.005 | 6 |
| inflationRate | Number | Inflation Rate | 0.03 | 6 |
| actualYear | Number | Projection year | 2020 | 0 |
| Years | Number | nth year of goal | 2 | 0 |
| ProjectedValue | Number | Projected amount | 30000 | 2 |
| futureAnnuity | Number | Future Value of annualRetirementIncome that has been paid out at a given year | 20709 | 2 |
| futurePV | Number | Future Value of targetGoalAmount at a given year assumming no cash outflows | 105114 | 2 |
| graphArray | Decimal | Values on the graph for each year of decumulation | "graphArray": [100000,...81691.91] | 2 |