Financial Calculators

The Life Insurance Needs Calculator lets you estimate the amount of life insurance coverage you and your spouse / partner require.

The Income Tax Calculator estimates the amount of tax you will be required to pay on the various sources of income earned. If you are an employee, use the calculator to estimate the potential tax savings from RRSP contributions. If you are self-employed, use the calculator to estimate changes to income tax based on how you draw your income.

The Investment Leverage Calculator lets you compare an interest-only investment loan to making regular monthly savings. The strategy that produces a larger investment balance at retirement may warrant further consideration in your planning.

The RRIF Calculator estimates the future withdrawals you will need to make from your RRIF based upon the prescribed minimums. You can also use the RRIF calculator to estimate how long you can withdraw a set amount from your RRIF before running out of money.

The RRSP vs. Mortgage Calculator lets you compare investing a lump-sum in your RRSP today vs. paying down your mortgage and investing future mortgage savings in your RRSP. The strategy that produces the larger RRSP balance at retirement may warrant further consideration in your planning.

The TFSA vs. RRSP Calculator lets you compare investing in the 2 most popular tax-assisted investments available to Canadians. The strategy that produces the larger “After-Tax Retirement Income” may warrant further consideration in your planning.