Utilize this easy-to-use app to save time, pay less income tax and create your own perfect retirement plan. Determine how much your money can grow and the income it provides throughout retirement. Albert Einstein once said, “Everything should be made as simple as possible, but not simpler.” In this vein, I have created apps to solve financial problems that almost every human will encounter. Your biggest enemy is high fees. By making a one-time purchase of these inexpensive apps, you’ll have the recommendations of a financial planner for the rest of your life. When you manage your investments with an online brokerage, your savings will be dramatic.
Retirement Planning Software for Canadians
Experience transparent, user-friendly, and highly flexible financial planning software designed for Canadians. RetireCAN was created to eliminate the retirement-killing fees and biased advice of traditional financial tools. Our platform uses your financial data to provide intelligent recommendations that help you achieve your goals while minimizing taxes and maximizing growth. Are you still relying on Excel or complex, outdated financial planning tools that result in reports no one reads? With our platform, you can quickly create optimized financial plans. Get instant feedback as you adjust assumptions like savings rates, investment returns, inflation, retirement dates and your life expectancy. This enables you to minimize your life’s income taxes and maximize your net worth. Turn your retirement savings into a pension based on your unique situation. Use of this app helps to answer these questions:
- How much should I withdraw from each type of investment account?
- How much should I save now for retirement?
- How much will I have when I retire?
- Am I saving enough for retirement?
- How much can I spend in retirement?
One-Page Summary
Easily generate a personalized, one-page summary. Use interactive charts to illustrate exactly how their financial plan will help achieve your retirement goals with a withdrawal strategy. Make real-time updates to projections without flipping through endless tabs or extra pages, saving time and delivering superior financial advice. Retirement income in Canada often comes from multiple sources that start at different times and fluctuate over the years, potentially eroding due to inflation. Take control with planning tools that build client confidence.
How Much Do I Need to Retire?
How much you need in retirement will depend on how your income and expenses change when you retire. As a general rule, you’ll want to aim for at least 70-80% of your pre-retirement income for each year of your retirement. In retirement you may spend less money on savings, housing, tax, and transportation to work, but more on hobbies, utilities, and healthcare.
Why is the Default Life Expectancy of the Calculator 95?
For starters, people are living longer. Even though the average life expectancy in Canada is 82 years, many people live past this. It’s better to have more money tucked away for retirement than to run out of savings. Extra savings can always be passed down to your beneficiaries. You can change the default life expectancy if you think you’ll live a longer or shorter life.
Is this a Retirement Withdrawal Calculator?
Yes, you can use the calculator to help determine how much to withdraw each year of your retirement.
Can I Use the Calculator if I plan to Retire Early?
Yes, we’ve designed the calculator so it can be used if you want to retire early or late. Just input the retirement age you plan to trade in the work grind for a life of leisure.
How Do We Keep Personal Information Safe?
Our apps will never ask you for financial account numbers, social security numbers, or other highly sensitive information. Information provided by you is located on your device. W do not have the ability to disclose, trade, rent, sell or otherwise transfer your personal information.
Conclusion
The calculator may be a useful tool in helping you estimate how much you need for retirement, but you should understand that it has limitations. It does not anticipate or take into account future changes to government retirement programs or tax rates. Also, rates of return on investments may vary. RetireCAN is an advanced financial planning platform, combining innovative technology, insights and education.
