Financial Calculators
I’ve provided links to helpful financial calculators from industry leading sources. They are designed to help you better understand some basic concepts and is NOT a substitute for professional advice from a Certified Financial Planner.
Should you have questions regarding these tools and how they apply to your personal financial situation please contact me to setup an appointment?
Select one of the six headings for a list of related calculators. A brief description is provided to explain the purpose of each calculator.
Retirement Planning (RRSP, RIF, LIF)
- RSP Accumulation Calculator - Calculate how much you will need to save for retirement.
- RIF / LIF Illustrator - Find out how much income your retirement savings will generate in retirement.
Education Planning (RESP)
- RESP - Determine how much you will need to save for a child's education
Deposit and Withdrawal Scenarios
- Advantage of Early Investing - Learn how starting your investments early will result in more money
- Deposits (accumulation) - See how much your money will grow under various deposit scenarios
- Withdrawals (depletion) - See how long your money will last under various withdrawal scenarios
Borrowing Money (Mortgage and Loan)
- How much can I borrow to buy a home? - This calculator will give you an idea of how much the lenders will give you to buy a home based upon your income level.
- Mortgage Amortization Schedule - How long will it take to pay off my mortgage and what will it cost?
- Debt Consolidator - Determine how much you will save by consolidating your higher interest debts like credit cards into a single loan like a mortgage or line of credit.
Personal Finance (Budget)
- Household Cash Flow Statement (Budget) - Calculate how much money comes in and where it goes
- Net Worth Statement - How much are you worth? This calculator adds up all the items you have (assets) and subtracts all the money you owe (liabilities) to determine your net worth.
Taxation
- 2009 Personal Tax Calulator - See the approximate tax rates and amounts at various income levels for the 2009 taxation year.
- Registered Retirement Savings Plan (RRSP) Tax Savings - Determine the approximate tax savings by contributing to your RRSP.
- Tax Free Savings Account (TFSA) Tax Savings - Determine the approximate tax savings by contributing to your TFSA versus a taxable account.
Currency Conversion
- Currency Conversion - Quickly calculate the approximate amount you will receive when converting from one currency to another using current exchange rates which are provided.