This is not an official website or publication of iA Private Wealth and the information and opinions contained herein do not necessarily reflect the opinion of iA Private Wealth. iA Private Wealth is a trademark and a business name under which iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. Both the nature and size of your expenses will probably be hugely different during each retirement decade, but most calculators assume a steady cost of living adjusted by inflation.IA Private Wealth Inc. (By March I will be back around December levels).Ĥ. What it does not tell me in the same calculator (or even mention on the same page) is that if I apply in January or February 2014 I will get a smaller pension from them thanks to the way the new CPP formula is being phased in for early applicants. Service Canada tells me what to expect if I apply in December 2014. For example, I am 60 and retired but have not drawn CPP yet. Calculators do not show this interplay.ģ. If your retirement savings consist of personal company assets and an RRSP there are few things more critical during retirement than deciding how much to draw down from each and when over time. People often have to trim back on mortgage payments to contribute to savings plans, or one type of plan to enhance another, but the handy calculators for these things are frequently presented in isolation.Ģ. There is nothing that ties together everything on the list, even though it is clear that many items being calculated have reciprocal effects on other items being calculated.Ī few examples but there is no end to such examples:ġ. More than likely is that the calculators increase and decrease gradually in importance for you over timeī. To make this worse, there is no clear line between what is helpful and what is not. There is nothing that helps everyone equally (hence this blog’s title). I would add two notes of caution of these items, and they pertain to the inherent weakness they have of being both isolated from each other on the list and from you as an individual.Ī. I have used some of these and similar in the past and it is a helpful list for certain questions. This is not a definitive list by any means, so feel free to add to it by listing your favourite online financial resources in the comments section below. I hope you find some of these calculators and tools to be useful for your own finances. Related: How to make a better personal budget Final thoughts This site is where I found the budget spreadsheet that I’ve used the past five years. has many free financial spreadsheets and calculators available for download, which you can then customize to your own unique situation.
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