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Retirement Planning Tools

FreshPlan Retirement Planning Tools Summary

FreshPlan offers several options to help with your retirement planning.
We’ve summarized several of the retirement planning calculators and planners to help you choose which tool may help best depending on the client situation.

Retirement Planner

FreshPlan’s most robust retirement planning tool.

Works well for a client and partner.
Investment can be divided into non-registered and various registered vehicles (RRSP, TFSA, RRIF, MPP, LIF) and features up to 16 rates of return (8 before retirement and 8 after retirement). The calculator considers up to five CPP, OAS pension income and other income. Additional retirement cash flow and income flexibility in cases where client may be downsizing or may need additional cash flow for an upcoming purchase (wedding, additional property, etc.)

Results are summarized clearly in a Summary Chart, and Investment Chart. Significant details are shown through Accumulation Table, Distribution table and the Income summary.

To drill down further, the supporting tables include:

• Calculation of Income Shortage
• Income need
• CPP & OAS (plus any clawbacks)
• Pension Income
• Other income
• Non-registered investments and contributions
• TFSA investments and contributions
• RRSP/RRIF investments and contributions
• LIF investments and contributions
• Money Purchase Plan contributions

Will the Money Last Calculator

Calculate you when the money will run out, not how much more you will need.

Enter a starting investment balance, grow it at your rate of return and withdraw an annual income, indexed for inflation. This tool will calculate how long the money will last and when it will run out. Show two scenarios side by side. Results are illustrated with a table.

NOTE: For a reverse approach, try the Capital Required calculator.

Capital Required Calculator

Calculate the lump sum amount needed now to provide for that income.

After determining what after-tax income you require to live on, indexed for inflation, calculate the lump sum amount needed now to provide for that income. This calculator considers the rate of return and tax treatment of different types of investments. Results are illustrated with a Graph (indexed and non-indexed)

NOTE: For a reverse approach, try the Will the Money Last calculator.

Investment Withdrawal Calculator

Calculate how much more capital you need now for the money to last.

Opt to calculate growing your investment before starting withdrawals, adding a lump sum withdrawal or addition. Results indicate how much more capital you will need to achieve your goal. Calculate additional scenarios.

Results are illustrated with a chart with the ability to drill down into a table.

NOTE: Similar to the Will the Money Last calculator with additional options.

Retirement Projection Calculator

Quick and effective retirement planning tool.

A more robust planning tool than a single needs calculators which works well for a single client (single, widow, widower) with an uncomplicated investment portfolio.

Investments are pooled with a single rate of return and indexing. The calculator considers CPP, OAS and pension income. Include additional retirement cash flow and income flexibility in cases where client may be downsizing or may need additional cash flow for an upcoming purchase.

Results are summarized clearly in a Summary Chart, and Investment Chart. The Table shows the income needs, pension and investment output, the investment balance and any income shortage.

Retirement Calculator

A more detailed retirement planning tool.

A more detailed Retirement tool, this calculators works well for a single client a couple. The income need and investments are pooled, but the tools allows for separate retirement incomes when planning for a couple.

Investments are grouped into RRSP, TFSA and non-registered investments and featured up to four rates of return (three before retirement and one after retirement). This tool considers CPP, OAS and pension income. It includes additional retirement cash flow and income flexibility in cases where client may have additional cash flow events (incoming or outgoing).

Results are summarized clearly in a Summary Chart and Investment Chart. The accumulation and distribution tables allow you to drill down into the data for each year calculated