The goal of retirement planning is to achieve financial independence, so that the need to be gainfully employed is optional rather than a necessity.
For many of us the simple definition of retirement planning equates to accumulating sufficient financial resources to support a desired lifestyle. Fortunately technology provides us with the tools to make basic calculations to determine our individual objectives. To address this subject we have provided links to many of the Major Canadian Banks as well as other sites that provide free access to these “Retirement Calculators”. Keep in mind, these are generic formulas. These calculators are simply a starting point for you to gain a rudimentary understanding of your retirement needs. You may use these templates by inserting appropriate information that will project your financial plan. To ensure you have an accurate plan that is tailored to your specific goals it is always recommended to seek professional advice. As stated previously the Retirement Services Committee does not endorse any firm or individual to assist in this process.
Retirement calculators are featured on the following websites:
To access information on how much money you may require to retire, please click here.
To access information about the dangers of dipping into your RRSP, please click here.
Third Party Information. Links to other web sites operated by other entities are included as a convenience to you. CSCM makes no representation regarding the content or accuracy of any other web site, which you may access through this one. CSCM is not responsible for the content found on other web sites, which is linked from this page. The existence of these links on CSCM's website does not imply endorsement, recommendation or sponsorship for any linked web site or the services, products or advice described on the site. The views, opinions, statements, offers or other information or content expressed therein are those of the respective author(s) or distributor(s) and not CSCM.