Frequently Asked Questions

A retirement plan helps you decide what type of lifestyle you’d like to have, how much you need to save and how to manage your money after you stop working.
We believe that everyone deserves to know where they sit when it comes to their retirement. Currently only 38% of Canadian population has an existing retirement plan, and we hope to bring that number up by offering a free plan which can be used as a basis for a more comprehensive and holistic approach to planning for a comfortable retirement.
No, we do not offer specific investment or retirement advice in the plan, since every situation is different with many different variables. Once you have completed the plan available here, it is best to speak to a licensed financial advisor to fine tune and further customize it for your specific situation and needs.
Our Free Retirement Plan offers a comprehensive outlook on your current savings situation and how it compares to what you will require in retirement based on the information you provide us. The plan includes an overview and provides a general step by step guidance on how to achieve your ideal retirement.
You do not need to get the plan to speak to an advisor, you can use our Find an Advisor service link at the top of this page to connect with a financial advisor.
Using the postal code that you provide, we can provide you with a recommendation within your geographical area so you are able to meet your advisor face to face if need be.
You are still welcome to get a free plan for comparison sake. It never hurts to get a second opinion or an updated financial health check report.
No, our service is completely free and there are no charges, nor will there ever be.
The Tax-Free Savings Account (TFSA) is an account that provides tax benefits for saving in Canada. Investment income, including capital gains and dividends, earned in a TFSA is not taxed, even when withdrawn.
The annual TFSA dollar limit for the years 2009, 2010, 2011 and 2012 was $5,000. The annual TFSA dollar limit for the years 2013, 2014 and 2015 is $5,500. Investment income earned by, and changes in the value of TFSA investments will not affect your TFSA contribution room for the current or future years.
A Registered Retirement Savings Plan is a personal savings plan registered with the Canadian federal government allowing you to save for the future on a tax-sheltered basis. An RRSP portfolio can contain a variety of investments, including: RRSP savings deposits, treasury bills, GICs, mutual funds, bonds and even equities.
Your allowable RRSP contribution for the current year is the lower of 18% of your earned income from the previous year or the maximum contribution limit for the taxation year (maximum 2015 RRSP deduction limit: $25,370).
Rate of return is a profit on an investment over a period of time