The Canadian Retirement Planner's Software™
for Personal Use
by David Gobeil, MSc, CPA, CA, CFP®, CEA
You can prepare a sophisticated retirement plan and sort through the complexities of the Canadian Retirement System with employer pensions, government pensions, Tax-Free Savings Accounts, Registered Retirement Savings Plans, Registered Retirement Income Funds, Locked-in Retirement accounts, minimum withdrawals, age tax credits, pension income splitting, etc.
Saving for Retirement
You can develop a savings plan allocating your savings between your pensions, CPP/QPP, RRSPs, TFSAs, and tax-paid capital. You can test different retirement dates and examine the impact on your savings.
"I have relied on Gobeil’s Canadian Retirement Planner's Software since 1996. It is easy to understand and use. The Gobeil team is quick on the updates and responsive to any queries. Highly recommend." Rose Lalonde, CFP®. Forward Vision Financial Planning Group
Approaching or Enjoying Retirement
Approaching retirement, you can test different retirement dates and examine the impact on your finances. You can assess pension benefit alternatives. If retired, you can determine the lifestyle expenditures that you can afford, plan RRSP and RRIF withdrawals, and project the assets that will be remaining for your estate plan.
“We have been using The Software since 1990 and whole heartedly endorse this software. It is easy to use but sophisticated enough to cover all situations no matter how complex. Gobeil updates it the moment any tax changes take place.” Harry Trihey, BBA, CLU®, ChFC® and Kelly Trihey, BCom, CFA®.
Hire a Certified Financial Planner® (CFP®)
As a fee-only financial planner, I will prepare a retirement plan for you, allowing you to manage your own investments. Your plan will show you how to use your savings to meet your needs during retirement. If still working, it will show you how much you will need to save and where to put your savings.
Certified Financial Planner® is the most widely recognized financial planning designation in Canada. David Gobeil is a CPA, CA, CFP® and the developer of the Canadian Retirement Planner's Software™.
Evaluation of The Canadian Retirement Planner's Software™ for Personal Use
We have two sample retirement plans:
- for a couple who want to know how much to save and where to put their savings and
- for a retired couple who want to know how best to use their savings.
We will send you an email with links to download the sample plan that suits your situation. You can then decide whether to:
- purchase a License and prepare your own retirement plan or
- hire a fee-only Certified Financial Planner to prepare one for you.
Personal Use of The Canadian Retirement Planner's Software™
With an Annual License for Personal Use, you can prepare your retirement savings plan, or plan how to use your savings and best enjoy retirement. It runs on a Windows Personal Computer and includes updates to the Software.
Professional Assistance Preparing Your Plan
Engage a Certified Financial Planner® to assist you in gathering your information and developing your assumptions. Your Planner will use the Software to prepare your draft plan, review the plan with you, and complete the final plan to meet your needs. $495 with a deposit of $95 and final billing upon completion
RETIREMENT MODEL
- Spouse/Partner - Allocate assets and pension incomes between spouses, prepare separate income projections, and income tax calculations, and use an integrated strategy for investment assets.
- Income Taxes - With progressive tax rates in Canada and taxation of all proceeds from an RRSP, the tax burden is a critical consideration in retirement planning.
- Pension Income Splitting - Calculate the amount of pension income to split between spouses/partners to minimize their income taxes and preserve Old Age Security.
- Inflation and Indexing - Enables you to specify inflation and indexation rates and calculates their impact. The impact of inflation on retirement planning is frightening.
- Income Projections - Prepare projections of retirement income based upon current savings or additional savings required in an RRSP, TFSA, or as tax-paid capital.
- Sustainable Income Levels - Determine the maximum sustainable income level. “How much can I afford to spend?”
- Tax-Free Savings Accounts - Determine contribution room, carry-forwards, and appropriate drawdowns of funds.
- RRSP Savings Plan - Determine earned income, pension adjustments, maximum RRSP contributions, RRSP carry-forwards, and appropriate use of Spousal RRSPs.
- Locked-in Funds - Calculate minimum and maximum withdrawals from Life Income Funds and specify age at which to start drawing maximum from funds.
- Fully Supported - Updated at least twice yearly to incorporate changes in the Income Tax Act and to add features requested by users. Ongoing technical support is just an email away!
- Audit Trails – Audit report show you the year-by-year accumulations and use of savings to provide retirement funds.
“We have used Gobeil’s Canadian Retirement Planner’s Software since 1991. It is an easy-to-use program to help our clients understand where they stand with regards to achieving economic independence and peace of mind. By entering in some basic variables, we can quickly generate reports to show our clients different planning scenarios. The software is updated regularly to reflect changes to both federal and provincial tax rules. If you are looking for a program to quickly generate planning scenarios for your clients, this is the one for you.” Matthew D. Humes, B.Comm., F.Pl. Quebec. DD Humes Financial Services – Investia Financial Services Inc.
The Canadian Retirement Planner's Software™ is a trademark of D. R. Gobeil & Associates Ltd.