Wow, I never thought this sort of thing exists! I'm used to doing my calculations manually (or with the help of a scientific calculator).
Thanks for sharing!
I like this one, tells me am worth very little!!
Originally Posted by The_Number
One puzzle that should be mentioned is why, given that the basic rules of math are fixed... namely the rules of compound interest, inflation, and taxation... that there are as many answers to a simple financial planning scenario as there are online calculators and spread sheets available out there.
After all, a simple mortgage or annuity will be the same when run on several different financial calculators or a tax return crunched on a Quicktax or a Taxwiz will deliver the same T1. Why then shouldn't a simple question such as "I am X years old, earn $Y, plan to retire at age 60, have $Z saved in my RRSP. What should I be saving pre retirement, and drawing down post retirement in order to deliver me a constant aftertax lifestyle with my capital just running out on my 100th birthday?, deliver the same consistent answer?
Seven simple parameters (age now, at retirement and at death, salary and current savings. (coupled with inflation and investment rate)
Pop those 7 parameters into any spreadsheet or online calculator and be prepared to shake your head over the disparity in the answers.
mutual fund fee calculator
Anyone know if there is a "correlation calculator" for ETF's?
Fixed Broken Link
Get Smart About Money
Lots of other handy calculators.
http://firecalc.com/ is American and uses Monte Carlo simulation of historical market returns. Canadians will have to make a few adjustments in data input.
http://www.retirementoptimizer.com/ is Canadian, by Jim Otar, an engineer who has used math to throw cold water on simplistic assumptions about the distribution phase. You can use the calculator for free without bells and whistles, or order the customizable version for $100.
I'm a long time admirer/user of FireCalc...
I got one here:
Originally Posted by rinoscar
where ya gotta change the symbols to what Yahoo recognizes (such as CBQ.TO).
Thank you for the link, much appreciated