The purpose of these calculators is to answer the “trigger questions” clients have about the financial decisions they need to make, with tax efficiency. They are ordered to follow the four elements of Real Wealth Management™: Accumulation, Growth, Preservation, and Transition, but can be used to fill knowledge gaps on a random basis as well. Used in order, they support a consistent client interview process for firms who work with wealth advisors throughout the year to provide comprehensive tax planning services.
Our calculators are now available to you on a subscription basis starting at only $19.95 per month for a single calculator or $99.95 per month for the complete toolkit.
List of Calculators
Income Tax Estimator
This is a simple, one page calculator that helps to determine total taxes paid for individuals and/or couples based on different combinations of income sources. It is also a critical tool for every advisor who wants to show clients the benefits of an RRSP contribution, the effect of dividends on net income, how to pension income split, and how to structure income to avoid a clawback of Old Age Security or other income-tested government benefits like the Child Tax Benefits for families.
Financial Assessment Calculator
This powerful calculator links your client’s trigger questions: about life events, financial events and economic events with changes needed to get the financial results needed now and in the future. Begin by analyzing the use of money in four stages: basic spending needs for food, clothing, shelter (non-discretionary spending), “emergency savings for now and in retirement” (discretionary spending), foundational savings (capital used as a tool to build financial resources) and finally, transition of savings (building of sustainable family legacies). The process then moves from thinking in the present to a future orientation: how to use their “redundant income” as a tool to build income-producing capital (often called “don’t see it, don’t need it” money). Now you can make decisions about spending and saving to meet goals: what is personal net worth today and what can be done to increase and sustain it, after tax?
Take Home Pay Calculator
RRSP Savings Calculator
Registered vs Non-Registered Savings Calculator
Investment Income Calculator
This calculator will help you project investment income into the future, based on a four year forecast. Use this calculator to put in detailed figures of all the different types of investment income the client may have in the future, based on their current savings pattern. This planner will quickly determine the tax impact on investment income, and help you reconfigure solutions when alternative saving strategies are required. Then match new product selects to the outcomes required.
Tax Efficient Retirement Income Calculator
The average retirement is 20 years. Take a look at what that looks like, financially speaking, after tax, for both you and your spouse, retiring at different times. When will income sources start and stop for each of you? This calculator helps layer income over a period of years to determine what tax brackets you and your spouse will be in, how income sources affect net and taxable income and what is left, after tax, if anything. It also identifies return of capital required over the period to meet needs and wants, or, if there is plenty of money, the redundant amounts that can be reinvested on a safe, tax efficient basis.
Marginal Tax Rate Calculator
You will use this tool to quickly determine: i) the average tax rate, ii) the marginal tax rate and iii) the tax bracket the client is in today, based on their income levels. This will help to determine the client's current tax picture so that you can structure future income sources with tax efficiency.
Fixed vs Variable Income Calculator
Planning for a consistent, reliable income is the best way to protect capital in retirement, but this is more difficult when the retirement period coincides with a period of low or negative returns in the marketplace. Retirement income planning seeks to optimize fixed and variable income sources, but when the client relies on sources that fluctuate in value or in producing income, retirement income is unpredictable, causing the client stress. Zeroing in on the retirement "withdrawal" equation and how to supplement cash flow gaps without eroding capital away in the process, this calculator will help advisors and clients make decisions about return of capital options.
CPP Income Calculator
Debt Reduction Solutions Calculator
Cash Flow Calculator
Cash flow and income are two different things; but it may be all the same to your clients - how much do I have to spend each month. The difference is the real money they get to keep after taxes. Calculate all the income sources - taxable, non-taxable, return of capital, and windfall - to better understand where money comes from for different purposes: non-discretionary needs (food, clothing, shelter, etc.). Then you can begin to do some discretionary spending - and saving money more purposefully in the right accounts: for emergencies, and future wants like security in retirement or the best education for the kids.