RRIFmetic Personal

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Also, unless your net worth is in the >$1 million range, chances are your advisor will be using an 'average tax rate' program (WealthCreator / Insynch / Infomack / Profile, or the 'average-tax' version of Naviplan ) and the resulting plan will have serious inaccuracies. If the program you are using doesn't stress 'tax accuracy' and 'goal-based', chances are it is an 'average tax rate' program.

Do-it yourself lifestyle planning.

You are 35/45/55, you have an established career; and now you are curious about the financial issues you will confront over your lifetime. Issues such as home purchase, loans/leveraging, investing for retirement and your child's education, life/disability/LTC insurance, annuities, selling your business, reverse mortgaging, CPP/OAS issues, and of course...., retirement itself.

Divorce (asset splitting/support pmts), choosing from several pension proposals from your employer, modelling the 'hubby dies early' event .... the list is endless.

Long range financial planning is a complex balancing act involving investment (and non-investment) cash flows, income tax, inflation and compound interest. The problem is, each financial 'professional' you will be bumping into over the next 40 years will have a completely different spin on your situation as they see it from their point of view.

If he is a mutual fund sales rep he will want you to invest in his favourite high growth investment fund rather than purchase a Universal Life policy. If he is a real estate agent, he will want you to borrow from your RRSP to fund your down payment. The bank's loans officer won't be happy that you are about to pay off $100K on your line of credit, and your life insurance agent will try to convince you not to lapse your term policy.

If you come into an inheritance, your investment advisor will want you to plunk it into his current favourite equity mutual fund, whereas that real estate acquaintance will want you to put it into a rental property.

Of course, none of them will show you the effect on your plan of that new car purchase every three years, whether you can afford to retire early, which of three pension payouts to choose from, how big a tax deduction a major charitable donation would earn, or how a reverse mortgage would work for you and your estate.

Each of these professionals may use (or give away) various computer programs to demonstrate their particular financial product; however, the demonstration tools they use are generally limited/biased to the product they are trying to sell, and in virtually all cases the math is badly approximated. Ditto especially, for web-based tools.

What you need is your own, integrated financial planning program which will show you how all these financial entities' cash flows interrelate with one another over time, and how (differently) they are effected by income tax, inflation and lifestyle; without favouring any specific product strategy.

Enter RRIFmetic.... Canada's only professional-quality financial planner for personal use. RRIFmetic is a do-it-yourself financial planning program which includes all aspects of retirement, tax, and estate planning. Why pay many hundreds of dollars for 1 or 2 limited sessions with a 'fee-for-service' planner when you can do your own planning, on your own time, at your own pace.

$99 buys you a 100% tax-accurate, interactive, 'goal(lifestyle)-based' financial planner which in all likelyhood will outperform anything that your financial advisor uses. (yearly tax release is only $49)

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