RRSP Savings Strategy Calculator
RRSP�s can be a powerful way to save for retirement. Use this RRSP calculator to determine your expected future RRSP savings balance. Test the effects of contributing your tax savings into your RRSP. Test the various effects that inflation, investment return, tax rate, savings amounts, and savings frequencies will have on your final result.
- Savings payments will increase annually by the inflation rate.
- All tax effects will happen at the marginal tax rate provided by the user.
- Investment returns will be consistent, annual rate of return provided by the user is set as the effective annual rate, and will not be affected by different compounding frequencies.
- Net benefit of contributing tax savings is calculated as the difference in final balances between the two strategies, less the tax savings received as cash.
- Always consult a tax professional before making important decisions financial decisions with possible tax implications.
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